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Stock Market & Financial Investment News

News Breaks
January 14, 2014
07:55 EDTHPY, PAY, CATMJPMorgan upgrades VeriFone, cuts Heartland, Cardtronics
JPMorgan recommends taking profits in the merchant acquiring group and downgraded shares of Heartland Payment (HPY) and Cardtronics (CATM) to Neutral from Overweight. The firm upgraded shares of VeriFone (PAY) citing low expectations and the potential for positive earnings revisions with new management in place. JPMorgan raised its price target for VeriFone shares to $32 from $27.
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July 23, 2014
07:25 EDTCATMCardtronics upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Cardtronics to Overweight citing accretion from the Welch ATM acquisition. The firm raised its price target for shares to $45 from $39.
July 22, 2014
06:42 EDTCATMCardtronics to host conference call
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July 21, 2014
17:00 EDTCATMCardtronics to acquire Welch ATM for $160M
Cardtronics announced a definitive agreement under which it will acquire Welch ATM for $160M. Upon completion of the transaction, the combined company will support a global portfolio of 109,600 ATMs, including 92,500 conveniently located retail ATMs in the United States. The combined business will be positioned to accelerate revenue growth, achieve cost synergies, create additional value for its retailer and financial institution customers, and drive shareholder value. A combined Cardtronics and Welch ATM organization will also bring together the leading providers of ATM services to Walgreens. The collective Walgreens portfolio totals 5,100 ATMs and a presence in a significant portion of the retailer's nationwide footprint. Additionally, Welch ATM will add 3,100 company-owned, Rite Aid-located ATMs to Cardtronics' roster of premier retailer locations. The companies anticipate closing later in Q3. Cardtronics will update its FY14 guidance to include the acquisition of Welch ATM following the completion of the transaction.
July 16, 2014
17:29 EDTHPYHeartland Payment initiated with a Market Perform at BMO Capital
Target $46.
10:39 EDTHPYHeartland Payment signs new deal with SP+
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July 10, 2014
06:00 EDTPAYeBay repatriated cash likely to be used for M&A, says Piper Jaffray
Piper Jaffray believes a large part of the $9B in cash eBay expects to repatriate to the U.S. will be used for acquisitions in the payments space. The cash, equating to $6B net of taxes, could help eBay take advantage of the shift to mobile payments, the firm says. Piper lists Square, VeriFone (PAY), iZettle and Corduro as companies in the payment space that are within acquisition range for eBay. The firm has an Overweight rating on eBay with a $63 price target.

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