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May 19, 2014
08:18 EDTPAY, NCRVeriFone downgraded to Neutral from Positive at Susquehanna
Susquehanna downgraded VerFone (PAY) to Neutral with a $34 price target citing valuation. The firm recommends investors in the space consider buying NCR Corp. (NCR) as an alternative.
News For PAY;NCR From The Last 14 Days
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October 1, 2014
09:01 EDTNCRNCR Corp. enters into funding agreement with respect to Fox River, future sites
On September 30, NCR entered into a Funding Agreement with Appvion, Windward Prospects, Ltd., B.A.T. Industries, p.l.c., and BTI 2014 LLC with respect to the Fox River and certain future sites. Under the Funding Agreement, NCR received an aggregate of $93.08M from BAT, Windward and Appvion on September 30, 2014 towards Fox River Costs incurred by NCR from April 2012 through October 1, 2014. These funds will be used towards satisfying a receivable to NCR from Appvion under the 1998 Confidential Settlement Agreement between NCR, B.A.T. and Appvion. NCR and Appvion have agreed to instruct the American Arbitration Association not to release the pending decision in the arbitration between NCR and Appvion relating to disputes about Appvion’s liability under the 1998 Confidential Settlement Agreement during the term of the Funding Agreement, except as specifically provided in the Funding Agreement. Under the Funding Agreement, NCR will also receive fifty percent of Fox River Costs paid or incurred after October 1, 2014. The parties to the Funding Agreement have agreed, among other things, to vigorously pursue reasonable and viable claims they may have against third parties related to the Fox River and/or future sites and to use recoveries as described in the Funding Agreement. Depending upon, among other things, the amounts of such recoveries, NCR may also receive additional payments related to Fox River Costs incurred from April 2012 to the end of site remediation at the Fox River under the Funding Agreement. In addition, the parties have agreed that any surplus of recoveries from third parties following the end of site remediation at the Fox River will be used to fund sixty percent of NCR’s costs at certain future sites, if any.
08:05 EDTPAYVeriFone says MasterCard acquirer provides mobile POS cababilities in Peru
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06:47 EDTPAYCompanies reacting to Apple Pay, NY Times says
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September 30, 2014
08:02 EDTNCRNCR Corp. selected by ratiopharm arena for POS solution
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September 26, 2014
12:01 EDTNCRCourt overturns ruling against NCR regarding Fox River cleanup costs
The Seventh Circuit Court of Appeals overturned summary judgment rulings from 2009 and 2011 in the Whiting contribution lawsuit that had held NCR 100% liable for certain Fox River cleanup costs. The court also vacated the declaratory judgment finding NCR jointly and severally liable in the U.S. Government's enforcement action and remanded the case for further consideration of NCR’s divisibility defense. In addition, the court vacated the permanent injunction that had been entered against NCR ordering it to remediate the Fox River. Finally, the Seventh Circuit also upheld the ruling in NCR’s favor finding that NCR does not have so-called “arranger liability” at the Fox River. NCR is pleased with the Seventh Circuit’s rulings. NCR took a leadership position in cleaning up the Fox River, and believes that it has already done more than its fair share of the work. NCR has consistently advocated that a reasonable remediation project shared in by all responsible parties should be the goal of the regulatory authorities. It is now time for others to participate in the cleanup and to reimburse NCR for costs paid in excess of its divisible share. NCR intends to vigorously pursue these goals. NCR is still analyzing the impact of these rulings. NCR expects a favorable impact to NCR’s Fox River reserve, which was $95 million as of June 30, 2014, and is also examining the impact on free cash flow.
10:01 EDTPAYOn The Fly: Analyst Initiation Summary
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September 25, 2014
19:06 EDTPAYVeriFone initiated with a Hold at Stifel
16:20 EDTPAYVeriFone initiated with a Hold at Stifel
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08:04 EDTPAYVeriFone UX Solutions certified for Interac Flash 1.5 requirements
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September 22, 2014
07:14 EDTPAYGSM Association to hold a conference
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