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Visa Inc (V)

V on New York Consolidated

80.57USD
26 Aug 2016
Change (% chg)

$0.25 (+0.31%)
Prev Close
$80.32
Open
$80.62
Day's High
$81.14
Day's Low
$80.17
Volume
7,932,220
Avg. Vol
8,493,568
52-wk High
$81.76
52-wk Low
$66.12

Latest Key Developments (Source: Significant Developments)

Visa says longer term impact of brexit on Visa Europe's business is too early to determine
Thursday, 21 Jul 2016 07:06pm EDT 

Visa : Visa on operations in China - working through issues relating to national security reviews and encryption standards . Says "cross border commerce from oil and commodity based economies remain sluggish. This conference call is still in progress" . "in the short term currency weakness and reduced economic growth are factors" . Visa says post the brexit vote, currency volatilities reached levels co has not experienced in recent years . Visa says had co included visa europe results for nine days it owned visa europe in quarter, it would have added minimum $12 million to net income . Visa says longer term impact of brexit on visa europe's business is too early to determine . Visa says immediate impact of brexit vote on visa europe has been on exchange rates . Assuming exchange rates stay where they are and no major economic dislocations due to brexit, expect visa europe earnings to offset interest costs from debt in q4 . Visa europe is expected to add 2% to 3% to eps accretion in fiscal year 2017 . Current tax structure results in high reported or book tax rate for visa europe's earnings, which will add 1 percentage point to tax rate in 2017 . Visa europe has over $2 billion of cash on balance sheet; based on discussions with regulator in uk, will leave cash within visa europe legal entity . Current plan is to issue at least $2 billion in debt before the end of this calendar year.  Full Article

Paypal and Visa enter partnership to extend consumer payment choice
Thursday, 21 Jul 2016 04:04pm EDT 

Paypal Holdings Inc : Paypal will not encourage Visa cardholders to link to a bank account via ach . Says agreement affords Paypal certain economic incentives, including visa incentives for increased volume . Paypal will join visa digital enablement program (VDEP) to expand point of sale acceptance . Paypal and visa enter partnership to extend consumer payment choice . Visa digital card images will be incorporated into payment flows . Companies working collaboratively to accelerate adoption of safe, reliable and convenient digital payments for consumers and merchants .Paypal will also support and work with issuers to identify consumers who choose to migrate existing ach payment flows to their visa cards.  Full Article

Visa Q3 GAAP earnings per share $0.17 including items
Thursday, 21 Jul 2016 04:00pm EDT 

Visa Inc : Did not include Visa Europe's financial results from June 21, 2016 through june 30, 2016 . Visa inc says total processed transactions for three months ended June 30, 2016, were 19.8 billion, a 10% increase over prior year . Payments volume growth, on a constant dollar basis, for three months ended June 30, 2016, was 10% over prior year at $1.3 trillion . Sees Fy Gaap Annual Diluted Class A Common Stock Earnings Per Share Of Negative Low Single-Digit constant dollar EPS growth . Visa inc sees fy 2016 annual net revenue growth, GAAP and adjusted, 7% to 8% on a constant dollar basis, excluding. Europe . Visa inc. Reports fiscal third quarter 2016 results and announces a new $5.0 billion share repurchase program . Q3 adjusted earnings per share $0.69 excluding items . Q3 revenue $3.6 billion versus i/b/e/s view $3.65 billion . Q3 earnings per share view $0.66 -- Thomson Reuters I/B/E/S . Q3 gaap earnings per share $0.17 including items . Half of year results" . Did not include dilutive impact of shares of series B,C convertible participating preferred stock in calculation of earnings per share . Visa inc says fiscal q3 2016 service revenues were $1.6 billion, an increase of 6% over prior year . Cross-Border volume growth, on a constant dollar basis, was 5% for three months ended june 30, 2016 . Digit constant dollar eps growth . Visa inc sees fy 2016 client incentives as percent of gross revenue around 18.5 percent.  Full Article

Visa declares qtrly dividend of $0.14 per share
Tuesday, 19 Jul 2016 04:05pm EDT 

Visa Inc : Board of directors declared a quarterly cash dividend of $0.14 per share of class A common stock .Visa inc declares quarterly dividend.  Full Article

U.S. appeals court voids Visa and Mastercard antitrust settlement with merchants, decertifies class
Thursday, 30 Jun 2016 09:56am EDT 

: U.S. appeals court voids Visa and Mastercard antitrust settlement with merchants over credit card fees--ruling . 2nd U.S. circuit court of appeals also says lawsuit was not properly certified as a class action, and decertifies class action . The settlements had provided for up to $7.25 billion to go to some merchants, while other merchants would get injunctive relief . Court says the class eligible for injunctive relief was not adequately represented by its lawyers.  Full Article

Co-Operative Bank says to recognise 62 mln stg from Visa Inc-Visa Europe deal
Wednesday, 22 Jun 2016 05:14am EDT 

Co-operative Bank Plc : Confirmation of proceeds from sale of Visa Europe Limited to Visa Inc. . Co-Operative Bank Plc - Bank's preliminary share of sale proceeds was expected to comprise a mix of cash preferred stock, and contingent earn-out consideration . As confirmed in an announcement published by VI yesterday, this transaction has now closed . Overall gain which bank will recognise from this transaction in its 2016 interim financial report is approximately 62 million stg .Of which 51 mln stg was already recognised in capital resources as at 31 December 2015 within available for sale reserve..  Full Article

Caixabank closes Visa Europe stake sale with net gain of 115 mln euros
Wednesday, 22 Jun 2016 04:52am EDT 

Caixabank SA :Says Visa Inc buys Visa Europe, net capital gain for Caixabank of 115 million euros ($129.6 million) in Q2.  Full Article

Austria's RBI says positive effect of 97 mln eur from Visa Europe sale
Tuesday, 21 Jun 2016 03:11am EDT 

Raiffeisen Bank International Ag : Says expected positive effect from cash payment of transaction at closing on RBI's profit before tax will be eur 97 million . Says this should be booked under net income from financial investments in Q2 of 2016 . Says valuation of other two tranches will take place at end of June 2016 . Says cash component of transaction will have a slight positive effect (excluding taxes) on RBI's CET1 ratio . Visa Europe Ltd. was previously owned by its principal members, including nine units within the RBI Group Further company coverage: [RBIV.VI] ((vienna.newsroom@thomsonreuters.com; +43 1 53112 255;)).  Full Article

Visa Inc completes acquisition of Visa Europe
Tuesday, 21 Jun 2016 02:38am EDT 

Visa Inc : Visa inc completes acquisition of Visa Europe .Appointed Gary Hoffman, CEO of Hastings Group, as a board member of Visa Inc.  Full Article

Visa says to accelerate EMV chip migration and support merchants
Thursday, 16 Jun 2016 07:00am EDT 

Visa Inc : Says VISA to help accelerate EMV chip migration and support merchants . Says VISA is also exploring a system for acquirers to share certification test results with each other to avoid testing duplication . Will increase its investment to support both acquirers and value-added resellers (VARS) that develop software to power chip terminals .Streamlined testing requirements, simplified terminal certification process, committed to investing further resources that can reduce timeframes by as much as 50 percent.  Full Article

Israel Discount Bank Q2 profit boosted by one-time Visa share sale

JERUSALEM, Aug 15 Israel Discount Bank reported a 46 percent rise in quarterly net profit that beat expectations due to a one-time gain from the sale of shares in Visa Europe.