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Fly News Breaks for July 18, 2017
V
Jul 18, 2017 | 07:33 EDT
Oppenheimer analyst Glenn Greene raised his price target for Visa to $106 from $100 ahead of Q2 results as he is encouraged by "solid" April intra-quarter volume growth, "solid" retail sales growth, broadly positive car-issuer volumes and improving FX trends. The analyst reiterates an Outperform rating on the shares.
News For V From the Last 2 Days
V
Mar 27, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here
V
Mar 26, 2024 | 16:25 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
V
Mar 26, 2024 | 12:08 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
V
Mar 26, 2024 | 08:51 EDT
Mastercard (MA) announced it has reached an agreement to reduce its U.S. credit card interchange rates for at least a five-year period as part of a legal settlement with merchants. "The settlement, which also features a set of adjustments to Mastercard's network rules, allows small businesses and all merchants to continue to benefit from accepting electronic payments while delivering consumers a simple and secure way to pay," the company stated. The agreement - agreed to by Mastercard, Visa (V) and the court-appointed class counsel - provides all merchants with clarity and certainty on several areas related to their acceptance of payment cards, the company added. "The settlement is subject to final approval by the Eastern District Court of New York. Upon final approval of the class settlement by the court, Mastercard will have resolved the vast majority of all pending U.S. merchant litigations that are directed at seeking changes to the company's interchange structure and merchant acceptance rules. In agreeing to the settlement, Mastercard does not admit to any improper conduct with respect to the plaintiffs' allegations. All rules practice changes will occur after approval of the settlement, most likely in late 2024 or early 2025. This agreement follows a prior settlement with a damages class," MasterCard stated. "This agreement brings closure to a long-standing dispute by delivering substantial certainty and value to business owners, including flexibility in how they manage acceptance of card programs. As the court reviews the settlement, we will focus our energy on continuing to provide consumers, small businesses and all business owners what they expect from Mastercard - a better payments experience, strong value and peace of mind," said Rob Beard, Chief Legal Officer, General Counsel and Head of Global Policy at Mastercard.
V
Mar 26, 2024 | 08:51 EDT
After nearly 20 years of litigation, Visa (V) announced it has agreed to a landmark settlement with U.S. merchants, more than 90 percent of which are small businesses, lowering credit interchange rates and capping those rates into 2030. The settlement also provides updates to several network rules giving merchants more choice in how they accept digital payments. The agreement's multi-year benefits for businesses include: Lower interchange rates. The settlement will reduce credit interchange rates for U.S. merchants, comprised largely of small businesses. Interchange rates will not go up. The agreement will cap the reduced credit interchange rates for five years, providing an unprecedented level of cost certainty long sought by merchants. The settlement gives merchants greater flexibility at the point-of-sale, including the opportunity to steer to preferred payment methods and more optionality around surcharging. It also provides funding for new programs to educate small businesses about payment acceptance options and how to best manage costs. This settlement agreement with merchants resolves claims against Visa, Mastercard (MA) and other defendants brought by the injunctive relief class in the lawsuit entitled In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. It is subject to approval by the court.
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Mar 26, 2024 | 08:12 EDT
Evercore ISI analyst David Togut raised the firm's price target on Visa to $335 from $325 and keeps an Outperform rating on the shares. February U.S. payment volume growth accelerated following a soft January, with commentary from Visa pointing to quarter-to-date U.S. payment volume growth through February 21 in line with the Q4 rate of 5%, the analyst tells investors. Overall, calendar Q1 data points reflect a U.S. soft-landing scenario, supporting continued, stable payment volume growth, and creating a favorable set up for most of the payment companies the firm covers, the analyst added in a Q1 preview note for the payments, processors and IT services group.