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Mon, Jul. 27, 9:26 AM
- MasterCard (NYSE:MA) and Visa (NYSE:V) face bigger challenges in China than some investors may be banking on, according to an opinion piece in Reuters.
- Robyn Mak notes transaction processing fees are much lower in China and convincing retail chains to change processing networks won't be easy.
- The potential entry of Alipay into the market is also a factor.
- Shares of MasterCard and Visa rallied strongly last fall after it was announced foreign payments players could enter China.
Fri, Jul. 24, 3:31 PM
- Goldman's (GS -1.8%) Q2 results confirmed the team's expectation of positive revisions to 2016 consensus EPS. Zions (ZION -0.7%) has "multiple catalysts" to reach improve profitability goals and EPS growth over the next three years.
- Guggenheim's four key investment themes: 1) Names levered to improving M&A, with Goldman being the best idea, followed by Morgan Stanley (MS -1.3%); 2) Restructuring stories, with Zions the best idea, but First Horizon (FHN -1%), Ally Financial (ALLY -1.8%), and BofA (BAC -1.6%) also worth looking at; 3) Idiosyncratic growth stories like MasterCard (MA +0.7%), Visa (V +4.5%), Synchrony Financial (SYF -2.4%), and Signature Bank (SBNY -0.8%); 4) Names with a distinct M&A catalyst in the regionals group like BB&T (BBT -1.5%), CIT Group (CIT -1.6%), and Springleaf (LEAF -1.4%).
- Mixed results from credit card companies affirm the team's preference for SYF, but the risk/reward at AmEx (AXP -1.4%) is improving. AmEx, CapOne (COF -13%), and Discover (DFS -2.7%) results show the boosted competition they face form the banks, which is slowing growth, and lifting marketing and rewards costs.
- Source: Barron's
- Previously: Capital One tumbles after earnings miss and trio of downgrades (July 24)
Thu, Jul. 9, 6:56 AM
- EU antitrust regulators have filed formal charges against MasterCard (NYSE:MA), accusing it of artificially raising the cost of its card payments.
- "We have concerns both in relation to the rules MasterCard applies to cross-border transactions within the EU, as well as the fees charged to retailers for receiving payments made with cards issued outside Europe," the EU’s antitrust chief Margrethe Vestager said in a statement.
- If the charges are confirmed, the EU could fine MasterCard up to 10% of its global annual turnover, which was $9.5B last year.
Fri, Jun. 19, 7:33 AM
- Following a court's ruling finding American Express' (NYSE:AXP) behavior anti-competitive, the company will stop the practice of prohibiting merchants who accept its cards from steering customers to competitors.
- Beginning next month, merchants will be able to offer discounts or rebates to customers paying with a Visa (NYSE:V) or MasterCard (NYSE:MA), or display signs saying which card they prefer.
- "These fees are a part of doing business, but you’d be silly not to consider all of your options,” says a restaurant owner who still has a "We prefer Visa" sticker near his front door, a relic of a 90s advertising campaign.
- Source: WSJ's Robin Sidel
- Previously: AmEx loses bid to block steering rules (June 17)
Sun, Jun. 7, 6:45 AM
- Google's (NASDAQ:GOOG) new mobile phone payment service, Android Pay, will not garner any transaction fees from credit card companies, WSJ reports, possibly putting pressure on Apple (NASDAQ:AAPL) to drop or lower its charges for Apple Pay.
- Dominant payment networks, Visa (NYSE:V) MasterCard (NYSE:MA), recently standardized their "tokenization" card-security service and made it free, preventing payment services from charging fees to issuers.
- "This is a bold move on behalf of the banks," said Rick Oglesby, head of research at Double Diamond Payments Research. After agreeing to Apple's terms for Apple Pay, "they’re now taking a stand against similar deals. It could easily turn into a standoff."
- Apple Pay currently receives 0.15% of the value of each credit card transaction and collects a half-cent per purchase on bank debit cards.
- Previously: Apple poised to bring Apple Pay to the U.K. - Telegraph (Jun. 06 2015)
Sun, May 31, 8:13 AM
- Visa (NYSE:V), MasterCard (NYSE:MA) and other global bank card operators will be allowed to clear domestic Chinese payments starting Monday, following a long-running effort to enter the market dominated by state-backed UnionPay.
- In late October, China's cabinet announced it would allow foreign companies to access the $73T-a-year market. The government then followed up with the official rules last month.
- Previously: Door opens for MasterCard and Visa in China (Apr. 22 2015)
Fri, May 22, 2:08 PM
Thu, May 21, 9:17 AM
- New additions to Goldman's hedge fund hotels - 50 stocks which most frequently appear among the largest ten holdings of hedge funds: AerCap (NYSE:AER), Assured Guaranty (NYSE:AGO), Baker Hughes (NYSE:BHI), Citizens Financial (NYSE:CFG), Colony Capital (NYSE:CLNY), Dresser-Rand (NYSE:DRC), Family Dollar (NYSE:FDO), Hospira (NYSE:HSP), Netflix (NASDAQ:NFLX), NXP Semi (NASDAQ:NXPI), Pharmacyclics (NASDAQ:PCYC), Visa (NYSE:V), and Walgreens (NASDAQ:WBA).
- Since 2001, the basket has outperformed the S&P 500 in 66% of quarters by an average of 73 basis points. YTD, however, it has underperformed by nine bps. Goldman notes the current basket overweights Consumer Discretionary (22%) and underweights Consumer Staples (2%).
- Looking at the full list, Actavis (NYSE:ACT) leads the way, with 77 funds naming the stock as a top 10 holding. Next up is Apple (NASDAQ:AAPL) with 69, then Facebook (NASDAQ:FB) at 42. For the entire list of 50, the average is 26 funds making a stock a top 10 holding.
- The rest in order: Valeant (NYSE:VRX), Microsoft (NASDAQ:MSFT), DirecTV (NASDAQ:DTV), Citigroup (NYSE:C), Time Warner (NYSE:TWC), Delta (NYSE:DAL), Cheneire (NYSEMKT:LNG), Yahoo (NASDAQ:YHOO), Liberty Global (NASDAQ:LBTYK), AIG, SunEdison (NYSE:SUNE), Air Products (NYSE:APD), Amazon (NASDAQ:AMZN), GM, BofA (NYSE:BAC), JPMorgan (NYSE:JPM), Macquarie Infrastructure (NYSE:MIC), American Airlines (NASDAQ:AAL), Charter Communications (NASDAQ:CHTR), Google (GOOG, GOOGL), Ally Financial (NYSE:ALLY), NorthStar Realty (NYSE:NRF), Priceline (NASDAQ:PCLN), eBay (NASDAQ:EBAY), MasterCard (NYSE:MA), Alibaba (NYSE:BABA), Micron (NASDAQ:MU), Williams (NYSE:WMB), Gilead (NASDAQ:GILD), Berkshire Hathaway (BRK.A, BRK.B), Dolar General (NYSE:DG), NorthStar Asset (NYSE:NSAM), Brookdale Senior (NYSE:BKD), DISH Network (NASDAQ:DISH).
- See also: Goldman updates list of hedge funds most-shorted stocks (May 21)
Wed, May 20, 7:38 AM
- CLSA initiates coverage on MasterCard (NYSE:MA) with an Outperform rating.
- The investment firm sets a price target of $105 on the payments stock.
- Analysts have been resetting longer-term expectations on MasterCard due in part to its prospects in China.
- Previously: Door opens for MasterCard and Visa in China (Apr. 22 2015)
- MA +0.5% premarket.
Mon, May 18, 10:14 AM| Mon, May 18, 10:14 AM | 3 Comments
Wed, May 6, 12:14 PM
- MasterCard (MA +0.4%) expects to keep up its strong pace of growth in Africa and the Middle East.
- The company just crossed over 100M cards in the region and saw the average transaction size grow by an impressive 20.9% in Q1.
- Strategic partnerships with governments in Africa have helped MasterCard enter into new markets.
Wed, Apr. 29, 8:57 AM
- MasterCard (NYSE:MA) reports revenue rose 8% after adjusting the currency impact.
- Gross dollar volume +12% to $1.1T.
- Cross-border volume +19%.
- Processed transactions +12% to 11B.
- Worldwide purchase volume was up 12% to $783B.
- Operating margin rate increased 142 bps to 60.58%.
- A standout from the quarter was the effective tax rate paid by the company of 23.9% vs. 32.0% a year ago.
- MA +1.15% premarket.
- Q1 results
Wed, Apr. 29, 8:02 AM
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MasterCard Inc is a technology company in the payments industry that connects consumers, financial institutions, merchants, governments and businesses, enabling them to use electronic forms of payment instead of cash and checks.
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