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Stock Market & Financial Investment News

News Breaks
April 1, 2013
11:03 EDTWRLD, DLLR, FCFS, CSH, EZPWPayday lenders slump after DFC Global lowers forecast
Shares of DFC Global (DLLR) and those of some of its peers in the alternative financial services industry declined after DFC issued worse than expected earnings per share guidance for its third quarter and lowered its view of profit for the full year. WHAT'S NEW: DFC Global announced this morning that it expects earnings per share for the three months ended March 31 to be 20c-24c, compared to the consensus forecast of 63c. The company also lowered its fiscal 2013 earnings per share guidance to $1.70-$1.80 from its prior estimate of $2.35-$2.45. The company cited issues caused by new regulations in the United Kingdom. In early March, a British regulator, the Office of Fair Trading, or OFT, said it would give "payday lenders" 12 weeks to change their business practices. One of the OFT's complaints about the lenders was that they were granting consumers loans that they could not afford to repay, and then profiting from multiple rollovers of those loans. DFC Global said that it has responded to these developments by implementing higher lending standards. The lender obtained 48% of its revenue from the United Kingdom in fiscal 2012, according to the company's annual report. OTHERS TO WATCH: Other publicly traded payday lending companies include First Cash Financial (FCFS), Cash America (CSH), EZCORP (EZPW) and World Acceptance (WRLD). TODAY'S PRICE ACTION: In mid-morning trading, DFC Global plunged over 18% to $13.59, while First Cash and World Acceptance slid about 2%, Cash America declined 2.7%, and EZCORP fell 3%.
News For DLLR;FCFS;CSH;EZPW;WRLD From The Last 14 Days
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August 27, 2014
07:08 EDTCSHCash America announces exit of Mexico, Colorado markets
Cash America International announced that it has exited two non-strategic markets through the sale of its 47 pawn lending locations in Mexico and its 5 pawn lending locations in Colorado. The 47 locations in Mexico and the 5 locations in Colorado represent all of the company's stores in each of those markets. After the completion of these two transactions, the company will operate 864 lending locations in 21 states with $256.5 million in pawn loan balances, based on pawn loan balances outstanding as of June 30.
07:03 EDTFCFSFirst Cash Financial acquires 47 pawn stores in Mexico, 9 in U.S.
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August 22, 2014
09:34 EDTWRLDWorld Acceptance downgraded to Neutral from Buy at Sidoti
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August 19, 2014
07:44 EDTCSHCash America management to meet with JMP Securities
Meetings to be held in San Francisco August 25-26 hosted by JMP Securities.

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