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Stock Market & Financial Investment News

News Breaks
January 28, 2014
11:42 EDTRCII, CONN, AANRent-A-Center plunges after 'most challenging December in years' dings profit
Rent-to-own operator Rent-A-Center (RCII) is one of today's losers after the company's fourth quarter results and fiscal 2014 profit guidance fell significantly below expectations. WHAT'S NEW: Last night, Rent-A-Center reported fourth quarter earnings per share of 25c and revenue of $769.6M, compared to analysts' consensus estimates of 75c and $787.95M, respectively. Same-store sales declined 1.1% for the company in the quarter. The company forecast FY14 EPS of $2.30-$2.50, compared to consensus of $3.20, and revenue growth of 4.5%-7.5%. The company expects same-store sales to be up 3%-5.5% this fiscal year. The company said the large profit miss was mainly attributable to a reduction in gross profit in the Core U.S. segment and an overall increase in operating expenses. “We continue to face meaningful headwinds in our domestic U.S. rent-to-own business, including a customer under severe economic pressure and an intensified promotional environment. These conditions significantly impacted our Core U.S. segment customer agreement growth in December, which was the most challenging in years," said Rent-A-Center CEO Mark Speese. ANALYST REACTION: In a note to investors this morning, research firm Canaccord Genuity maintained a Hold rating on the shares with a $31 price target. The firm said they would remain on the sidelines as the company's core rent-to-own business was struggling and there was no clear catalyst in place to revive it. Canaccord added that the company's 2014 guidance suggests its collections costs are "sky-rocketing." PRICE ACTION: In late morning trading, Rent-A-Center shares tumbled over 19% to $25.12 on nearly seven times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $24.75. Over the past twelve months, the stock has lost approximately 28%. OTHERS TO WATCH: Rent-A-Center's competitors include Aaron's (AAN) and CONN's (CONN). Shares of Aaron's were up 1% in morning trading, while CONN's slipped 0.5%.
News For RCII;AAN;CONN From The Last 14 Days
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July 27, 2015
10:13 EDTRCIIHigh option volume stocks
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07:26 EDTAANAaron's shares should be bought on weakness, says KeyBanc
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July 24, 2015
07:20 EDTAANAaron's raises FY15 non-GAAP EPS $2.15-$2.35 from $2.01-$2.21, consensus $2.15
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07:19 EDTAANAaron's reports Q2 Progressive's revenue $255.9M
Progressive had 473,000 customers at June 30, 2015. Progressive's results of operations beginning on its acquisition date of April 14, 2014 were included in the Company's financial statements for the second quarter of 2014.
07:19 EDTAANAaron's reports Q2 same store revenue down 4.4%
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07:18 EDTAANAaron's reports Q2 Sales & Lease Ownership sales down 3.9% to $496.7M
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07:17 EDTAANAaron's reports Q2 non-GAAP EPS 61c, consensus 45c
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July 23, 2015
10:00 EDTAANOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ARRIS (ARRS) initiated with a Buy at Drexel Hamilton... AVG Technologies (AVG) initiated with an Overweight at JPMorgan... Aaron's (AAN) initiated with a Hold at Cantor... Aimco (AIV) initiated with a Hold at Canaccord... American Campus (ACC) initiated with a Hold at Canaccord... Antero Midstream (AM) initiated with a Buy at DA Davidson... Cheniere Energy Partners LP (CQP) initiated with a Buy at DA Davidson... CommScope (COMM) initiated with a Buy at Drexel Hamilton... Digirad Corp (DRAD) initiated with a Buy at B. Riley... Dominion Midstream (DM) initiated with a Buy at DA Davidson... Education Realty (EDR) initiated with a Buy at Canaccord... Enterprise Products (EPD) initiated with a Buy at DA Davidson... Essex Property Trust (ESS) initiated with a Hold at Canaccord... Extra Space Storage (EXR) initiated with an Outperform at Baird... Harmonic (HLIT) initiated with a Hold at Drexel Hamilton... Imprimis (IMMY) initiated with a Buy at Sterne Agee CRT... National Retail Properties (NNN) initiated with a Neutral at DA Davidson... Nutrisystem (NTRI) initiated with a Buy at Lake Street... PLC Systems Inc (PLC) initiated with a Buy at Sterne Agee CRT... PayPal (PYPL) initiated with a Neutral at UBS... Preferred Apartment (APTS) initiated with a Buy at Canaccord... Public Storage (PSA) initiated with a Neutral at Baird... Realty Income (O) initiated with a Neutral at DA Davidson... RingCentral (RNG) initiated with an Overweight at JPMorgan... SeaChange (SEAC) initiated with a Hold at Drexel Hamilton... Sovran Self Storage (SSS) initiated with an Outperform at Baird... Spectra Energy Partners (SEP) initiated with a Buy at DA Davidson... U-Store It Trust (YSI) initiated with an Outperform at Baird... Whitestone REIT (WSR) initiated with an Outperform at Baird... eBay (EBAY) initiated with an Equal Weight at Morgan Stanley.
July 22, 2015
16:06 EDTAANAaron's initiated with a Hold at Cantor
Target $37.

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