Why EZCORP, OneMain Holdings, and Helix Energy Solutions Group Jumped Today
Many investors don't realize that the stock market is still open for business on some federal holidays. Market participants enjoyed a relatively quiet day on Monday, with major benchmarks easing lower from their record-setting sessions last week. Third-quarter earnings season is set to start in earnest later this week, and investors will want to see continued signs of overall strength throughout the economy. Some individual stocks posted significant gains today, reporting good news that made shareholders more optimistic about their future. EZCORP (NASDAQ: EZPW), OneMain Holdings (NYSE: OMF), and Helix Energy Solutions Group (NYSE: HLX) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of EZCORP climbed over 6% after the pawn shop operator said that it would make a major addition to its store network. The company currently has an extensive network of locations throughout the U.S. and Mexico, but today's deal involves a strategic acquisition of more than 110 pawn shops located in Guatemala, El Salvador, Honduras, and Peru. CEO Stuart Grimshaw said that the acquired stores have higher per-store loan balances and earnings than existing stores elsewhere in its network. EZCORP has benefited from its decision to concentrate on its core pawn business, and today's move further demonstrates its commitment to following through on its strategic vision.
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Source: Fool.com
