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Stock Market & Financial Investment News

News Breaks
June 24, 2014
08:30 EDTZION, PNC, AEA, CSH, FCFS, EZPW, DLLRDOJ pushing on with payment-processing probe despite critics, WSJ says
Attorney General Eric Holder said he will bring more cases against banks and payment-processing companies as part of the "Operation Choke Point" probe that has been opposed by political critics and a group representing short-term lenders, said The Wall Street Journal. A previously disclosed DOJ memo showed the agency has opened civil investigations into 10 banks and payment processors as part of "Operation Choke Point," and some banks, including Zions Bancorp (ZION) and PNC Financial (PNC), have disclosed they are subject to the probe in regulatory filings, the report said. Advance America (AEA) and the Community Financial Services Association of America, a trade group representing short-term lenders, filed a lawsuit against bank regulators, alleging that a federal crackdown on their industry represents an abuse of the government's authority. Other publicly traded payday lenders include Cash America (CSH), First Cash Financial (FCFS), EZCORP (EZPW), and DFC Global (DLLR), though the Journal's story did not mention any of these companies by name. Reference Link
News For ZION;PNC;AEA;CSH;FCFS;EZPW;DLLR From The Last 14 Days
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October 28, 2014
16:30 EDTFCFSFirst Cash Financial acquires 15 pawn stores for $25.3M in cash
First Cash Financial Services announced that it is acquiring a chain of 15 large format pawn stores located in the states of Kentucky, Missouri, Tennessee and South Carolina. With this acquisition, the company now operates over 1,000 total store locations in 13 U.S. states and 29 states in Mexico. The company expects the acquired stores, all of which make pawn loans on a wide array of general merchandise collateral and have significant retail operations, to mesh well with First Cash's operating strategy and to become accretive to earnings in 2015. For the full year, the company now expects to add approximately 115 total locations. The purchase price for the all-cash asset acquisition of the 15-store chain is approximately $25.3M, subject to certain working capital adjustments. The company has completed the purchase for 13 of the locations and expects to complete the acquisition of the other two locations by year end. Including the impact of transaction costs and integration expenses, the company expects limited earnings accretion from these acquisitions in 2014.
October 27, 2014
16:30 EDTEZPWEZCORP says two segments results lower than expected in Q4
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16:10 EDTEZPWEZCORP sees Q4 adjusted EPS 27c, consensus 34c
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10:00 EDTPNCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abraxas Petroleum (AXAS) downgraded to Hold from Buy at Stifel... Anadarko (APC) downgraded to Neutral from Buy at Goldman... Basic Energy (BAS) downgraded to Sell from Buy at Goldman... Cabot Oil & Gas (COG) downgraded to Sector Perform from Outperform at Howard Weil... Coca-Cola (KO) downgraded to Neutral from Buy at Buckingham... CommScope (COMM) downgraded at BofA/Merrill... Concho Resources (CXO) downgraded to Hold from Buy at Stifel... Consolidated Communications (CNSL) downgraded to Market Perform at Raymond James... Continental Resources (CLR) downgraded to Neutral from Buy at Goldman... Covanta (CVA) assumed with a Neutral from Outperform at Macquarie... DCP Midstream (DPM) downgraded to Neutral from Buy at Goldman... Denbury Resources (DNR) downgraded to Hold from Buy at Stifel... Diamond Offshore (DO) downgraded to Sell from Neutral at Goldman... Diana Shipping (DSX) downgraded to Hold from Buy at Deutsche Bank... EP Energy (EPE) downgraded to Neutral from Buy at Goldman... EZchip (EZCH) downgraded to Neutral from Buy at Chardan... Emerge Energy (EMES) downgraded to Neutral from Buy at Goldman... Encore Wire (WIRE) downgraded to Neutral from Buy at DA Davidson... Enduro Royalty Trust (NDRO) downgraded to Neutral from Buy at Goldman... First Niagara (FNFG) downgraded to Sector Perform from Outperform at RBC Capital... GOL Linhas (GOL) downgraded to Neutral from Buy at BofA/Merrill... Goodrich Petroleum (GDP) downgraded to Hold from Buy at Stifel... Halliburton (HAL) downgraded to Buy from Conviction Buy at Goldman... Home Loan Servicing (HLSS) downgraded to Neutral from Buy at Citigroup... ICON plc (ICLR) downgraded to Equal Weight from Overweight at Barclays... IHS Inc. (IHS) downgraded to Equal Weight from Overweight at Barclays... Jones Energy (JONE) downgraded to Hold from Buy at Stifel... Laredo Petroleum (LPI) downgraded to Sell from Neutral at Goldman... Lloyds Banking (LYG) downgraded to Underperform from Hold at Jefferies... Midcoast Energy (MEP) downgraded to Neutral from Buy at Goldman... PDC Energy (PDCE) downgraded to Hold from Buy at Stifel... PNC Financial (PNC) downgraded at Sterne Agee... Parsley Energy (PE) downgraded to Sell from Neutral at Goldman... Patterson-UTI (PTEN) downgraded to Neutral from Conviction Buy at Goldman... Pioneer Energy (PES) downgraded to Neutral from Buy at Goldman... Precision Castparts (PCP) downgraded at RBC Capital... Royal Gold (RGLD) downgraded to Neutral from Overweight at HSBC... SM Energy (SM) downgraded to Hold from Buy at Stifel... Sanchez Energy (SN) downgraded to Hold from Buy at Stifel... Scorpio Bulkers (SALT) downgraded to Hold from Buy at Deutsche Bank... Synergy Resources (SYRG) downgraded to Hold from Buy at Stifel... Ventas (VTR) downgraded to Neutral from Buy at UBS... Whiting Petroleum (WLL) downgraded to Hold from Buy at Stifel... Zumiez (ZUMZ) downgraded to Neutral from Buy at DA Davidson.
09:20 EDTPNCPNC Financial downgraded at Sterne Agee
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06:40 EDTPNCPNC Financial downgraded to Neutral from Buy at Sterne Agee
October 23, 2014
06:28 EDTCSHCash America: Growth largely associated with customer demand for credit products
Management believes that the opportunities for growth in revenue and earnings will be largely associated with customer demand for the credit products provided by the company, which take the form of pawn loans and consumer loans and the disposition of unredeemed collateral by way of consumer spending on retail sales and the commercial sale of refined gold and diamonds. The fourth quarter, during the seasonally important holiday selling season, represents an important period of retail sales for the company, and results will be affected by consumer sentiments during the period. There are various other elements that could affect the growth in revenue, such as the regulation of consumer loan products and the development and growth of additional markets for the company’s e-commerce segment for consumer lending products. As the company enters the fourth quarter of 2014, management anticipates that demand for the company’s consumer loan products will continue on a similar pace to the one it has experienced during the first nine months of 2014, with a continued heavier weighting to the consumer loan portfolio and longer-term installment and line of credit products. Demand for the Company’s pawn lending products during the second and third quarters of 2014 have improved, and management expects a continued growth in the Company’s pawn lending business, but at moderate levels for the balance of 2014 and the first half of 2015.
06:16 EDTCSHCash America sees FY15 adjusted EBITDA $110M-$135M for retali services
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06:15 EDTCSHCash America sees FY14 adjusted EPS $4.40-$4.50, consensus $4.34
Management expects its consolidated fiscal year 2014 earnings per share to be in a range of between $4.40 and $4.50 per share as if the separation of the e-commerce business does not occur before year end 2014.
06:14 EDTCSHCash America sees Q4 EPS $1.00-$1.10, consensus 97c
Management is providing its expectations for the fourth quarter of 2014 as if the separation of the e-commerce segment, or Enova, does not occur before year-end 2014 in order to remain consistent with past practice related to reporting management’s expectations for future periods.
06:13 EDTCSHCash America reports Q3 EPS 82c, consensus 77c
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October 22, 2014
16:48 EDTCSHCash America board approves spin-off of Enova International
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06:37 EDTFCFS, CSH, EZPWStates relax personal loan restrictions, NY Times says
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October 20, 2014
16:13 EDTZIONZions Bancorp reports Q3 EPS 40c, consensus 44c
The estimated Tier 1 common equity ratio increased to 11.88% at September 30. Net loans and leases held for investment increased $110M to $39.7B. The allowance for credit losses was $690M. Tangible book value per share for Q3 was $26.00.
15:30 EDTZIONNotable companies reporting after market close
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12:24 EDTEZPWEZCORP recommended as long idea by Nikolayevsky, Bloomberg says
Bloomberg cites comments made by Anna Nikolayevsky of Axel Capital Management at the Robin Hood Conference.
06:40 EDTPNCPNC Financial downgraded to Hold from Buy at Deutsche Bank
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October 17, 2014
09:06 EDTPNCJPMorgan and PNC Financial weakness a buying opportunity, say Morgan Stanley
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