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Stock Market & Financial Investment News

News Breaks
March 15, 2013
08:18 EDTV, PLPMVisa announces strategic processing relationship with Planet Payment
Visa (V) recently announced the opening of the Myanmar market to ATM and POS acceptance through their licensing agreements with Co-operative Bank, Kanbawza Bank, and Myanmar Overseas Bank. This represents significant progress for Myanmar's electronic payments infrastructure as it provides the country with a platform to participate in the global financial system. By joining the Visa network, the banks agree to adopt Visa's global security standards for electronic payment. Phillip Kumnick, Visa's Head of Global Acquirer Processing, said "For the core technology and operating systems we are working with Planet Payment." As a result of the recent success in Myanmar, Visa and Planet Payment (PLPM) are working on opportunities to target the deployment of the managed service to additional developing markets in support of traditional ATM and POS acceptance as well as developing support for mobile point of sale.
News For V;PLPM From The Last 14 Days
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August 28, 2014
17:43 EDTVVisa downgrade could be buying opportunity, Barron's says
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16:21 EDTVOn The Fly: Closing Wrap
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12:57 EDTVAmazon.com hires Visa executive, Re/code reports
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12:41 EDTVPayPal competitor Visa Checkout adds a dozen new partners, TechCrunch says
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12:34 EDTVOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as concern over the Ukraine crisis overshadowed an upward revision to the government's estimate of U.S. economic growth in the second quarter. The major averages began the session in negative territory and picked up downside momentum in early trading, but soon after began to drift off their lows and recapture some of their losses. Volume remains light, as is expected ahead of the upcoming long weekend. ECONOMIC EVENTS: In the U.S., Q2 GDP growth was unexpectedly boosted to 4.2% from the first estimate of 4.0%. Personal consumption rose 2.5% during the second quarter, versus estimates for a 2.4% increase. Initial jobless claims ticked down slightly to 298K in the fourth week of August. Pending home sales index increased 3.3% in July, which was better than the 0.5% month-over-month increase that was expected. In Europe, Ukraine president Poroshenko reportedly accused Russia of a "de facto" invasion and canceled a trip to call an urgent meeting of his security and defense council. COMPANY NEWS: Shares of Visa (V) declined 1% after Raymond James lowered its rating on the credit card giant's stock to Market Perform from Outperform. The Dow component faces a number of headwinds, including tougher negotiating tactics by larger international banks looking to win better deals, lower cross-border volume, and loss of processing revenue in Russia, wrote Raymond James analyst Wayne Johnson. MAJOR MOVERS: Among the notable gainers was Repros Therapeutics (RPRX), which jumped 20% after the first of two identical pivotal studies comparing Androxal to an FDA approved topical gel and placebo achieved superiority in both co-primary endpoints and Piper Jaffray hiked its price target on the stock to $33 from $26. Also higher was Signet Jewelers (SIG), which rose nearly 7% after reporting Q2 results that analysts at Sterne Agee called "impressive." Among the noteworthy losers were a number of retailers who dropped after reporting results from their most recent fiscal quarters. Shares of home goods retailer William-Sonoma (WSM) dropped 11%, jeans maker Guess (GES) fell 9%, and apparel retailer Abercrombie & Fitch (ANF) slipped more than 4%. INDEXES: Near midday, the Dow was down 33.92, or 0.2%, to 17,088.09, the Nasdaq was down 4.52, or 0.1%, to 4,565.11, and the S&P 500 was down 2.04, or 0.1%, to 1,998.08.
10:20 EDTVVisa slips after Raymond James sees more challenges than catalysts
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09:57 EDTVOn The Fly: Analyst Downgrade Summary
Brown Forman (BFA, BFB, BF.A, BF.B) downgraded to Hold from Buy at Deutsche Bank... GT Advanced (GTAT) downgraded to Underperform from Market Perform at Raymond James... Genuine Parts (GPC) downgraded to Neutral from Buy at SunTrust... InterMune (ITMN) downgraded to Neutral from Buy at UBS... Tesco (TSCDY) downgraded to Hold from Buy at Deutsche Bank... Visa (V) downgraded to Market Perform from Outperform at Raymond James... Williams-Sonoma (WSM) downgraded to Equal Weight from Overweight at Morgan Stanley... Bob Evans (BOBE) downgraded to Underweight from Equal Weight at Stephens... lululemon (LULU) downgraded to Neutral from Buy at DA Davidson... J.C. Penney (JCP) downgraded to Neutral from Buy at BTIG.
06:02 EDTVVisa downgraded to Market Perform from Outperform at Raymond James
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August 26, 2014
08:30 EDTVConcerns about payment disintermediation overdone, says Pacific Crest
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August 25, 2014
07:50 EDTVVisa headwinds likely to subside, says Pacific Crest
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