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Stocks In the Red, Bucked by Blackhawk

Stocks in the PYMNTS Index moved decidedly to the red, and only one name actually made gains of any significance, while others that wound up in the green did so by the thinnest of margins.

Blackhawk Network Holdings led the positive side of the column, with the gift card and payments firm reporting earnings mid week that bested the Street at 14 cents a share, better than the 10 cents that had been projected by analysts.  Guidance for the year was in range of the Street and cheered investors, with the stock holding gains to finish up nearly six percent for the week.  The transaction volume, as measured by dollars, said the firm, was up 100 percent, with EMV transitions in line with expectations. Blackhawk also said on its call that upcoming promotional launches will include closed loop cards across accounts such as Uber, Delta Airlines and Williams Sonoma.

Elsewhere, Euronet said it boosted its ATM footprint in the UK by acquiring YourCash, adding 5,000 ATMs to its network; though no purchase price was disclosed, the acquired firm has $32 million in sales and Euronet expands its platform into 21 countries.

Planet Payment led the declining issues in the week, off more than 11 percent, and with no company specific news in the period.  The firm is slated to report earnings at the beginning of next month.  USA Technologies and Diebold helped bring up the rear, down eight percent also on no headlines that would be deemed focused on that firm.

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