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Stock Market & Financial Investment News

News Breaks
February 26, 2013
09:14 EDTV, JPMJPMorgan announces new partnership with Visa, Chase Merchant Services
JPMorgan Chase (JPM) announced during its Investor Day presentation a new payments partnership with Visa (V). Chase Merchant Services, a customized processing and end-to-end payments platform in partnership with Visa, will be in market by year end, according to JPMorgan's presentation.
News For JPM;V From The Last 14 Days
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January 29, 2016
17:12 EDTVOn The Fly: Top stock stories for Friday
Stocks began the session in positive territory and remained there throughout the day. The early strength was attributed to the surprise cut in interest rates by the Bank of Japan that put the country in a negative interest rate scenario. The market gained strength throughout the day and put in gains of almost 2.5% in what was a broad based advance for the major averages. January closed out with two winning weeks, but the month was still a very bad one for stocks, as the S&P lost over 5% even after today's strong showing. ECONOMIC EVENTS: In the U.S., the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The Chicago PMI business barometer bounced to 55.6 in January, topping forecasts for a 45.3 reading. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast. In a surprise move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: Shares of Amazon (AMZN) declined 7.6% to $587 after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings after last night's closing bell, gained 5.8% to $55.09... Confirming a news report that broke late in the day yesterday, Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44. MAJOR MOVERS: Among the notable gainers was Axiall (AXLL), which jumped 83% to $17.94 after it came to light that the company received, and rejected, an unsolicited proposal from Westlake Chemical (WLK) offering to acquire the company for $20 per share in cash and stock. Also higher were Visa (V) and Mastercard (MA), which gained 7% and 6.4%, respectively, after reporting quarterly earnings. Among the notable losers was Gilead (GILD), which fell 5.5% to $82.70 after rival Merck (MRK) received FDA approval for its own hepatitis C drug. Also potentially weighing on Gilead shares was the fact that competitor AbbVie (ABBV) announced financial results for the fourth quarter, including sales of Viekira Pak, its own hep C treatment, that fell short of estimates. AbbVie fell 2.3% to $54.58 following its quarterly report. INDEXES: The Dow rose 396.66, or 2.47%, to 16,466.30, the Nasdaq gained 107.28, or 2.38%, to 4,613.95, and the S&P 500 added 46.88, or 2.48%, to 1,940.24.
13:02 EDTJPMBarclays names Venkatakrishnan chief risk officer
Barclays (BCS) has named C.S. Venkatakrishnan as Chief Risk Officer. Venkatakrishnan joins Barclays from JP Morgan Chase (JPM) where he has been the Head of Model Risk and Development since 2012 and Head of Operational Risk since September 2013. He will join the Executive Committee of Barclays and report directly to the group CEO Jes Staley. Once Mr Venkatakrishnan assumes his new role, current Chief Risk Officer Robert Le Blanc will become Vice Chair of Risk and Strategy, reporting to Staley. Reference Link
10:03 EDTVVisa announces launch of Visa Commerce Network
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January 28, 2016
19:09 EDTVOn The Fly: After Hours Movers
UP AFTER EARNINGS: Gigamon (GIMO), up 15.2%... QLogic (QLGC), up 11%... Fortinet (FTNT), up 9.2%... ShoreTel (SHOR), up 5.7%... Skyworks (SWKS), up 3.6%... Flextronics (FLEX), up 4.6%... Microsoft (MSFT), up 3.6%... Proofpoint (PFPT), up 3.1%. ALSO HIGHER: Palo Alto Networks (PANW) is up 1.1% and FireEye (FEYE) is up 1.6% after Fortinet reported quarterly results. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 13.2%... Synaptics (SYNA), down 3.8%... Electronic Arts (EA), down 8%... Quality Systems (QSII), down 9%... Visa (V), down 1.2%. ALSO LOWER: Facebook (FB) is down 1.2%, Netflix (NFLX) is down 2.7%, and Alphabet (GOOG, GOOGL) is down 1.5% and 1.7%, respectively, after Amazon reported quarterly results.
16:14 EDTVVisa up 3.8% after reporting Q1 results
16:13 EDTVVisa sees FY16 adjusted EPS growth of low-end of the mid-teens range
While Visa is not changing its financial outlook for the fiscal full-year, continued moderating cross-border volume growth and subdued domestic activity across our geographies could ultimately affect its results. Sees annual net revenue growth of high single-digit to low double-digit range on a constant dollar basis, with an expectation of about three percentage points of negative foreign currency impact. Sees client incentives as a percent of gross revenues of 17.5%-18.5%. Sees FY16 annual free cash flow of about $7B. The financial outlook for fiscal full-year 2016 does not include any impact from the Visa Europe transaction, including interest expense from the $16.0B issuance of fixed-rate senior notes of about $125M per quarter.
16:09 EDTVVisa reports Q1 constant dollar basis payments volume growth up 11% to $1.3T
Cross-border volume growth, on a constant dollar basis, was 4% for the three months ended December 31, 2015. Total processed transactions, which represent transactions processed by VisaNet, for the three months ended December 31, 2015, were 19.0B, an 8% increase over the prior year.
16:07 EDTVVisa reports Q1 service revenue $1.65B
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16:06 EDTVVisa reports Q1 adjusted EPS 69c, consensus 68c
Reports Q1 revenue $3.6B, consensus $3.62B. Reports Q1 GAAP EPS 80c.
14:29 EDTVNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Microsoft (MSFT), consensus 71c... Amazon (AMZN), consensus $1.56... Amgen (AMGN), consensus $2.29... Electronic Arts (EA), consensus $1.81... Skyworks (SWKS), consensus $1.58... Western Digital (WDC), consensus $1.54... Visa (V), consensus 68c... Flextronics (FLEX), consensus 31c... NetSuite (N), consensus 4c... Fortinet (FTNT), consensus 18c... Synaptics (SYNA), consensus $1.58... Proofpoint (PFPT), consensus (11c).
14:27 EDTVVisa January weekly 70 straddle priced for 5.5% movement into Q1
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14:13 EDTVEarnings Watch: Visa to report after co-brand wins, Visa Europe deal
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14:00 EDTVVisa technical notes before earnings
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January 27, 2016
09:56 EDTVVisa volatility elevated into Q1 and outlook
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January 26, 2016
07:57 EDTVVisa shares 'becoming increasingly attractive,' says Bernstein
After Visa's stock fell 7% so far this year, Bernstein says the stock "is becoming an increasingly attractive, defensive investment in a bearish market." The firm expects the company's EPS to increase 19% through 2020, and says fears about the impact of macro issues on Visa's EPS growth are overdone. Most of the company's EPS growth will come from business model changes and factors that won't be impacted by the macro performance, the firm stated. It keeps a $90 price target and Outperform rating on the shares.
06:11 EDTJPMJPMorgan reaches $1.42B settlement agreement in Lehman case, Bloomberg says
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January 25, 2016
10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
07:03 EDTJPMJPMorgan downgraded to Neutral from Buy at Nomura
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January 22, 2016
09:34 EDTVActive equity options trading on open
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07:06 EDTVVisa MasterCard attractive at current levels, says Oppenheimer
Oppenheimer is upbeat on Visa and MasterCard based on what the firm sees as their "defensible market positions and strong long-term prospects." The firm expects the companies to benefit form solid volume growth this year. It prefers Visa over MasterCard due to the former's recent co-brand wins and accretion from its acquisition of Visa Europe. .
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