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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 30, 2014
07:29 EDTVeBay to integrate QIWI Wallet in Russia
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06:47 EDTV, MAVisa projects mobile payments will boost growth, Reuters says
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06:06 EDTVVisa upgraded to Outperform from Market Perform at FBR Capital
FBR Capital upgraded Visa to Outperform with a $260 price target citing continued business model strength follow the company's Q4 results.
October 29, 2014
18:59 EDTMA, VOn The Fly: After Hours Movers
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16:11 EDTVVisa up over 3% following Q4 results, guidance
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16:11 EDTVVisa sees FY15 annual diluted class A common stock EPS growth in mid-teens
FY15 EPS consensus $10.36.
16:10 EDTVVisa sees FY15 annual net revenue growth low double digits, consensus $13.96B
Guidance in constant dollars. Sees FY15: annual operating margin in mid-60's, tax rate in low 30's, annual free cash flow greater than $6B.
16:07 EDTVVisa says Q4 payments volume growth was 12% over the prior year
Payments volume growth, on a constant dollar basis, for the three months ended June 30, on which fiscal fourth quarter service revenue is recognized, was 12% over the prior year at $1.2T. Payments volume growth, on a constant dollar basis, for the three months ended September 30, was 11% over the prior year at $1.2T. Cross-border volume growth, on a constant dollar basis, was 10% for the three months ended September 30, 2014. Total processed transactions, which represent transactions processed by VisaNet, for the three months ended September 30, 2014, were 16.9B, a 9% increase over the prior year.
16:06 EDTVVisa authorizes new $5B share repurchase program
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16:05 EDTVVisa reports Q4 adjusted EPS $2.18, consensus $2.10
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15:53 EDTVNotable companies reporting after market close
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15:41 EDTMANotable companies reporting before tomorrow's open
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13:04 EDTMAEarnings Preview: MasterCard to report after mixed competitor results
MasterCard (MA) is scheduled to report third quarter earnings before the market opens on October 30, with a conference call scheduled for 9:00 AM ET. MasterCard is a credit card network. EXPECTATIONS: Analysts are looking for earnings per share of 78c on revenue of $2.45B, according to First Call. The consensus range for EPS is 76c-81c on revenue of $2.41B-$2.49B. LAST QUARTER: MasterCard reported higher than expected second quarter profit and revenue, and said that its processed transactions jumped 12% in Q2. However, on September 17 the company estimated that its fiscal 2014 revenue growth would be at the lower end of its 2013-2015 compound annual growth rate target of 11%-14%. COMPETITORS’ RESULTS: American Express (AXP) reported higher than expected profits but roughly in-line revenue on October 15, while Capital One’s (COF) profits came in below expectations and its revenue was slightly higher than expected. A number of large banks, including JPMorgan (JPM) and Citigroup (C), said that they had seen the credit trends of customers improve last quarter. STREET RESEARCH: Barron's recently sounded a positive note on MasterCard, saying that the stock "looks reasonable" and could gain 15% in 2015, as its earnings look set to increase 15% over the next year. Also upbeat was Piper Jaffray, which predicted on October 13 that MasterCard's Q3 results would "show solid momentum," as a result of stronger U.S. consumer spending and solid cross-border volume growth. The firm did, however, slightly lower its 2015 estimates for the company, citing foreign exchange and macro headwinds.The firm remained upbeat on the company's longer term outlook, as it believes that the proliferation of mobile payments and mobile devices is accelerating the shift to electronic transactions from cash and checks. Piper trimmed its price target on the name to $88 from $91 but kept an Overweight rating on the shares. PRICE ACTION: MasterCard is up 6% in the last six months, but it's up just 4% over the last year.
12:58 EDTVEarnings Preview: Analysts cautious on Visa into Q4 results
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October 28, 2014
15:21 EDTMAMasterCard October weekly volatility elevated into Q3 and outlook
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07:51 EDTVVisa weekly volatility increases into Q4 and outlook
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October 27, 2014
10:32 EDTMA, VVeriFone rises after Barron's says Apple Pay positive for company
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October 26, 2014
13:28 EDTV, MAApple Pay could make winners of VeriFone, others, Barron's says
Apple Pay (AAPL) could provide long-term investors with confidence in Visa (V) and MasterCard (MA) as well as make winners of VeriFone (PAY), NXP Semiconductors (NXPI), and Synaptics (SYNA), Barron's contends in a feature article. Reference Link
13:23 EDTMA, VMasterCard looks reasonable, Barron's says
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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.
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