Fly News Breaks for March 4, 2020
Mar 4, 2020 | 06:46 EDT
MoffettNathanson analyst Lisa Ellis noted that Visa (V) and MasterCard (MA) shares are down 13% and 16%, respectively, in the past 10 trading days, which she views as a unique buying opportunity "particularly for longer-term holders able to stomach likely 2020 volatility." While COVID-19 will have a material negative impact on the networks' revenues, they both have broad discretion over their expenses and she believes they can flex expense growth to offset the revenue headwind, leaving Ellis to expect no impact to EPS growth in FY20 for either Visa or MasterCard. In a case where the coronavirus triggers a protracted economic downturn, the networks' businesses are more resilient to slowdowns in consumer spending than is often perceived, Ellis added in her note to investors. The analyst has a Buy rating and $240 price target on Visa shares and a Buy rating and $380 price target on MasterCard.
News For V;MA From the Last 2 Days
Apr 15, 2021 | 09:40 EDT
Unusual total active option classes on open include: Hewlett Packard Enterprise (HPE), GlaxoSmithKline (GSK), Inovio (INO), Melco Resorts (MLCO), Blackstone (BX), Virgin Galactic (SPCE), Taiwan Semi (TSM), C3 AI (AI), Visa (V), and DocuSign (DOCU).
Apr 15, 2021 | 09:30 EDT
Mastercard announced the appointment of Tim Murphy, the company's general counsel, to the newly created position of chief administrative officer. In this role, he will have oversight of the company's law, franchise and integrity activities, as well as the added management of its people and capabilities function. Richard Verma, executive vice president for global public policy and regulatory affairs, has been promoted to general counsel and head of global public policy. He will now lead the company's core legal and regulatory functions, as well as its global and regional public policy teams.