New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
January 23, 2015
13:59 EDTMAMasterCard confirms allowance of Cuban transactions with U.S.issued cards
MasterCard confirmed a report saying the company will allow credit card transactions in Cuba. The company will work with its U.S. issuers to support their Cuba-related activities and decisions. Before traveling to Cuba, U.S. cardholders should contact their bank to ensure the card will be supported on the island. Reference Link
13:54 EDTMAMasterCard to allow transactions in Cuba with U.S. cards, Reuters reports
Subscribe for More Information
January 22, 2015
05:36 EDTMAMasterCard announces opportunity to apply for next edition of Start Path Europe
Subscribe for More Information
January 21, 2015
13:38 EDTVEarnings Preview: eBay shares rise over 5.5% since last earnings report
Subscribe for More Information
January 20, 2015
09:44 EDTMA, VSupreme Court denies appeal of 'swipe fee' ruling, Reuters reports
Subscribe for More Information
January 16, 2015
09:44 EDTMAUSA Technologies enters pact with MasterCard
Subscribe for More Information
January 14, 2015
07:28 EDTMAMasterCard announces global partnership with Masabi
Subscribe for More Information
January 12, 2015
09:34 EDTMAActive equity options trading
Subscribe for More Information
06:35 EDTV, MAObama to press for law requiring disclosure of hacking, NY Times says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use