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Stock Market & Financial Investment News

News Breaks
July 11, 2014
11:19 EDTCONN, AAN, RCIIRent-A-Center plummets after Q2 profit warning
Shares of rent-to-own operator Rent-A-Center (RCII) are sinking after the company’s second quarter profit outlook significantly trailed analysts’ consensus estimates. WHAT'S NEW: Last night, Rent-A-Center forecast Q2 adjusted earnings per share of 36c-38c and revenue of $773M, far short of the consensus views of 48c and $786.4M, respectively. The company’s CEO Robert Davis said, “Macro-economic pressures continue to burden our financially constrained customers contributing to softer than expected demand in our U.S. business segments. Consequently, revenue and earnings for Q2 will not meet expectations. We are not satisfied with our Q2 results and hold ourselves accountable for improving our performance. To that end, we are excited to announce a new product line in our domestic retail stores with our entrance into the burgeoning smartphone business.” WHAT’S NOTABLE: The company’s smartphone rollout offers consumers nationwide one-stop shopping for a variety of name-brand smartphones and no-contract plans, a rent-to-own industry first, the company said. PRICE ACTION: In late morning trading, Rent-A-Center fell $3.22, or about 11%, to $25.86 on more than twice its average daily trading volume. Including today’s pull back, the stock has lost approximately 36% over the past twelve months. OTHERS TO WATCH: Other companies that provide leasing and rent-to-own arrangements of consumer products include Aaron’s (AAN), which is down 3.3%, and CONN’S (CONN), which is down 3.5%.
News For RCII;AAN;CONN From The Last 14 Days
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February 9, 2016
17:19 EDTRCIIRent-A-Center to replace F.N.B. in S&P 600 as of 2/12 close
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17:19 EDTRCIIF.N.B. to replace Rent-A-Center in S&P 400 as of 2/12 close
F.N.B. (FNB) is acquiring Metro Bancorp (METR) in a deal expected to be completed on or about that date pending final approvals
06:09 EDTCONNConn's reports January SSS up 0.5% including all product categories
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06:08 EDTCONNConn's reports Q4 revenue $376.5M, consensus $455.88M
Conn's reported $101.0M in total retail net sales for the month ended January 31 a 7.9% increase compared to the same prior year period. For the three months ended January 31 total retail net sales were $376.5M, a 7.4% increase compared to the same prior year period. Company said, "Greater than 60-day delinquency was 9.9% as of January 31 compared to 9.7% as of January 31, 2015. The delinquency rate was flat as of January 31 compared to December 31, 2015, consistent with the trend in the same period a year ago."
February 2, 2016
06:24 EDTRCIIOptions expected to be active
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February 1, 2016
19:09 EDTRCIIOn The Fly: After Hours Movers
UP AFTER EARNINGS: Alphabet (GOOG, GOOGL), up 5.2% and 4.7%, respectively... Mattel (MAT), up 5.6%... Anadarko Petroleum (APC), up 4%... AFLAC (AFL), up 1.5%. ALSO HIGHER: PVH Corp. (PVH), up 8.1% after giving guidance for fiscal 2015 and entering a license agreement with G-III Apparel (GIII) for Tommy Hilfiger womenswear collections. DOWN AFTER EARNINGS: Integrated Device (IDTI), down 15.8%... Rent-A-Center (RCII), down 9.6%. ALSO LOWER: Pixelworks (PXLW), down 5.7% after giving fourth quarter guidance and announcing the resignation of its CEO... PDL BioPharma (PDLI), down 14.3% after cutting its quarterly dividend to 5c per share from 15c per share.
16:54 EDTRCIIRent-A-Center sees FY16 core U.S. SSS down 1%-3%
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16:52 EDTRCIIRent-A-Center reports Q4 adjusted EPS 54c, consensus 52c
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14:32 EDTRCIINotable companies reporting after market close
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January 29, 2016
10:03 EDTRCIIHigh option volume stocks: GIMO CSOD NAVI ALGN IMPV LC INO FMC VMW RCII
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