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Stock Market & Financial Investment News

News Breaks
July 11, 2014
11:19 EDTRCII, AAN, CONNRent-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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October 24, 2014
10:37 EDTAANAaron's says as Q4 progresses, expects to see margin improvements
10:21 EDTAANAaron's says retail environment remains 'challenging'
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07:15 EDTAANAaron's reports Q3 same store revenue down 2.8%
Reports Q3 customer count on a same store basis was down 3.9%. For Company-operated stores open over two years at the end of September 2014, same store revenues decreased 3.7% during the third quarter of 2014 compared to the third quarter of 2013. The Company had 1,072,000 customers and its franchisees had 574,000 customers at the end of the most recent quarter.
07:14 EDTAANAaron's expects $50M in annual cost savings achieved by 2015-end
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07:05 EDTAANAaron's sees FY14 non-GAAP EPS $1.62-$1.67, consensus $1.68
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07:04 EDTAANAaron's sees Q4 non-GAAP EPS 34c-39c, consensus 39c
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07:03 EDTAANAaron's reports Q3 non-GAAP EPS 39c, consensus 37c
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October 23, 2014
15:39 EDTAANNotable companies reporting before tomorrow's open
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October 21, 2014
10:00 EDTRCIIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AbbVie (ABBV) downgraded to Neutral from Buy at Guggenheim... BHP Billiton (BHP) downgraded to Hold from Buy at Jefferies... Bank of Marin (BMRC) downgraded to Market Perform from Outperform at Keefe Bruyette... Cobalt (CIE) downgraded to Speculative Buy from Buy at Global Hunter... Consolidated Edison (ED) downgraded to Underweight at Morgan Stanley... Deutsche Post (DPSGY) downgraded to Hold from Buy at Deutsche Bank... HCP (HCP) downgraded to Hold from Buy at Jefferies... IBM (IBM) downgraded to Hold from Buy at Evercore... Inland Real Estate (IRC) downgraded to Underperform from Neutral at BofA/Merrill... PerkinElmer (PKI) downgraded to Neutral from Buy at Janney Capital... Philips (PHG) downgraded to Neutral at UBS... QEP Midstream Partners (QEPM) downgraded to Market Perform at Wells Fargo... Rent-A-Center (RCII) downgraded to Market Perform from Outperform at Raymond James... Rhino Resources (RNO) downgraded to Underperform from Market Perform at Raymond James... Universal Forest (UFPI) downgraded to Neutral from Buy at Sterne Agee.
07:20 EDTRCIIRent-A-Center downgraded to Market Perform from Outperform at Raymond James
Raymond James downgraded Rent-A-Center to Market Perform due to valuation.
October 20, 2014
16:24 EDTRCIIRent-A-Center backs FY14 guidance provided during Q2
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16:23 EDTRCIIRent-A-Center reports Q3 EPS 48c, consensus 47c
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15:30 EDTRCIINotable companies reporting after market close
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10:38 EDTRCIIHigh option volume stocks
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October 13, 2014
14:00 EDTAANCalifornia AG announces $28.4M settlement with Aaron's
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