Monday, July 28, 2003 11:02:10 PM
E-Loan Shares Shed 9%
By Paula Lacê
Markets Reporter
07/24/2003 03:25 PM EDT
Click here for more stories by Paula Lacê
E-Loan (EELN:Nasdaq - commentary - research) shares were slipping Thursday, even though the company posted strong earnings.
The company beat second-quarter profit estimates by a penny, as net income rose to $8.1 million, or 12 cents a share, from $900,000, or 2 cents a share, in the year-ago period. Revenue rose to $45.9 million from $21 million in the second quarter of 2002.
But following the report, E-Loan shares were down 57 cents, or 9%, at $5.77 on volume of eight million shares, four times its average trading volume. The share drop apparently was related to investors' concerns that an expected drop in home refinancing will hurt the consumer lender's business next year.
"The story is not this year. It's actually refinancing activity, which is expected to decline going into 2004, and could lead to lower earnings then," said Todd Halky, an analyst at Putnam Lovell.
Halky said refinancing volume was very robust this year, but "while the company has done an excellent job in increasing its revenue, it won't be enough to offset the decline in refinancing."
http://www.thestreet.com/_yahoo/markets/paulalace/10103436.html
Perhaps your enfn investment will finance your great-grandkids' college education.
The Shark
Recent ENFN News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/18/2024 08:15:56 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/18/2024 07:50:43 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/18/2024 07:45:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 01:14:07 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/14/2024 07:16:22 PM
- Enfusion To Present at Upcoming Investor Events • Business Wire • 05/29/2024 08:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/22/2024 07:36:24 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/20/2024 08:29:53 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:15:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 11:45:15 AM
- Enfusion Announces First Quarter 2024 Results • Business Wire • 05/09/2024 11:30:00 AM
- Enfusion Announces Date of First Quarter 2024 Results • Business Wire • 04/18/2024 12:30:00 PM
- Kayne Anderson Strengthens Investment Operations After Successful Platform Migration to Enfusion • Business Wire • 03/21/2024 12:00:00 PM
- Enfusion Announces Fourth Quarter 2023 Results and Full Year 2023 Results • Business Wire • 03/12/2024 11:30:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/07/2024 10:15:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 01:26:47 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 01:25:47 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 01:24:16 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 01:21:58 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 01:20:58 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:35:30 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 12:32:29 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/29/2024 08:22:31 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/16/2024 09:46:34 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/15/2024 09:46:26 PM
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM