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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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November 19, 2014
11:50 EDTGDOTSenate Special Aging Committee to hold a hearing
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10:00 EDTTSSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Beacon Roofing (BECN) downgraded to Hold from Buy at KeyBanc... BlackBerry (BBRY) downgraded to Underweight from Equal Weight at Morgan Stanley... Consolidated Edison (ED) downgraded to Sell from Neutral at UBS... Denbury Resources (DNR) downgraded to Hold from Buy at Wunderlich... Synchronoss (SNCR) downgraded to Underperform from Neutral at RW Baird... Total System (TSS) downgraded to Sell from Neutral at Goldman... Movado (MOV) downgraded to Market Perform from Outperform at Barrington... Transocean Partners (RIGP) downgraded to Market Perform from Outperform at Wells Fargo... Seadrill Partners (SDLP) downgraded to Market Perform from Outperform at Wells Fargo... Petrobras (PBR) downgraded to Neutral from Buy at UBS.
07:07 EDTGDOTCitigroup to hold a conference
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06:10 EDTTSSTotal System downgraded to Sell from Neutral at Goldman
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November 14, 2014
10:00 EDTTSSOn The Fly: Analyst Downgrade Summary
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05:42 EDTTSSTotal System downgraded to Market Perform from Outperform at JMP Securities
JMP Securities downgraded Total System Services to Market Perform saying the proposed rules by the CFPB are an "unambiguous effort" to ban overdraft fees on pre-paid cards. JMP views the shares as fairly valued at current levels.
November 13, 2014
15:01 EDTTSSTotal System announces new licensing agreement with Fair Isaac
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07:24 EDTGDOTSunTrust to hold a conference
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November 12, 2014
08:19 EDTGDOTJPMorgan to hold a conference
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