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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 27, 2015
08:28 EDTVVisa price target raised to $86 from $75 at BMO Capital
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July 24, 2015
16:30 EDTVStocks end week lower as Apple headlines busy week of earnings
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16:22 EDTVOn The Fly: Top stock stories for Friday
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12:54 EDTVOn The Fly: Top stock stories at midday
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09:17 EDTVVisa price target raised to $85 form $72 at Susquehanna
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09:14 EDTVOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Amazon (AMZN), up 20.7%... Pandora (P), up 10.3%... Juniper (JNPR), up 9.1%... Visa (V), up 6.7%... Starbucks (SBUX), up 5%... Skyworks (SWKS), up 2.6%... American Airlines (AAL), up 2.1%. ALSO HIGHER: SolarCity (SCTY), up 2.5% after being upgraded to Outperform from Neutral at Baird. DOWN AFTER EARNINGS: Tripadvisor (TRIP), down 8.5%... Biogen (BIIB), down 14.1%.
06:46 EDTVVisa CEO: FIFA response to scandal 'wholly inadequate,' WSJ reports
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July 23, 2015
17:43 EDTVVisa up 7% after reporting Q3 results
16:45 EDTVVisa files automatic mixed securities shelf
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16:30 EDTVVisa looks to resolve discussions with Visa Europe by October-end
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16:12 EDTVVisa backs FY15 annual operating margin in mid 60s
Sees FY15 annual free cash flow greater than $6B.
16:11 EDTVVisa sees FY15 common stock EPS growth mid-teens range
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16:11 EDTVVisa moves up after earnings news
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16:08 EDTVVisa reports Q3 payments volume growth 11%
Reports payments volume, on a constant dollar basis, for the three months ended March 31, 2015, on which fiscal third quarter service revenue is recognized, was 11% over the prior year at $1.2 trillion. Payments volume growth, on a constant dollar basis, for the three months ended June 30, 2015, was 11% over the prior year at $1.3 trillion. Cross-border volume growth, on a constant dollar basis, was 8% for the three months ended June 30, 2015. Total processed transactions, which represent transactions processed by VisaNet, for the three months ended June 30, 2015, were 18.0 billion, an 8% increase over the prior year. As a result of recent changes in Russian National Payment System law, the Company has transitioned the processing of Russian domestic transactions to the Russian National Payment Card System during the fiscal third quarter. This impacted processed transactions growth negatively by approximately 2 percentage points during the quarter.
16:07 EDTVVisa reports Q3 EPS 74c, consensus 59c
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15:04 EDTVNotable companies reporting after market close
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14:17 EDTVEarnings Watch: Visa reports after 'top pick' mention by Bernstein
Visa (V) is expected to report third quarter results after the close on July 23, with a conference call scheduled for 5:00 pm ET. Visa is a global payments technology company. EXPECTATIONS: Analysts are looking for earnings per share of 59c on revenue of $3.36B. EPS consensus ranges 54c-65c on a revenue range of $3.32B-$3.41B, according to First Call. LAST QUARTER: On April 30, Visa reported second quarter EPS of 63c against expectations for 62c, and reported revenue of $3.41B versus estimates of $3.34B. During its quarterly conference call, the company noted that "we're now looking at Q3 fully diluted EPS being 6c-8c lower than analyst's current expectations," adding that results are likely to be pressured by higher client incentives. Visa executives also disclosed expectations for a "meaningful step-up" in Q3 expense growth, with a number of marketing and technology initiatives having shifted towards the latter half of the year. PEERS: American Express (AXP) reported quarterly earnings after the close on July 22, with earnings above consensus estimates but revenue somewhat below expectations, noting a "significant" impact from a stronger U.S. dollar on international operations. NEWS: On May 8, Bloomberg reported that Visa was in preliminary talks to acquire Visa Europe for $15B-$20B, according to sources. On June 3, Visa and FireEye (FEYE) announced a strategic partnership to co-develop tools and services to protect against cyber attacks targeting payment data. On June 5, the Wall Street Journal reported that, due to Visa and MasterCard (MA) having finalized their card-security technology, Google's (GOOG) Android Pay will not be earning any transaction fees from credit-card issuers, and on June 17, Reuters reported that a U.S. appeals court affirmed that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa. STREET RESEARCH: On May 19, Pacific Crest's Josh Beck shifted his preference to MasterCard from Visa, though he noted that the shift was simply due to Visa's outperformance over the past year. On May 20, Bernstein noted that the risk/reward ratio for both Visa and MasterCard looks positive, with the companies offering secular growth, "compelling" business models, and modest risk. More recently on July 14, Bernstein named Visa among its "Vintage Values 2016" list, citing the company's U.S. acquirer price increase and expectations that the Visa Europe put option will be exercised this year. PRICE ACTION: Shares of Visa have fallen just under 1% to $71.41 ahead of Thursday's earnings report.
14:11 EDTVVisa July weekly straddle 71.5 priced for 3.3% movement into Q3
July 22, 2015
15:01 EDTVEarnings Watch: American Express reports after several 'top pick' mentions
American Express (AXP) is expected to report second quarter earnings after the close on July 22, with a conference call scheduled for 5:00 pm ET. American Express is a global financial services company specializing in credit card and pre-paid card products and services. EXPECTATIONS: Analysts are looking for earnings per share of $1.32 on revenue of $8.46B. The consensus range is $1.23-$1.41 for EPS and $8.29B-$9.01B for revenue, according to First Call. LAST QUARTER: On April 16, American Express reported first quarter EPS of $1.48 against expectations for $1.37, and revenue of $7.95B versus estimates of $8.21B. The company reported ROE of 29% and guided towards flat to modestly down FY15 EPS as it ramps investments to offset the March 2016 expiration of its Costco (COST) partnership. NEWS: On May 12, American Express authorized the repurchase of up to 150M company shares while also raising its dividend 12% to 29c per share. During the Bernstein Strategic Decisions Conference on May 28, company executives remarked that a "range" of co-brand deals would be coming up for American Express, adding that the loss of the Costco contract was not the "be-all, end-all" for the company. On June 17, Reuters reported that a U.S. appeals court affirmed a prior ruling that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa (V) or Mastercard (MA). STREET RESEARCH: On April 27, Nomura downgraded American Express to Neutral from Buy, citing minimal upside to 2015 and 2016 estimates amid a lack of near-term catalysts. Meanwhile, Bernstein upgraded the stock to Outperform from Market Perform on May 6. On May 18, Deutsche Bank reiterated a Buy rating and $90 price target on American Express shares, saying it sees a $750M-$850M annual revenue opportunity through the "Plenti" loyalty program coalition. On June 2, Bernstein said it expects credit card volumes to grow 10%-12% annually over the next five years, adding that American Express, Capital One (COF) and Synchrony Financial (SYF) are its favorites in the sector. Following meetings with American Express executives, Citi called American's risk/reward ratio "attractive" on June 4, and on July 8, Deutsche Bank said it was positive on credit card stocks going into second quarter earnings, with American Express named a top pick. PRICE ACTION: Shares of American Express are near flat to $78.96 ahead of Wednesday's earnings report.
12:12 EDTVVisa July weekly volatility elevated into Q3 and outlook
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