Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Rent-A-Center (Nasdaq: RCII ) shares jumped 12% today after the company announced positive earnings and guidance.
So what: Adjusted earnings per share for the third quarter were $0.62, beating estimates of $0.55 per share. The company also announced guidance for 2011 at $2.85 to $3.05 per share, in line with analysts' expectation of $2.89.
Now what: Rent-A-Center's results are in line with a positive report by Aaron's today. Both companies are firing on all cylinders right now, and with a price/earnings of less than 10, Rent-A-Center looks like a real value. There are regulatory concerns hanging over both companies, keeping their stock prices low for now.
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