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Stock Market & Financial Investment News

News Breaks
December 11, 2012
09:54 EDTGDOT, AXP, WMTGreen Dot rises after firm says company holding its own against Amex
Green Dot (GDOT), which provides prepaid debit cards, is climbing after research firm Piper Jaffray wrote that the company appears to be holding its own against a new competing offering from American Express (AXP). In a note to investors earlier today, Piper analyst Michael Grondahl wrote that the firm's survey of 75 Wal-Mart (WMT) stores indicated that American Express' (AXP) new debit card, Bluebird, is taking a significant amount of market share in only 15% of the stores, the analyst wrote. Forty-five percent of the stores that responded said that Green Dot hadn't lost any ground to American Express, while 40% said that Green Dot has been negatively impacted, but that its debit card is still selling well, the analyst wrote. Grondahl maintained an Overweight rating on Green Dot, which climbed 27c, or 2.19%, to $12.62.
News For GDOT;AXP;WMT From The Last 14 Days
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September 30, 2014
07:03 EDTAXPeBay says Dan Schulman to lead PayPal
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07:02 EDTAXPeBay says Devin Wenig to become CEO of new eBay company
Devin Wenig, currently president of eBay Marketplaces, will become CEO of the new eBay (EBAY) company. As CEO of eBay, Wenig will lead the eBay Marketplaces and eBay Enterprise businesses. Revenue over the last twelve months1 for these two businesses grew approximately 10% year-over-year to $9.9 billion, with eBay Marketplaces accounting for about $8.7 billion. eBay Marketplaces and eBay Enterprise collectively handled approximately $85 billion of gross merchandise volume and gross merchandise sales, which grew 13 percent year over year. Scott Schenkel, currently the CFO of eBay Marketplaces will become the CFO of the new eBay company. Concurrent with the announcement of the business separation plan, the company also today announced the appointment of Dan Schulman to be President of PayPal, effective immediately, and CEO-designee of the standalone PayPal company following separation. Schulman joins PayPal from American Express (AXP), where he was president of the company’s Enterprise Growth Group. A seasoned leader in multiple industries, Schulman has held senior executive and CEO roles at AT&T, Priceline and Virgin Mobile, prior to joining American Express. Goldman, Sachs & Co. and Allen & Company LLC are serving as financial advisors and Wachtell, Lipton, Rosen and Katz is serving as legal counsel to eBay Inc.
September 29, 2014
18:15 EDTWMTWal-Mart blames Tracy Morgan for his own injuries in car crash, USA Today says
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08:50 EDTWMTWal-Mart names Instagram CEO and co-founder Kevin Systrom to board
Wal-Mart Stores (WMT) announced that its Board of Directors has appointed Kevin Systrom, an entrepreneur, software engineer and co-founder of photo-sharing service Instagram (FB), as a new member of the company's Board, effective September 26. Systrom became the 15th member of the Board and will also serve as a member of the company's Technology and eCommerce Committee and its Compensation, Nominating and Governance Committee. Systrom is currently CEO of Instagram, where he is responsible for its day-to-day operations and has overseen its growth to more than 200 million monthly active accounts.
07:25 EDTAXPOracle to hold a conference
Open World 2014 to be held in San Francisco on September 28-October 2.
September 25, 2014
08:00 EDTAXPBuy American Express and Bank of America into earnings, says Morgan Stanley
Morgan Stanley says to buy American Express (AXP) and Bank of America (BAC) going into Q3 earnings. The firm expects American Express to report accelerated credit card spending growth and views valuation as compelling and views Bank of America is a play on rising rates and improving expenses.
07:21 EDTGDOTGreen Dot strength due to GoBank overdone, estimates cut at SunTrust
SunTrust said the pop in Green Dot (GDOT) shares yesterday related to GoBank's partnership with Wal-Mart (WMT) is overdone. The analyst cut 2014-2016 estimates, but raised its price target to $21 from $18, to reflect ongoing share losses at Wal-Mart, its largest customer, but notes downside could be limited if it exceeds its new conservative outlook. Shares are Neutral rated.
September 24, 2014
12:29 EDTWMT, GDOTOn The Fly: Midday Wrap
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09:49 EDTWMT, GDOTGreen Dot's 2014 guidance incorporates Wal-Mart, says Piper Jaffray
Green Dot (GDOT) announced this morning that it will offer its GoBank product at Wal-Mart (WMT) stores nationwide by the end of October. Piper said GoBank has been piloted in a few stores in Texas and the launch has already been incorporated into Green Dot's 2014 guidance and accounts for relatively little in revenues. The firm views the news as a positive in total and said it shows continued traction within GoBank and its relationship with Wal-Mart. Shares of GoBank are Overweight rated with a $24 price target.
09:05 EDTWMT, GDOTOn The Fly: Pre-market Movers
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05:14 EDTWMT, GDOTGreen Dot, Wal-Mart announce nationwide rollout of GoBank
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September 18, 2014
14:31 EDTAXPCapital One said to bump Amex as Costco Canada card issuer, Bloomberg says
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14:14 EDTAXPCapital One said to replace American Express as Costco Canada card issuer
MasterCard said to be processor for new Costco Canada cards. Reported by Bloomberg.
11:53 EDTAXPCostco to stop accepting Amex cards in Canada on Jan 1, 2015 Globe and Mail says
Costco (COST) said it will not renew its credit card relationship with American Express (AXP) when it expires on December 31 of this year. Therefore, it will not accept Amex cards in Canada beginning January 1, 2015, The Globe and Mail reports. Reference Link
10:40 EDTWMTWal-Mart to hire 60K seasonal associates, 10% more than last year
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06:12 EDTGDOTGreen Dot to acquire Santa Barbara Tax Products Group for $320M
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06:08 EDTGDOTGreen Dot expects to launch 'major new program' to make positive 2014 impact
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06:06 EDTGDOTGreen Dot cuts FY14 adjusted EBITDA to $122M-$126M from $128M-$132M
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06:05 EDTGDOTGreen Dot cuts FY14 non-GAAP revenue to $610M-$620M from $640M-$650M
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06:04 EDTGDOTGreen Dot cuts FY14 non-GAAP EPS $1.25-$1.29 from $1.37-$1.41, consensus $1.42
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