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Stock Market & Financial Investment News

News Breaks
April 25, 2014
11:37 EDTV, MAVisa falls after revenue miss, analysts remain upbeat
Shares of Visa (V) are sinking after the company reported higher than expected second quarter profit but slightly lower than expected revenue. A number of analysts, however, remained optimistic about the stock. WHAT'S NEW: Visa reported second quarter earnings per share, excluding certain items, of $2.20, compared with analysts' consensus estimate of $2.18. The credit card network's revenue came in at $3.16B, versus the consensus estimate of $3.19B. "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. Visa guided to fiscal year EPS growth in a mid-to-high teen percentage and said it expects low double-digit constant revenue growth in the 10-11% range, with an expectation of two percentage points of negative foreign currency impact. Consensus for Visa's EPS and revenue for FY14 were $8.88 and $12.93B, respectively, prior to the update. ANALYST REACTION: In a note to investors earlier today, Stifel analyst Christopher Brendler wrote that the company's revenue miss was mostly caused by macro economic and foreign exchange issues. Visa's cost control efforts more than offset the impact of these issues, the analyst added. Moreover, the company's underlying trends are strong and it should outperform beginning in fiscal 2015, Brendler stated. He kept a $289 price target and Buy rating on the shares. Similarly, Pacific Crest analyst Josh Beck wrote that Visa's results were hurt by "a series of idiosyncratic events." Visa's growth should accelerate in the second half of 2014 and it can benefit from the proliferation of digital payments, the analyst stated. He kept a $241 price target and Outperform rating on the shares. PRICE ACTION: In late morning trading, Visa fell 4% to $200. Visa's top competitor, MasterCard (MA), fell 3.6% to $72. MasterCard is scheduled to report its results on May 1.
News For V;MA From The Last 14 Days
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October 22, 2014
16:32 EDTVVisa increases dividend 20% to 48c from 40c
Visa announced that its board of directors had declared a quarterly dividend in the aggregate amount of 48c per share of class A common stock, determined in the case of class B and class C common stock on an as-converted basis, payable on December 2 to all holders of record of the company's class A, class B and class C common stock as of November 14. The quarterly dividend increase raises the annual dividend rate from $1.60 per share to $1.92 per share.
October 16, 2014
16:23 EDTVJPMorgan announces Apple Pay to be available to Chase customers, merchants
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15:26 EDTVApple Pay available to millions of Visa cardholders
Visa (V) announced that starting October 20 eligible Visa cardholders in the U.S. will be able to use Apple (AAPL) Pay, Apple’s new payment service, to begin to make purchases at select U.S. merchants with their new iPhone. Visa is actively working with its client base of thousands of U.S. financial institutions to enable them to offer the new Apple Pay service to their account holders.
14:09 EDTMA, VApple confirms October 20 start date for Apple Pay
Apple (AAPL) announced that customers can start making payments on Monday, October 20, when Apple Pay becomes available in the U.S. Users of the iPad Air 2 and iPad mini 3 will be able to use Touch ID on their devices for Apple Pay within apps. The new service will be enabled by a free software update to iOS 8. Apple Pay supports credit and debit cards from the three major payment networks: American Express (AXP), MasterCard (MA) and Visa (V). In addition to American Express, Bank of America (BAC), Capital One Bank (COF), Chase (JPM), Citi (C), Wells Fargo (WFC) and others, who announced support in September, more than 500 new banks from across the country have signed on to Apple Pay, the company said.
October 14, 2014
08:50 EDTVVisa, 3PEA International enter into prepaid card agreement
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October 13, 2014
07:19 EDTMA, VAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link

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