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Stock Market & Financial Investment News

News Breaks
October 10, 2012
09:59 EDTGDOT, CVS, AXPGreen Dot falls after firm says CVC close to deal with AmEx
Prepaid card issuer Green Dot (GDOT) is sliding after research firm Jefferies, in a note to investors earlier today, wrote that CVS (CVS) may be planning to offer American Express (AXP) prepaid cards. CVS is one of Green Dot's largest distribution partners, and generates about 6% of the card issuer's total revenues, according to Jefferies. Due to American Express' rapid encroachment on Green Dot's largest distribution partners, the firm reduced its 2012 and 2013 revenue and earnings per share estimates for the company. Jefferies also slashed its price target on Green Dot to $13 from $17 and maintained a Hold rating on the stock. In early trading, Green Dot sank 40c, or 4%, to $9.60. The shares fell significantly Monday after Wal-Mart, another distribution partner of Green Dot, announced a deal to roll-out American Express prepaid cards in 4,000 of its store.
News For GDOT;AXP;CVS From The Last 14 Days
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November 20, 2014
10:02 EDTAXPOn The Fly: Analyst Initiation Summary
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November 19, 2014
16:39 EDTAXPAmerican Express initiated with a Market Perform at Bernstein
11:50 EDTGDOTSenate Special Aging Committee to hold a hearing
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07:07 EDTGDOTCitigroup to hold a conference
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November 17, 2014
12:03 EDTAXPAmerican Express reports October net write-off rate 1.3% vs. 1.2% last month
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09:00 EDTAXPDollar General says now accepting American Express cards
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November 14, 2014
14:53 EDTCVSCVS Express Scripts implementing drug price controls, says Cleveland Research
Cleveland Research believes that CVS (CVS) and Express scripts are implementing rebates and price controls on drug. The firm expects the companies to increase their focus on controlling durg prices next year, and adds that they have already itnroduced prior authorization criteria for hepatitis drug. Publicly traded drug companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Makers of hepatits c drugs include AbbVie (ABBV) and Gilead (GILD),
November 13, 2014
10:10 EDTAXPAmerican Express CFO sees opportunity to change cardmember mindset on borrowing
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10:01 EDTAXPOn The Fly: Analyst Initiation Summary
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10:01 EDTAXPAmerican Express CFO sees high-growth rate in cash-back products
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07:24 EDTGDOTSunTrust to hold a conference
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05:36 EDTAXPAmerican Express initiated with a Hold at Deutsche Bank
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November 12, 2014
08:19 EDTGDOTJPMorgan to hold a conference
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08:07 EDTAXPMacy's, Citi Retail Services renew card agreement
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07:28 EDTAXPBofA/Merrill to hold a conference
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November 10, 2014
15:17 EDTGDOT, AXPCFPB may require added disclosures on prepaid cards, WSJ says
The Consumer Financial Protection Bureau is expected to propose new rules later this week that will require more disclosure for prepaid debit cards and cracking down on allowing consumers to spend more money on the cards than they have, according to The Wall Street Journal, citing people familiar with the matter. The rules come as traditional financial institutions, such as JPMorgan (JPM) and American Express (AXP) have moved into the business and the industryís biggest players donít allow overdrafts so it is unclear whether the new rules will dent industry profits, the report said. Green Dot (GDOT) also does not permit overdrafts and Visa (V) recently excluded overdraft abilities in guidelines for its prepaid cards, the report added. Reference Link
15:07 EDTGDOT, AXPRegulators may require added disclosures on prepaid cards, DJ says
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