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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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February 27, 2015
15:29 EDTMAMasterCard recommends rejection of 'mini-tender' offer from TRC Capital
MasterCard announced that it has been notified of an unsolicited "mini-tender" offer dated February 25, 2015, made by TRC Capital, a private Canadian investment company, to purchase up to 1.5M shares of MasterCard's common stock, less than one fifth of 1% of the outstanding shares of common stock. TRC Capital's unsolicited "mini-tender" offer price of $88.50 per share is approximately 4.5% below the $92.67 per share closing price of MasterCard's common stock on February 25, the last trading day prior to the commencement of the offer. MasterCard is not affiliated in any way with TRC Capital, the offer, or the offer documentation. MasterCard recommends against shareholders tendering shares in response to this unsolicited offer.
12:01 EDTVVisa to acquire TrialPay, terms not disclosed
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February 26, 2015
06:46 EDTV, MADeutsche sees American Express as undervalued, upgrades to Buy
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February 24, 2015
07:25 EDTMARW Baird to hold a conference
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06:39 EDTMA, VVisa Europe announces 'tokenisation service'
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February 20, 2015
06:49 EDTVVisa shifting to local payment systems in Russia, WSJ says
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February 19, 2015
12:45 EDTMA, VOn The Fly: Midday Wrap
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12:09 EDTMA, VAmerican Express confirms intent to appeal federal court ruling
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11:00 EDTMA, VAmerican Express plans to appeal antitrust ruling, CNBC reports
American Express stated to CNBC that the company is "disappointed" with a court decision in an antitrust matter and plans to file an appeal. "The court's ruling will not provide any benefit to consumers and will, in fact, harm competition by further entrenching the two dominant networks. We continue to believe that the Department of Justice's arguments are flawed and believe we should prevail on appeal," American Express stated. Reference Link
08:04 EDTVVisa to extend Visa Checkout service, totaling 16 markets by late 2015
Visa announced that Visa Checkout will become available in a total of 16 markets in 2015. Currently, consumers from 10 countries can sign up for Visa Checkout. By the end of 2015 Visa Checkout will be available in the following 16 markets: U.S., Australia, and Canada, Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa and United Arab Emirates. Consumers in newly-enabled markets will first be able to use Visa Checkout to buy from merchants in the U.S., Australia and Canada that accept Visa Checkout and ship internationally. As the rollout continues, select markets will begin to incorporate issuer, merchant, acquirer, and channel partnerships to support local commerce with Visa Checkout. Visa will also launch localized Visa Checkout websites for many of these markets.
February 17, 2015
17:29 EDTVBerkshire Hathaway gives quarterly update on stakes, exits Exxon Mobil
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07:22 EDTVMitsubishi UFJ to hold a tour
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February 13, 2015
16:21 EDTMAJetBlue said to drop American Express in favor of MasterCard, Bloomberg reports
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06:01 EDTVVisa to remove 16-digit account number in online, mobile payments
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