Shares of NCR stock took a tumble last week after the Wall Street Journal reported the company was doing business in Syria, allegations that if true would put the company in violation of U.S. sanctions.
Later in the week, NCR told Reuters that it had “ceased operations in Syria” following the Journal’s report, and described the business it had done in that country as “commercially insignificant.”
Unfortunately the impact on its stock price was far from insignificant, as shares fell more than 11 percent in value over five days, leading to a loss of $450 million in market capitalization.
Global Payments also had a down week — its price likely suffering a temporary impact from a dividend payout on Wednesday. But the company also made a big announcement on the week, spending $413 million in cash to acquire Accelerated Payment Technologies. Investors were apparently not impressed, however, as shares were down nearly five percent to just under $41, and near its 52-week low of $38.26.
Network stocks were mixed: AXP shares rose 3.12 percent, and DFS was up 2.52 percent, while MA saw muted growth at 0.18 percent, and V fell 0.31 percent.
| |
All Payments |
Bank Payment |
Network |
Acquirer/
Processor |
POS Equipment/
Software |
Prepaid Issuer |
Remittance |
| Closing |
123.96 |
101.38 |
168.59 |
120.41 |
113.15 |
40.15 |
94.56 |
| Weekly Gain (#) |
1.10 |
1.00 |
2.04 |
0.68 |
-4.83 |
0.92 |
0.18 |
| Weekly Gain (%) |
0.90% |
1.00% |
1.22% |
0.57% |
-4.09% |
2.34% |
0.19% |
