AmeriCredit Pays for Its Lowered Outlook

Investors sold the shares Thursday after the consumer-finance company trimmed its 2007 earnings forecast

The summer of 2007 credit crunch sell-off resumed on Aug. 9, so any company involved in lending didn't go untouched. Auto finance company AmeriCredit (ACF) lowered its earnings outlook for fiscal year 2008 on Aug. 9, sending its shares, and those of other consumer finance stocks, down.

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