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Stock Market & Financial Investment News

News Breaks
February 20, 2013
10:02 EDTTSS, NTSP, GDOTGreen Dot climbs after competitor agrees to be acquired
Shares of prepaid debit card provider Green Dot (GDOT) are rising after the company's competitor, NetSpend Holdings (NTSP), announced last night that it had agreed to be acquired by Total System Services (TSS) for $16 per share. NetSpend's stock closed at $12.29 yesterday. However, in a note to investors earlier today, SunTrust analyst Andrew Jeffrey wrote that Green Dot is not likely to become a takeover target. Green Dot's valuation is similar to the level at which NetSpend was acquired, the analyst wrote. As a result, Green Dot's stock is unlikely to rise significantly, according to Jeffrey. Moreover, Green Dot is rapidly losing market share and is more exposed to retail customers than NetSpend, meaning that Green Dot is more vulnerable to falling prices and new competitors, the analyst believes. Finally, Green Dot owns a bank, and consequently only a bank holding company would be likely to acquire it, Jeffrey wrote. The analyst maintained a Reduce rating on Green Dot shares, which rose 44c, or 3%, to $15.07 in early trading.
News For GDOT;NTSP;TSS From The Last 14 Days
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August 25, 2015
09:19 EDTGDOTGreen Dot upgraded to Outperform from Sector Perform at Portales
Portales upgraded Green Dot to Outperform due to valuation and said the recent buyback and Wal-Mart contract renewal announcements led the firm to raise 2016 estimates.
August 17, 2015
15:02 EDTTSSTotal System names Patricia Watson Chief Information Officer
TSYS announced that Patricia Watson has been named senior executive VP and Chief Information Officer effective September 14. She succeeds Ken Tye.

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