On Wednesday, Shares of Synchrony Financial (NYSE:SYF), gained 0.61% to $31.53.
As consumers deck their halls and hit the malls over the coming weeks, they are doing so with more optimism about their personal finances, according to an independent study by Synchrony Financial (NYSE: SYF), the nation’s largest provider of private label credit cards. Nearly half (47%) of those surveyed indicate they are more confident in their financial situation than last year (37%), and 48% plan to start their holiday shopping earlier this year.
Improved finances and larger gift lists are cited as reasons that 32% of shoppers surveyed plan to spend more this season than last season, up from 21% in 2014. Toys, games, electronics, apparel, shoes and gift cards are key gift buying categories. At the same time, over half (53%) of participants set a holiday budget and 76% report they always comparison shop to ensure the best price.
While shoppers surveyed are more confident, deals remain essential for holiday buying, and 39% report they expect to get the best deals on Black Friday. Of participants who expect to spend more this season, 90% intend to shop on special sale days. One-third of all respondents plan to start shopping before Black Friday, 54% expect to make a purchase on Black Friday, and 55% on Cyber Monday. Online research is an important part of the purchase process, especially for higher ticket items. Specifically, survey participants plan to purchase online more home improvement and electronics items in the $500+ category.
Synchrony Financial operates as a consumer financial services company in the United States. The company offers private label credit cards, dual cards, and small and medium-sized business credit products; and promotional financing for consumer purchases, such as private label credit cards and installment loans.
Shares of Sprint Corp (NYSE:S), declined -1.83% to $3.76, during its last trading session.
Sprint, Chief Financial Officer Tarek Robbiati will speak at the Bank of America Merrill Lynch 2015 Leveraged Finance Conference in Boca Raton, Fla. on Friday, Dec. 4 at 7:30 a.m. ET.
Sprint Corporation, through its auxiliaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the U.S. Virgin Islands.
Finally, Shares of Ion Geophysical Corp (NYSE:IO), ended its last trade with 6.50% loss, and closed at $0.62.
ION Geophysical Corporation, stated third quarter 2015 net loss of $20.4 million, or $(0.12) per share. The third quarter results were influenced by special items totaling $3.5 million, or $(0.02) per share, primarily related to severance charges. Not Taking Into Account special items, the Companys third quarter adjusted net loss was $16.9 million, or $(0.10) per share, on revenues of $66.7 million, contrast to a net loss of $24.5 million, or $(0.15) per share, on revenues of $106.5 million in third quarter 2014. A reconciliation of special items to 2015 and 2014 can be found in the financial tables of this press release.
At September 30, 2015, the Companys total liquidity was $128.2 million comprising of cash and cash equivalents of $88.2 million and the $40.0 million available on the Companys recently amended revolving credit facility. The Company consumed cash before financing activities of $80.5 million during the first nine months of 2015 and generated cash before financing activities of $36.0 million in the preceding year period. The Company stated a positive Adjusted EBITDA for third quarter 2015 of $7.5 million, contrast to $13.0 million one year ago. Year-to-date 2015 Adjusted EBITDA was $(60.0) million, contrast to $83.0 million in the preceding year period. A reconciliation of Adjusted EBITDA can be found in the financial tables of this press release.
Brian Hanson, IONs President and Chief Executive Officer, commented, We indicated on our second quarter earnings call that we anticipated our third quarter revenues to be up over the first two quarters primarily as a result of starting data acquisition on our industry-funded Mexico SPANTM program. We accomplished acquisition in late October and are presently processing the data. Our clients are very happy with the quality of the fast track data we have delivered so far.
ION Geophysical Corporation provides geo science technology, services, and solutions for the oil and gas industry worldwide. It operates through four segments: Solutions, Systems, Software, and Ocean Bottom Services.
