New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
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.
October 16, 2014
16:23 EDTVJPMorgan announces Apple Pay to be available to Chase customers, merchants
Subscribe for More Information
15:26 EDTVApple Pay available to millions of Visa cardholders
Visa (V) announced that starting October 20 eligible Visa cardholders in the U.S. will be able to use Apple (AAPL) Pay, Apple’s new payment service, to begin to make purchases at select U.S. merchants with their new iPhone. Visa is actively working with its client base of thousands of U.S. financial institutions to enable them to offer the new Apple Pay service to their account holders.
14:09 EDTVApple confirms October 20 start date for Apple Pay
Apple (AAPL) announced that customers can start making payments on Monday, October 20, when Apple Pay becomes available in the U.S. Users of the iPad Air 2 and iPad mini 3 will be able to use Touch ID on their devices for Apple Pay within apps. The new service will be enabled by a free software update to iOS 8. Apple Pay supports credit and debit cards from the three major payment networks: American Express (AXP), MasterCard (MA) and Visa (V). In addition to American Express, Bank of America (BAC), Capital One Bank (COF), Chase (JPM), Citi (C), Wells Fargo (WFC) and others, who announced support in September, more than 500 new banks from across the country have signed on to Apple Pay, the company said.
October 14, 2014
08:50 EDTVVisa, 3PEA International enter into prepaid card agreement
Subscribe for More Information
October 13, 2014
07:19 EDTVAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link

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