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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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February 26, 2015
06:46 EDTVDeutsche sees American Express as undervalued, upgrades to Buy
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February 24, 2015
06:39 EDTVVisa Europe announces 'tokenisation service'
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February 20, 2015
06:49 EDTVVisa shifting to local payment systems in Russia, WSJ says
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February 19, 2015
12:45 EDTVOn The Fly: Midday Wrap
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12:09 EDTVAmerican Express confirms intent to appeal federal court ruling
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11:00 EDTVAmerican Express plans to appeal antitrust ruling, CNBC reports
American Express stated to CNBC that the company is "disappointed" with a court decision in an antitrust matter and plans to file an appeal. "The court's ruling will not provide any benefit to consumers and will, in fact, harm competition by further entrenching the two dominant networks. We continue to believe that the Department of Justice's arguments are flawed and believe we should prevail on appeal," American Express stated. Reference Link
08:04 EDTVVisa to extend Visa Checkout service, totaling 16 markets by late 2015
Visa announced that Visa Checkout will become available in a total of 16 markets in 2015. Currently, consumers from 10 countries can sign up for Visa Checkout. By the end of 2015 Visa Checkout will be available in the following 16 markets: U.S., Australia, and Canada, Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa and United Arab Emirates. Consumers in newly-enabled markets will first be able to use Visa Checkout to buy from merchants in the U.S., Australia and Canada that accept Visa Checkout and ship internationally. As the rollout continues, select markets will begin to incorporate issuer, merchant, acquirer, and channel partnerships to support local commerce with Visa Checkout. Visa will also launch localized Visa Checkout websites for many of these markets.
February 17, 2015
17:29 EDTVBerkshire Hathaway gives quarterly update on stakes, exits Exxon Mobil
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07:22 EDTVMitsubishi UFJ to hold a tour
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February 13, 2015
06:01 EDTVVisa to remove 16-digit account number in online, mobile payments
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