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Visa Inc. (V)

  • Mon, Mar. 2, 8:13 AM
    • Citigroup (NYSE:C) will become the exclusive co-issuer of Costco's (NASDAQ:COST) co-brand credit cards, and Visa (NYSE:V) will replace American Express (NYSE:AXP) as the credit card network for Costco in the U.S. and Puerto Rico, beginning April 1, 2016.
    • On CNBC as the news hit, AmEx shareholder Warren Buffett: Citi won't get rich off the Costco deal.
    • Source: Press Release
    • +0.6%, V +2.4% premarket
  • Thu, Feb. 19, 12:07 PM
    • "The court's ruling will not provide any benefit to consumers and will, in fact, harm competition by further entrenching the two dominant networks," says American Express (AXP -2.2%), responding to its loss in an antitrust lawsuit, and vowing to appeal.
    • Filed in 2010 and heard by a federal judge last year, the case is about AmEx's prohibiting merchants who accept its cards from steering customers towards those cards processed by rivals Visa (V +0.3%) and MasterCard (MA +1.7%), or debit cards.
    • “The most damaging thing that can happen to the American Express brand is when our card members are discriminated against at the point of sale,” said company CEO Ken Chenault when he testified at last year's trial.
    • It's another 2015 blow for AmEx which last week announced an end to its long-time exclusive partnership with Costco in the U.S. The stock's now lower by about 16% YTD.
    • Previously: AmEx lower by 1.9% after losing antitrust suit (Feb. 19)
  • Mon, Feb. 2, 4:32 PM
    • Visa (NYSE:V) announces Vasant Prabhu will replace the retiring Bryon Pollitt as the company's CFO.
    • Prabhu is the former CFO at NBCUniversal.
    • -0.9% after hours.
    | Comment!
  • Fri, Jan. 30, 11:36 AM
  • Thu, Jan. 29, 4:20 PM
    • Visa (NYSE:V) reports the strong U.S. dollar impacted growth by a full 2 percentage points in Q4.
    • Payments volume growth +11% to $1.2T on a constant dollar basis.
    • Cross-border volume growth +8%.
    • Processed transactions +10% to 17.6B.
    • Operating expenses +10% to $1.1B.
    • The company announces a 4-for-1 split.
    • +4.2% after hours
  • Thu, Jan. 29, 4:12 PM
    • Visa (NYSE:V): FQ1 EPS of $2.53 beats by $0.04.
    • Revenue of $3.38B (+7.0% Y/Y) beats by $40M.
    • Shares +4.84%.
    • Press Release
  • Oct. 30, 2014, 12:35 PM
    • Shares of Visa (V +9.1%) are in rally mode after the credit card giant posts strong FQ4 results and issues pleasing guidance.
    • The company's plan to charge some U.S. banks a higher card-processing rate has drawn notice from investors and analysts.
    | 1 Comment
  • Oct. 29, 2014, 5:50 PM
    • Visa (NYSE:V) is guiding for low-double digit FY15 (ends Sep. '15) constant dollar revenue growth, with forex having a 200 bps negative impact; consensus (based on real dollars) is for 10.2% growth. Free cash flow is expected to be above $6B.
    • Op. margin is forecast to be in the mid-60s range; its was at 64% in FY14, and 61% in FY13. Client incentives are expected to equal 17.5%-18.5% of gross revenue, up from FY14 16.9%.
    • FQ4 payments volume +11% Y/Y to $1.2T; cross-border volume +10%; processed transactions +9% to 16.9B.
    • Service revenue +8% to $1.5B; data processing +14% to $1.3B; international +4% to $938M; everything else +16% to $212M.
    • MasterCard (NYSE:MA) is getting a lift from Visa's numbers.
    • FQ4 results, buyback, PR
  • Oct. 29, 2014, 4:11 PM
    • Visa (NYSE:V): FQ4 EPS of $2.18 beats by $0.08.
    • Revenue of $3.23B (+8.8% Y/Y) beats by $40M.
    • Shares +3.7%.
    • Press Release
    | Comment!
  • Oct. 2, 2014, 9:21 AM
    • Sandler O'Neill downgrades both Visa (NYSE:V) and MasterCard (NYSE:MA) on a soured view of the growth prospects of the payments companies in relation to valuation.
    • Visa is taken Hold from Buy, while MasterCard goes to Sell from Hold.
    • MA -1.0% premarket and Visa -0.6%.
  • Sep. 2, 2014, 3:48 PM
    • Home Depot (HD -2.4%) confirms it's looking into "unusual activity" as it works with law enforcement officials in relation to a possible loss of customer credit card and debit card information.
    • Early reports indicate the breach occurred in late April and could involve over 2K Home Depot stores.
    • Shares of Home Depot have recouped a bit from their initial slide after the breach report broke. Some retail analysts called the peeling off of $3.5B in market cap somewhat overdone.
    • What to watch: If the breach is as large as some banks are reporting, an increased push by the industry toward the adoption of smart card technology could be on the way.
    • Related EMV stocks: PAY, NCR, MA, V, OTCQX:IFNNY, NXPI,
  • Aug. 28, 2014, 7:02 AM
    • Raymond James downgrades Visa (NYSE:V) to a Market Perform rating from Outperform on concerns over cross-border volume growth.
    • The loss of business in Russia is a particular concern.
    • The investment firm pulled its price target which had been set at $235.
    • V -1.6% premarket to $213.76.
  • Jul. 24, 2014, 4:27 PM
    • FQ3 net income of $1.4B up 11% Y/Y, with EPS of $2.17 up 15%; net operating revenue of $3.2B up 7% on constant dollar basis.
    • Payments volume growth in FQ3 of $1.2T up 11% on a constant dollar basis (was up 12% in FQ2).
    • Cross-border volume growth up 7%.
    • Total processed transactions of 16.7B, up 11%.
    • Total operating expenses of $1.1B off 3%.
    • 5.6M shares repurchased during Q at average price of $207.13 each using $1.2B of cash on hand. An additional $1.9B of funds remains available for additional purchases.
    • Full-year outlook is affirmed: Revenue growth of 9-10% with an expectation of 200 basis points of negative foreign currency impact; EPS growth of 17.5-18.5%.
    • Conference call at 5 ET
    • Previously: Visa beats by $0.08, beats on revenue
    • V -2.6% AH
  • Apr. 25, 2014, 3:19 PM
    • Visa (V -4.3%) sinks after beating Q1 earnings forecasts but warning that revenue would slow in Q2 due to sanctions imposed on Russia and a stronger dollar.
    • But analysts largely remain upbeat for the longer term: Pacific Crest says Q1 results were hurt by "a series of idiosyncratic events," and growth should accelerate in H2 2014, while Stifel says underlying trends are strong and shares should outperform beginning in FY 2015.
    • Jefferies calls the results a "modest bump in the road," encouraged by recovery in most April metrics and higher operating margin guidance, but notes that the uncertainty around Russia could weigh on MasterCard’s (MA -4.7%) results when it releases earnings on May 1.
    • As the largest component of the Dow, Visa's stock price movement is having an outsized effect; DJIA -141.
  • Apr. 25, 2014, 10:31 AM
    • Visa's (V -4.4%) FQ2 EPS of $2.52 flew past expectations of $2.18, but a disappointing outlook has the stock sharply lower in early action. Previous guidance had called for 2014 revenue growth of 10-13%, but Visa cut the top end of the range down to 11%.
    • KBW's Sanjay Sakhrani says not only is this a disappointment, but the company included a $218M tax benefit in its full-year guidance, implying lower growth in H2 than originally hoped.
    • Maintaining his Market Perform and $190-$210 PT, Wells' Timothy Willi expects the stock to remain rangebound thanks to those revenue concerns, slower crossborder action, and Russian concern (expected to reduce FY14 EPS by a several pennies). On the bullish side though, credit payments volume growth was a bit stronger, and U.S. PV growth has gotten better thus far this quarter (though Easter may have played a role).
  • Mar. 21, 2014, 10:53 AM
    • An appeals court upholds a Federal Reserve-imposed $0.21 cap on debit card swipe fees, reports Bloomberg. Visa (V +2.2%) and Mastercard (MA +0.1%) were in favor of the high rate, but retailers wanted it lower.
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Company Description
Visa Inc is a payments technology company that connects consumers, businesses, banks and governments in more than 200 countries and territories to fast, secure and reliable electronic payments.
Sector: Services
Country: United States