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COF

Capital One

$95.79

-1.3 (-1.34%)

, SYF

Synchrony

$33.47

0.06 (0.18%)

14:41
07/19/18
07/19
14:41
07/19/18
14:41

Head of U.S. card partnerships leaving Capital One, Bloomberg says

Jimmy Cannon, executive VP of the U.S. partnerships business at Capital One (COF), is leaving the company, according to Bloomberg, citing an internal memo. Capital One is in the process of bidding on Walmart's (WMT) co-brand and private-label business, which is currently held by Synchrony Financial (SYF), the report added. Capital One created a separate team to work on the Walmart effort, which potentially lessens the effect of the departure of Cannon and some of his team, who are also leaving, on that bid, the report said.

COF

Capital One

$95.79

-1.3 (-1.34%)

SYF

Synchrony

$33.47

0.06 (0.18%)

WMT

Walmart

$88.10

0.01 (0.01%)

  • 19

    Jul

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    Jul

  • 08

    Aug

COF Capital One
$95.79

-1.3 (-1.34%)

07/13/18
SPHN
07/13/18
NO CHANGE
Target $100
SPHN
Overweight
Stephens says Walmart move to Capital One cards would be opportunity for TSYS
After Bloomberg reported yesterday that Walmart (WMT) is considering moving its private-label and or co-brand card portfolios to Capital One (COF) from incumbent Synchrony (SYF), Stephens analyst Brett Huff called the potential switch an possible opportunity for TSYS (TSS), which he notes is the card issuer processor for Capital One. He estimates this move, if it happens, could represent about a $15M revenue opportunity for TSYS. Huff keeps an Overweight rating and $100 price target on TSYS shares.
07/13/18
SUSQ
07/13/18
NO CHANGE
SUSQ
Susquehanna says Walmart card flip could be loss for First Data, win for TSYS
After Bloomberg reported yesterday that Capital One (COF) is bidding to issue Walmart's (WMT) private-label card and replace incumbent Synchrony (SYF), Susquehanna analyst James Friedman noted that TSYS (TSS) is used by Capitol One for its issuer processing, while First Data (FDC) processes for Synchrony. If TSYS were to win the issuer processing business of the Walmart cards via a successful Capital One bid, Friedman estimates it could represent revenue upside of $11M-$15M. The firm has Positive ratings on First Data, Synchrony and TSYS.
07/13/18
FBCO
07/13/18
NO CHANGE
Target $45
FBCO
Outperform
Synchrony 'unlikely' to lose Walmart contract, says Credit Suisse
Credit Suisse analyst Moshe Orenbuch said he believes Synchrony Financial (SYF) is likely to retain its credit card contract with Walmart (WMT) following a Bloomberg report that said Capital One (COF) is bidding for the portfolio. Orenbuch says this is "not an ideal partnership" for Capital One, because while it has been a long-time player in the nonprime card business, he feels it is "less likely" that it would be comfortable acquiring a large portfolio with potential significant nonprime component such as the Walmart portfolio, particularly when it did not underwrite the loans. Orenbuch says that if Synchrony does retain the contract, which is expected to expire in 2019, the company will most likely have to cede more economics to Walmart in terms of profit sharing.
07/13/18
BTIG
07/13/18
NO CHANGE
Target $44
BTIG
Buy
Synchrony may have 'upper hand' in Walmart credit card bidding, says BTIG
BTIG analyst Mark Palmer is keeping his Buy rating and $44 price target on Synchrony (SYF), noting the 5.3% decline in its stock price after media reports that Walmart (WMT) is considering shifting its credit card program to Capital One (COF). The analyst believes that Synchrony may still have the upper hand over Capital One because Walmart's objective to build out its digital wallet and mobile payment capabilities is better served by Synchrony's "understated solid experience helping retailers to develop their mobile capabilities" given its recent acquisition of GPShopper, which assists retailers in developing mobile apps. Palmer adds that given the risks and complexity around the transfer of a store-card program, Walmart should require a "very significant advantage", and it is more likely that it will renew its Synchony agreement at "somewhat less favorable terms for the issuer".
SYF Synchrony
$33.47

0.06 (0.18%)

07/16/18
BMOC
07/16/18
NO CHANGE
Target $61
BMOC
Market Perform
Wells Fargo price target raised to $61 at BMO Capital after in-line Q2
BMO Capital analyst James Fotheringham kept his Market Perform rating and nudged his price target on Wells Fargo (WFC) to $61 from $59 after the company's in-line Q2 "core" results which also showed higher than expected net interest margins and lower loss provisions. The analyst notes that after relative underperformance by the financials sector this year, he would recommend that investors buy "inexpensive stocks with near-term catalysts", including Santander (SC), OneMain (OMF), and Synchony (SYF).
WMT Walmart
$88.10

0.01 (0.01%)

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Toll Brothers

$38.34

0.82 (2.19%)

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CDAY

Ceridian

$51.19

1.04 (2.07%)

16:29
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16:29
Syndicate
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$154.12

1.62 (1.06%)

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PSTG

Pure Storage

$20.60

0.6 (3.00%)

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EXPR

Express

$3.45

0.08 (2.37%)

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OOMA

Ooma

$14.49

-0.45 (-3.01%)

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AVP

Avon Products

$3.20

0.06 (1.91%)

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

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RRBI

Red River Bancshares

$49.95

(0.00%)

16:19
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Initiation
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TRNS

Transcat

$24.25

0.13 (0.54%)

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AYR

Aircastle

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OOMA

Ooma

$14.49

-0.45 (-3.01%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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NASDAQ market internals summary »

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TRNS

Transcat

$24.25

0.13 (0.54%)

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Earnings
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RDNT

RadNet

$13.62

0.37 (2.79%)

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PRSP

Perspecta

$22.33

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LIQT

LiqTech

$9.29

-0.21 (-2.21%)

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LIQT

LiqTech

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OOMA

Ooma

$14.49

-0.45 (-3.01%)

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