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Visa (V), Mastercard (MA) Soar on Debit Card Rule
Wednesday, June 29, 2011 - 4:12pm | 609Visa (V) and Mastercard (MA) have taken off like fireworks here in the last hour on news of a long awaited debit card ruling.* The outcome (21 cents) was better then the initially floated fee of 12 cents [Dec 16, 2010: Fed Proposes 12 Cent Cap on Debit Card Transactions - Mastercard & Visa...
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Visa And Mastercard Soar On Swipe Fee Increase
Wednesday, June 29, 2011 - 3:58pm | 75This afternoon, Visa Inc.(NYSE: V), and Mastercard Inc.(NYSE: MA) are soaring higher after the Federal Reserve raised the cap on debit card swipe fees to 0.21 cents to 0.12 cents. Traders should watch for intra-day resistance on MA stock around the $308.25 level. The intra-day resistance level on...
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Visa And MasterCard Extending Gains
Wednesday, June 29, 2011 - 3:49pm | 30Visa (NYSE: V) is now trading 15% higher at $86.85. MasterCard (NYSE: MA) is up 10.20% to $306.75.
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MasterCard And Visa Spike On Swipe Fee Ruling
Wednesday, June 29, 2011 - 3:25pm | 120Shares of credit card companies MasterCard (NYSE: MA) and Visa (NYSE: V) have spiked on a ruling from the Federal Reserve on swipe fees. The ruling appears to be a compromise between the Fed and the credit card companies. The original swipe fee that retailers had to pay banks for processing debit...
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List of Companies Affected by Fed's Recommendation
Wednesday, June 29, 2011 - 3:22pm | 147On Wednesday, the Federal Reserve recommended that the cap on debit card-swipe fees be increased to $0.21. Following the news, shares of Visa (NYSE: V) and Mastercard (NYSE: MA) spiked higher; both rallied over 9% before being halted temporarily. Yet, other companies saw a rally as well: Bank of...
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MasterCard site goes down
Tuesday, June 28, 2011 - 6:18pm | 72The No. 3 credit card company said its corporate website crashed intermittently Tue. morning. MasterCard blamed a glitch at an unnamed Internet service provider, but hacking groups claimed credit for the outage. MasterCard's site was up again by midday and no customer data were affected, the...
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Progress Software Roll Over in the After-Hours
Tuesday, June 28, 2011 - 4:53pm | 257Shares of Progress Software (NASDAQ: PRGS) are falling in the after-hours following the release of its Q2 earnings results. Currently, shares are off by 5.67%, trading at $21.96; they closed the regular session higher by 0.17%, at $23.28. Progress Software reported Q2 GAAP EPS of $0.26, on a...
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UPDATE: Jefferies Initiates Western Union at Buy
Tuesday, June 28, 2011 - 9:09am | 89Jefferies is out with its report today on Western Union (NYSE: WU), initiating WU at Buy. In a note to clients, Jefferies writes, "We are positive on WU because: 1) we like the new CEO's strategy and emerging track record, 2) more of WU's substantial cash flow is being returned to shareholders, 3...
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JP Morgan Reiterates Neutral and PT of $66 on Fiserv
Tuesday, June 28, 2011 - 9:09am | 42JP Morgan reiterated its Neutral rating on Fiserv (NASDAQ: FISV). At the same time, the rating agency left its price target on the company's stock unchanged at $66. On Monday, Fiserv ended the day at $61.20.
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UPDATE: Jefferies Initiates Mastercard at Buy
Tuesday, June 28, 2011 - 8:20am | 112Jefferies is out with its report today on Mastercard (NYSE: MA), initiating MA at Buy. In a note to clients, Jefferies writes, "We believe MasterCard's current multiple is not reflective of the uniqueness and earnings power of the underlying business model. While ongoing regulatory concerns will...
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UPDATE: Jefferies Initiates Total Systems Services at Buy
Tuesday, June 28, 2011 - 8:14am | 112Jefferies is out with its report today on Total System Services (NYSE: TSS), initiating TSS at Buy. In a note to clients, Jefferies writes, "After weathering the steep economic downturn and resulting impact on its core bank customers, TSS has started to reap benefits from a more favorable consumer...
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Regions Bank Signs Agreement with Western Union to Offer Global Money Transfer and Payment Services
Tuesday, June 28, 2011 - 8:04am | 54Regions Bank (NYSE: RF) and Western Union (NYSE: WU) today announced an agreement to offer the Western Union® global money transfer service and the Western Union expedited bill pay service across 1,700 Regions Bank locations in the U.S.
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Jefferies Assumes Coverage on Computer Sciences at Hold
Tuesday, June 28, 2011 - 7:57am | 106Jefferies is out with its report today on Computer Sciences (NYSE: CSC), maintains Hold. In a note to clients, Jefferies writes, "While we are hard-pressed to find reasons to be positive on CSC right now following another disappointing quarter, depressed valuation (7x C12 P/E) suggests that a good...
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News Summary for June 28, 2011
Tuesday, June 28, 2011 - 7:56am | 358This is your Benzinga news summary and traders' outlook for Tuesday, June 28, 2011, covering headlines from overnight and Tuesday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading slightly lower after posting gains yesterday. The U.S. dollar is trading...
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Jefferies Initiates Coverage On Paychex With A Hold Rating
Tuesday, June 28, 2011 - 7:49am | 69According to Jefferies, Paychex (NASDAQ: PAYX) coverage was initiated with a Hold rating. Jefferies said that PAYX is a stock that to some extent lives in its past. “Our $31/share price target is based on a blend of 19x our C12 EPS estimate of $1.57 and our DCF. Risks include small business...