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Stock Market & Financial Investment News

News Breaks
July 24, 2014
14:07 EDTVEarnings Preview: Visa to report results amid credit metric improvements
Visa (V) is expected to report third quarter earnings after the market close on Thursday, July 24 with a conference call scheduled for 5:00 pm ET. Visa is a credit card network. EXPECTATIONS: Analysts are looking for earnings per share of $2.10 on revenue of $3.15B. The consensus range is $1.99-$2.17 for EPS, and $3.05B-$3.22B for revenue, according to First Call. LAST QUARTER: Visa reported stronger than expected second quarter results, as its payments volume jumped 12% year-over-year during the quarter. The company predicted that its earnings per share would rise by mid to high teen percentage levels in fiscal 2014. "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. On May 19, Scharf said that rising interest rates are good for the credit card business. BANKS' CREDIT METRICS: A number of banks reported that their credit metrics had improved last quarter, potentially boding well for Visa's results. For example, JPMorgan (JPM) said that its total consumer provision for loan losses fell $345M last quarter, while consumer net chargeoffs dropped to $1.2B from $1.5B in the same period a year earlier. Meanwhile, Wells Fargo (WFC) reported that it saw "broad based growth" in its credit card business. STREET RESEARCH: In a note to investors on July 17, Oppenheimer analyst Glen Greene wrote that although Visa and MasterCard's stocks had "temporarily paused," he remained upbeat on their long-term and intermediate term growth potential. Over the longer term ,the companies also enjoy competitive barriers to entry and "highly attractive business models," Greene believes. He preferred Visa but kept Outperform rating on both names. PRICE ACTION: Visa's stock is flat on the year, but up more than 6% in the last three months.
News For V From The Last 14 Days
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July 6, 2015
09:35 EDTVActive equity options trading on open
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June 30, 2015
19:32 EDTVMasterCard stops processing Backspace.com ad purchases, WSJ says
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