News For PAY From The Last 14 Days Check below for free stories on PAY the last two weeks.
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May 25, 2012
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| 16:19 EDT |  | PAY |
| theflyonthewall.com: | On The Fly: Closing Wrap | | Stock futures were quiet during the pre-market trading session, but weakened just prior to the open after the euro hit its lowest level in the past 22 months. Stocks opened lower and drifted in a narrow range for most of the morning. Around 1pm, S&P downgraded ratings on five Spanish banks which only added to the uncertainty over Europe. The selling momentum increased, pushing the averages to session lows. As the news flow slowed to a trickle ahead of the holiday weekend, the averages struggled to keep from undergoing a major sell-off. ECONOMIC EVENTS: In the U.S., the University of Michigan consumer confidence reading for May was 79.3, versus consensus of 77.8...COMPANY NEWS: VeriFone (PAY) was among the day's biggest decliners after reporting stronger than expected Q2 results, but providing disappointing Q3 guidance. VeriFone's rationale that its results would be hurt by the projected strength of the dollar against the euro contributed to Deutsche Bank (DB) reiterating its Sell rating on the stock. The firm noted that the company had previously indicated that its results were not significantly affected by foreign exchange issues. MAJOR MOVERS: Among the notable gainers were Tempur-Pedic (TPX) which jumped 3.9% to $48.95 and Select Comfort (SCSS), which rallied 5.5% to $28.04, after a trade group reported that mattress industry sales grew by double digits in April. Noteworthy losers included Talbots (TLB), which tumbled about 41% to $1.51, after the company said it had ended exclusive acquisition talks with Sycamore Partners, and VimpelCom (VIP), which dropped 16.4% to $7.30, after the company reported a Russian court issued a new injunction against it and it may defer the payment of a previously declared dividend. INDICES: The Dow fell 74.92 to 12,454.83, the S&P lost 2.86 to 1,317.82, and the Nasdaq shed 1.85 to 2,837.53. :theflyonthewall.com |
| | 12:11 EDT | | PAY |
| | 12:00 EDT |  | PAY |
| theflyonthewall.com: | VeriFone falls 16.2% | | VeriFone is down 16.2%, or $7.29, to $37.71 :theflyonthewall.com |
| | 10:40 EDT |  | PAY |
| theflyonthewall.com: | VeriFone tumbles after blaming currency for guidance miss | | VeriFone (PAY) is slumping after the company last night reported stronger than expected Q2 results, but provided weaker than expected Q3 guidance and reiterated its outlook for FY12. VeriFone said that it expected strong demand for its products, but added that its results would be hurt by the projected strength of the dollar against the euro. Following VeriFone's results, Deutsche Bank reiterated its Sell rating on the stock, and seemed to question the reliability of the company's statements. Deutsche Bank said that the company identified foreign exchange fluctuations as the reason for the lackluster guidance, even though it had previously indicated that its results weren't significantly affected by foreign exchange issues. VeriFone showed "a lack of transparency," according to Deutsche Bank. The firm also noted that VeriFone's free cash flow sank to $13M in Q2 from $25M during the previous quarter. On the other hand, Barclays defended VeriFone, as that firm believes that the company's fundamentals are strong, and that foreign exchange fluctuations did prevent the company from raising its guidance. Without the impact of expected currency fluctuations, VeriFone would have increased its FY12 revenue guidance by $10M or more, asserts Barclays, which recommends buying the stock on weakness. In mid-morning trading, VeriFone sank $5.02, or 11.16%, to $39.98. :theflyonthewall.com |
| | 10:00 EDT | | PAY |
| theflyonthewall.com: | VeriFone falls 10.8% | | VeriFone is down 10.8%, or $4.87, to $40.13 :theflyonthewall.com |
| | 09:43 EDT | | PAY |
| | 09:30 EDT |  | PAY |
| theflyonthewall.com: | VeriFone weakness is a buying opportunity, says Barclays | | Barclays said VeriFone's top line growth and earnings is strong and recommends buying shares on weakness. Shares are Overweight rated. :theflyonthewall.com |
| | 09:00 EDT | | PAY |
| | 07:58 EDT | | PAY |
| | 05:59 EDT | | PAY |
| theflyonthewall.com: | VeriFone weakness a buying opportunity, says Citigroup | | Citigroup believes VeriFone reported strong Q2 results and that the company is not using the strengthening U.S. dollar as an excuse. Citi's said its analysis indicates the company's currency headwinds are real. The firm lowered its price target for VeriFone shares to $55 from $57 but said it’s a buyer of the name on the post-earnings sell-off. :theflyonthewall.com |
| | 05:54 EDT | | PAY |
| theflyonthewall.com: | VeriFone shares should be sold, says Deutsche Bank | | Deutsche Bank recommends selling shares of VeriFone following the company's Q2 results and reiterates a $40 price target on the stock. The firm cites VeriFone's poor free cash flow and lack of financial transparency for its Sell rating :theflyonthewall.com |
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May 24, 2012
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| 16:09 EDT |  | PAY |
| | 16:07 EDT | | PAY |
| theflyonthewall.com: | VeriFone sees FY12 EPS $2.60-$2.66, consensus $2.66 | | Sees revenue $1.9B-$1.925B, consensus $1.92B. :theflyonthewall.com |
| | 16:05 EDT | | PAY |
| | 16:03 EDT | | PAY |
| theflyonthewall.com: | VeriFone reports Q2 EPS 64c, consensus 61c | | Reports revenue $479M, consensus $471.82M. :theflyonthewall.com |
| | 14:49 EDT | | PAY |
| | 08:05 EDT | | PAY |
| theflyonthewall.com: | VeriFone and eBay's PayPal sign nationwide agreement | | VeriFone (PAY), and eBay (EBAY) company PayPal announced a comprehensive licensing, marketing and implementation agreement that advances PayPal acceptance at large retailers nationwide. Consumers will soon be able to pay for purchases at participating large retailers by using a PayPal Access card and PIN or entering a phone number and PIN on popular VeriFone systems. The agreement provides PayPal with unprecedented access to over one million high volume points of sale. :theflyonthewall.com |
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May 17, 2012
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| 12:07 EDT |  | PAY |
| theflyonthewall.com: | Rogers Communications, CIBC to launch NFC phone in Canada, NFC World says | | Canadian bank CIBC and Canadian telecom company Rogers (RCI) will introduce a joint near-field communication, or NFC service in Canada later this year, according to NFC World. The service will be able to be accessed from a Rogers phone, the publication added. Reference Link :theflyonthewall.com |
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May 16, 2012
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| 13:07 EDT | | PAY |
| | 06:01 EDT | | PAY |
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