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Fidelity National Information Services is buying Worldpay for about $35 billion. As Fred Katayama reports, it's the biggest deal ever in the fast-consolidating world of electronic payments.
US Rail Traffic: Downtrend Continued for the Seventh Week(Continued from Prior Part)Rail trafficCanadian National Railway (CNI) reported a 3.6% YoY (year-over-year) decline in its total traffic volume in week 10. The company moved 110,085
Several analysts cut their recommendations on Worldpay, including BMO, Cowen, KeyBanc, KBW, and Mizuho. With a market cap of about $70 billion, FIS-plus-Worldpay will be one of the largest global payments players, trailing only Visa Inc., Mastercard Inc., PayPal Holdings Inc., and American Express Co., MoffettNathanson’s Lisa Ellis writes in a note.
US Rail Traffic: Downtrend Continued for the Seventh Week(Continued from Prior Part)Rail traffic Canadian Pacific Railway (CP) registered a 7.7% YoY (year-over-year) decline in its total rail traffic in week 10. The company carried 48,329
The financial technology sector is consolidating fast, with global payments set to reach $3 trillion a year in revenue by 2023 as more people switch from cash to digital payments for online and high street sales, consulting firm McKinsey predicts. "Scale matters in our rapidly changing industry," said FIS Chief Executive Gary Norcross, who will lead the combined powerhouse in banking and payments infrastructure. Growth in payment systems has kept deals rolling even as merger moves in other sectors have stalled on concerns about trade tensions and a global economic slowdown.
Amazon Is Capitalizing on These Key Advantages(Continued from Prior Part)Prime to reach over half of American households Amazon (AMZN) looks to be on track to reach a market penetration milestone with its Prime membership program this year. According
Fidelity National Information Services Inc.’s $35.5 billion deal to acquire Worldpay Inc., the biggest deal ever in the international payments sector, follows by just two months the previous record-holder -- Fiserv Inc.’s agreement in January to pay $22 billion for First Data Corp. Dealmaking is accelerating as payments companies snap up rivals to grab market share, with investors wondering which firms might be next. Global Payments Inc. and Total System Services Inc. were among stocks that gained in early trading Monday, but dropped by midday.
US Rail Traffic: Downtrend Continued for the Seventh Week(Continued from Prior Part)Lower rail traffic The weakness in Union Pacific’s (UNP) rail traffic continued for the sixth straight week. The company recorded an 8.2% YoY (year-over-year)
Fidelity National Information Services Inc. (FIS) and Worldpay Inc. pared earlier gains in Monday trading, as analysts question FIS’s pact to acquire Worldpay Inc. for about $34 billion in cash and stock, worth about $112.12 per share as of Friday’s close. Analysts wondered why Worldpay agreed to be bought at that price, instead of trying to get more […] The post $34 Billion Purchase of Worldpay May Shake Up Travel Payments appeared first on Skift.
Merger activity in the payments business is starting to look a bit frantic. While the latest $35 billion tie-up has some logic, justifying its high price will require delivering on an ambitious strategy to expand into developing markets. , a Florida-based provider of data and technology services to banks and other financial intuitions, said Monday it is acquiring payment-processing giant Worldpay Inc. for $35 billion.
US Rail Traffic: Downtrend Continued for the Seventh Week(Continued from Prior Part)Rail traffic growth In week 10, Kansas City Southern’s (KSU) rail traffic growth continued for the third straight week after falling for six weeks. The company
Fidelity (FIS) announces to buy 53% ownership in Worldpay via a stock-cash deal, in a bid to boost its revenue growth prospects.
US Rail Traffic: Downtrend Continued for the Seventh WeekWeakness continued for the seventh week US railroad companies’ rail traffic volumes fell 4.7% YoY (year-over-year) in week 10. On March 13, the Association of American Railroads reported that
The deal would create a global giant in payments and back-office financial services in a bid to reach more customers as transactions move increasingly online. The deal marks one of the biggest transactions in the fast-consolidating payments sector that is under pressure to cut costs, develop new products and add customers. In 2017, Worldpay Group PLC, the predecessor company of Worldpay, was itself acquired by U.S. rival Vantiv Inc. for £8 billion ($10.6 billion).
The biggest-ever deal in the payments industry broke at the crack of dawn when Fidelity National Information Services agreed to buy Worldpay for about $34 billion in cash and stock, sending Worldpay’s shares up 10% pre-market. Exxon Mobil may be volatile Monday after America’s third-largest refinery caught fire in Texas. Hedge funds Knighthead Capital Management LLC, Redwood Capital Management and Abrams Capital Management said in a filing late Friday that they united to press PG&E for a leadership change.
Fidelity National Information Services Inc. is paying a heady $34 billion plus for Worldpay Inc. not much more than a year after the rival payments processing company bulked up with an expensive takeover of its own. FIS has broader reach and wants to deploy Worldpay’s technology and services in markets that the target doesn’t already dominate. FIS’s cash-and-shares offer is worth $112 per Worldpay share based on its March 15 closing price.
European stocks rose for the fourth session in a row on Monday as a flurry of dealmaking, including merger talks between Deutsche Bank and Commerzbank , spurred gains in the financial services sector. DWS shares jumped 9 percent to their highest since May.
Nexi plans to issue a mix of existing and new shares by the end of April, it said in a statement Monday. A representative for Nexi declined to comment. Nexi investors Advent International, Bain Capital and Clessidra SGR are seeking to raise as much as 2 billion euros by selling a portion of their holdings, the people said.
Fidelity National Information Services Inc (FIS) said on Monday it has agreed to buy Worldpay for about $35 billion, with the U.S. financial services provider striking the biggest deal to date in the fast-growing electronic payments industry. The financial technology sector is consolidating fast, with global payments set to reach $3 trillion a year in revenue by 2023 as more people switch from cash to digital payments for online and high street sales, consulting firm McKinsey predicts.
U.S. fintech group Fidelity National Information Services Inc has agreed to buy payment processor Worldpay for about $35 billion, as it looks to bulk up in a lucrative yet rapidly changing industry. The deal comes two years after U.S. credit card processing company Vantiv merged with Worldpay in a $10.63 billion deal. Worldpay shareholders will receive 0.9287 FIS shares and $11 in cash for each share held, valuing the company at $112.12 per share - a premium of about 14 percent based on the stocks' Friday closing, according to Reuters calculations.
Financial services technology group FIS said it will buy e-commerce and payments group Worldpay in a cash and stock deal that values the latter at $43 billion.