U.S. Market:
AIG - 55.135 +0.155 0.282% Apple - 115.65 +1.02 0.89% Bank of America - 17.21 +0.11 0.643% Cisco - 27.695 -0.125 -0.449% Citigroup - 54.70 +0.34 0.625% Coca-Cola - 43.895 -0.645 -1.448% Facebook - 75.145 -0.315 -0.417% Ford - 16.11 +0.21 1.321% GE - 26.375 +0.325 1.248% Hewlett-Packard - 38.89 -0.06 -0.154% Intel - 37.70 +0.10 0.266% JPMorgan - 61.15 +0.07 0.115% McDonald's - 95.215 +0.105 0.11% Microsoft - 48.16 -0.30 -0.619% Pfizer - 31.39 -0.18 -0.57% Starbucks - 80.30 -0.07 -0.087%

Cash America looking to spin off online lending business


(Reuters) - Payday lender Cash America International Inc is revisiting a plan to spin off of its online lending business as the company looks to focus more on its pawn lending operations. Shares of the company, which also raised its first-quarter earnings forecast, rose 12.3 percent in premarket trading. Cash America said that while a final decision is yet to be made, the separation of Enova International Inc would create a publicly traded company with about $766 million in revenue as of December 31. In the event of a spinoff, Cash America said it would operate the storefront pawn lending businesses, while Enova would run the online lending business with operations in the United States, UK, Australia and Canada.
468 ad