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Stock Market & Financial Investment News

News For V;MA;AXP;ACN;XRX;PAY;DFS;VNTV;IFX;WMT;BAC;WFC;TI From The Last 14 Days
Check below for free stories on V;MA;AXP;ACN;XRX;PAY;DFS;VNTV;IFX;WMT;BAC;WFC;TI the last two weeks.
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July 25, 2014
12:51 EDTVOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday and on track to end a week marked by a torrent of earnings reports on a definite down note. Some high-profile disappointments weighed on the major averages, as Visa (V) and Amazon.com (AMZN) both fell significantly after their quarterly reports last night, dragging on the Dow and Nasdaq, respectively. The domestic economic calendarís sole release of consequence, the durable goods orders report, came out before the open and was better than expected, but that did little to brighten the market's negative tone. ECONOMIC EVENTS: In the U.S., durable goods orders rebounded 0.7% in June after a 1.0% decline in the prior month, beating expectations for June increase of 0.5%. COMPANY NEWS: Shares of Amazon.com fell 10% after the e-commerce giant reported in-line second quarter revenue but a much higher than expected loss. A number of analysts responded to the news by downgrading the stock, while several others cut their price targets on the shares... Visa reported Q3 earnings per share and revenue that topped consensus forecasts, but its fiscal year EPS growth outlook was trimmed its fiscal year revenue growth view to be in the 9-10% range from its prior forecast for low double-digit constant revenue growth in the 10-11% range. Shares of the Dow Jones Industrial Average component slid 4% following the report and guidance. MAJOR MOVERS: Among the notable gainers following their earnings reports were Datalink (DTLK), which jumped 17%, Mellanox (MLNX), which rose 13%, and VeriSign (VRSN), which gained 11%. Among the noteworthy losers was WellCare (WCG), which plunged 20% after the managed care company pre-announced significantly weaker than expected results. Also lower following their earnings reports were Swift Transport (SWFT), which fell nearly 15%, and Pandora (P), which dropped about 13%. INDEXES: Near midday, the Dow was down 131.61, or 0.77%, to 16,952.19, the Nasdaq was down 24.45, or 0.55%, to 4,447.66, and the S&P 500 was down 9.04, or 0.45%, to 1,978.94.
11:00 EDTXRXXerox sees FY14 restructuring charges similar to last year
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10:30 EDTXRXXerox expects to return $1B to shareholders this year
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10:25 EDTMAMasterCard August weekly volatility elevated into Q2 and outlook
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09:59 EDTXRXXerox continues to expect to end year with $7.8B of debt
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09:25 EDTXRX, VOn The Fly: Pre-market Movers
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07:04 EDTXRXXerox sees Q3 adjusted EPS 25c-27c, consensus 26c
07:04 EDTXRXXerox sees FY14 adjusted EPS $1.09-$1.13, consensus $1.10
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07:03 EDTXRXXerox reports Q2 adjusted EPS 27c, consensus 26c
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July 24, 2014
18:45 EDTVOn The Fly: After Hours Movers
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16:13 EDTVVisa says Q3 payments volume growth was 12% over the prior year
Payments volume growth, on a constant dollar basis, for the three months ended March 31, on which fiscal third quarter service revenue is recognized, was 12% over the prior year at $1.1T. Payments volume growth, on a constant dollar basis, for the three months ended June 30, was 11% over the prior year at $1.2T. Cross-border volume growth, on a constant dollar basis, was 7% for the three months ended June 30. Total processed transactions, which represent transactions processed by VisaNet, for the three months ended June 30, were 16.7B an 11% increase over the prior year.
16:11 EDTVVisa sees FY14 EPS growth 17.5%-18.5%, consensus $8.99
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16:09 EDTVVisa reports Q3 EPS $2.17, consensus $2.10
Reports Q3 revenue $3.2B, consensus $3.15B.
15:29 EDTXRXNotable companies reporting before tomorrow's open
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15:29 EDTVNotable companies reporting after market close
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14:31 EDTVVisa July weekly 220 straddle priced for 2.7% move into Q3
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14:07 EDTVEarnings Preview: Visa to report results amid credit metric improvements
Visa (V) is expected to report third quarter earnings after the market close on Thursday, July 24 with a conference call scheduled for 5:00 pm ET. Visa is a credit card network. EXPECTATIONS: Analysts are looking for earnings per share of $2.10 on revenue of $3.15B. The consensus range is $1.99-$2.17 for EPS, and $3.05B-$3.22B for revenue, according to First Call. LAST QUARTER: Visa reported stronger than expected second quarter results, as its payments volume jumped 12% year-over-year during the quarter. The company predicted that its earnings per share would rise by mid to high teen percentage levels in fiscal 2014. "Softer net revenue growth was impacted by a strengthening U.S. dollar and difficult year-over-year comparisons due to non-recurring items," said Visa CEO Charlie Scharf. These negative factors will have a slightly greater impact in Visa's third quarter before easing in the fourth quarter, the CEO added. On May 19, Scharf said that rising interest rates are good for the credit card business. BANKS' CREDIT METRICS: A number of banks reported that their credit metrics had improved last quarter, potentially boding well for Visa's results. For example, JPMorgan (JPM) said that its total consumer provision for loan losses fell $345M last quarter, while consumer net chargeoffs dropped to $1.2B from $1.5B in the same period a year earlier. Meanwhile, Wells Fargo (WFC) reported that it saw "broad based growth" in its credit card business. STREET RESEARCH: In a note to investors on July 17, Oppenheimer analyst Glen Greene wrote that although Visa and MasterCard's stocks had "temporarily paused," he remained upbeat on their long-term and intermediate term growth potential. Over the longer term ,the companies also enjoy competitive barriers to entry and "highly attractive business models," Greene believes. He preferred Visa but kept Outperform rating on both names. PRICE ACTION: Visa's stock is flat on the year, but up more than 6% in the last three months.
11:32 EDTWMTWal-Mart U.S. CEO change not likely due to current trends, says RW Baird
RW Baird believes the departure of Bill Simon from his post as CEO of Wal-Mart U.S. has more to do with the executive's long-term career planning than with current trends, which the firm believes remain sluggish. Baird keeps its Outperform rating and $84 price target on Wal-Mart.
11:12 EDTBACBank of America to pay $16.6M to resolve U.S. sanctions violations, Reuters says
The Treasury Department said Bank of America has agreed to say $16.6M to resolve allegations it processed transactions for drug traffickers subject to U.S. sanctions, reports Reuters. The bank processed around $91,000 in transactions for six designated narcotics traffickers between 2005 and 2009, and failed to file timely reports on accounts owned by four others. Reference Link
08:38 EDTWMTWal-Mart volatility at historic low into Foran succeeding Simon as U.S. CEO
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