Heartland, NetSpend, MasterCard, TNS Each Post In Big Earnings Week
Updated earnings statements from some of the biggest companies in payments led to a wild week on the market.
Heartland Payment Systems’ shares were up roughly four percent over five days, as the company posted an earnings per share of $0.44 for the second quarter, three cents higher than analysts had been expecting. On Tuesday, the day earnings were first announced, its share price was up more than seven percent.
NetSpend Holdings also beat expectations with its latest earnings release, leading to a three percent gain for the week and a gain of more than eight percent on Friday alone.
In a vacuum, Green Dot Corp. enjoyed a great week, its stock up more than 10 percent in value over five days, to a closing price of roughly $10 on Friday. But one strong week is little consolation for investors who have owned shares since before July 27, when shares went from a prior close of $23.32 to $9.06 in one day. The stock is now down nearly 73 percent from its 52-week high.
Also among the big gainers was NCR Corp., which renewed investor confidence by tying up a loose end related to its pension plan. The account had been known to be underfunded by $800 million, but the company says it has offered some employees a lump-sum option to reduce that liability, and can afford to make contributions of its own to further address the imbalance. Shares were up nearly six percent on the week, including a jump from just above $23 at Tuesday’s close to $24.74 at the end of trading on Wednesday.
On the losing side, MasterCard saw its shares fall by nearly three percent on the week. Despite beating expectations on earnings, the company missed its expected revenue mark by $90 million according to its Wednesday financial release, leading to a price of $424.13 at Friday’s close.
TNS Inc. also missed revenue expectations, ending the week down more than seven percent.
|All Payments||Bank Payment||Network||Acquirer/
|Weekly Gain (#)||-0.92||-0.69||-1.29||-2.70||2.47||1.83||-1.71|
|Weekly Gain (%)||-0.74%||-0.68%||-0.76%||-2.20%||2.06%||5.01%||-1.82%|
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