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Stock Market & Financial Investment News

News Breaks
February 3, 2014
11:39 EDTTGT, V, MA, AXPTarget could be fined over $1 billion for card breach, analyst says
Target (TGT) may be fined $400 million to $1.1 billion for its credit card data breach late last year, research firm Jefferies wrote in a note to investors last week. WHAT'S NEW: Target may be fined up to $1.1 billion for its violation of Payment Card Industry, or PCI, standards as a result of the data breach, Jefferies analyst Daniel Binder wrote. PCI was founded by Visa (V), MasterCard (MA), American Express (AXP) and other major credit card networks to adopt security controls for handling credit and debit card data. In addition to leading to a fine, the incident could hurt Target's sales, and lower the profits that it receives from holders of its credit card, Binder stated. The data breach could also hamper Target's ability to meet its $4B share buyback target for fiscal 2015, added Binder. He now expects the company to buy back only $1B of its shares in fiscal 2015, and he reduced his fiscal 2015 earnings per share estimate for the company to $4.29 from $4.41. The analyst trimmed his price target on the shares to $56 from $59 and kept a Hold rating on the stock. Contrary to a previous version of this story, PCI does not levy fines. Rather individual payment brands may impose financial consequences on businesses that are not compliant with PCI standards. PRICE ACTION: In late morning trading, Target shares are down 2%, or 98c, to $55.66.
News For TGT;V;MA;AXP From The Last 14 Days
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July 22, 2014
14:47 EDTVVisa July weekly volatility elevated into Q3 and growth outlook
Visa July weekly call option implied volatility is at 39, August is at 20, September is at 17, December is at 16; compared to its 26-week average of 22 according to Track Data, suggesting larger near term price movement into the expected release of Q3 results on July 24.
July 21, 2014
13:36 EDTV, MASmartMetric files patent infringement suit against Visa, MasterCard
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July 18, 2014
18:12 EDTV, TGT, MAVisa, MasterCard denied bid to dismiss opt-out swipe fee suits, Bloomberg says
Merchants that opted out of the swipe-fee settlement brought their own suits, which Visa (V) and MasterCard (MA) were not approved to dismiss, Bloomberg reports. Merchants such as Target (TGT) and Macy’s (M) pursued their cases after dropping out of an earlier settlement over swipe fees, Bloomberg added. Reference Link
14:25 EDTV, MAVisa, MasterCard denied bid to dismiss opt-out swipe fee suits, Bloomberg says
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July 17, 2014
07:37 EDTMA, VVisa MasterCard underperformance creates buying opportunity, says Oppenheimer
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July 16, 2014
14:36 EDTVVisa launches Visa Checkout payment service
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July 15, 2014
12:01 EDTAXPAmerican Express reports June net charge off rate 1.5% vs. 1.6% last month
Reports June 30 days past due loans 0.9% vs. 1.0% last month.
07:24 EDTAXPMicrosoft to hold a conference
MSFT Worldwide Partner Conference to be held in Washington, D.C. on July 13-17.
July 13, 2014
15:54 EDTTGTGameStop, TJX, Staples, three other retailers look cheap, Barron's says
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July 10, 2014
10:05 EDTAXPOn The Fly: Analyst Initiation Summary
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08:10 EDTMA, AXPMorgan Stanley's Vintage Values 2015 list selected
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July 9, 2014
17:48 EDTAXPAmerican Express initiated with an Underperform at Macquarie
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10:02 EDTAXPOn The Fly: Analyst Upgrade Summary
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07:28 EDTAXPAmerican Express upgraded at Guggenheim
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06:38 EDTAXPAmerican Express upgraded to Buy from Neutral at Guggenheim
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