V - Visa Inc.
| Previous close | 182.01 |
| Open | 181.66 |
| Bid | 182.71 x 800 |
| Ask | 0.00 x 1100 |
| Day's range | 180.83 - 183.33 |
| 52-week range | 121.60 - 187.05 |
| Volume | 6977886 |
| Avg. volume | 7,486,546 |
| Market cap | 406B |
| Beta (5Y Monthly) | 0.93 |
| PE ratio (TTM) | 34.35 |
| EPS (TTM) | 5.32 |
| Earnings date | 28 Jan 2020 - 3 Feb 2020 |
| Forward dividend & yield | 1.20 (0.66%) |
| Ex-dividend date | 2019-11-14 |
| 1y target est | 202.94 |
- Bloomberg
WeWork Sells Conductor Unit Back to the Founder
(Bloomberg) -- The embattled co-working company WeWork completed the first of what it hopes will be a series of asset sales by finding a buyer for Conductor, a unit that makes marketing software used by Visa Inc. and Samsung Electronics Co.Seth Besmertnik, who co-founded Conductor before selling it to his college classmate Adam Neumann, will stay on as chief executive officer of the newly independent entity, the companies plan to announce Thursday. Besmertnik and other investors will contribute $15 million to fund operations and grant Conductor’s 250 or so employees majority ownership of the business through founder-class stock. Conductor and WeWork declined to disclose terms of the sale.For WeWork, selling off side businesses and turning attention back to co-working is a primary element of the turnaround plan set by the company’s new management. In October, SoftBank Group Corp. agreed to take a majority stake in WeWork, after a failed initial public offering put the company in danger of running out of money and cost Neumann the CEO job. SoftBank helped bring in new leaders, who are eliminating 2,400 jobs. WeWork is in talks to sell another business, Managed by Q, to a group of investors that includes the co-founder of that startup. And WeWork said Thursday that it’s shuttering a unit called Spacious that it acquired less than four months ago.Recent events have weighed heavily on morale inside WeWork. Conductor executives hope the new employee stock plan will raise spirits. In addition to holding a majority of stockholder votes, staff will be asked to elect a representative to the board. “This will ensure, in the long term, the company is always acting in the best interest of all the shareholders and that the employees have access to information about how we’re running the company,” Besmertnik said.Besmertnik helped start Conductor in 2010, eventually amassing more than 400 customers using its software to design marketing campaigns and optimize websites for search engines. Conductor had raised more than $60 million in venture funding, a laudable figure for a corporate software company but far from the more than $12 billion Neumann took in for WeWork.Investors had entrusted Neumann to build a global empire of office space for rent. WeWork’s valuation kept climbing, and Neumann seemed to be unstoppable. WeWork paid $126 million, not including performance bonuses, for Conductor last year. The deal would give Conductor cash to invest in research and development and double the size of that team. In return, Neumann gained a new channel of communication with Citigroup Inc., Salesforce.com Inc. and other Conductor customers right as WeWork was trying to recruit larger companies, which made up 25% of its membership at the time.The deal also reunited Besmertnik with Neumann, nearly two decades after they met as students at Baruch College in New York City. Both men dropped out to pursue business careers before returning later to earn degrees. Onstage at an industry conference a month after the acquisition, Besmertnik embraced Neumann, who greeted Conductor employees as family. “Welcome home,” Neumann said.Besmertnik said that while WeWork’s meltdown has been hard on the Conductor team, he’s grateful to have been a part of the company. Artie Minson, one of two men who replaced Neumann as CEO, praised Besmertnik in an emailed statement and said the divestiture is “a positive step forward for both WeWork and Conductor.” The buyout was partly financed by Besmertnik, along with Selina Eizik, the chief operating officer at Conductor, and Jason Finger, a founder of the Grubhub Inc.-owned food delivery app Seamless.Speaking from his New York office, which is lined with action figures and features a whiteboard covered in inspirational quotes (“The world is a reflection of you.”), Besmertnik said he’s focused on enforcing a strong company culture and a “people-first approach.” He hopes the new stock ownership program for employees sets an example for other businesses to follow, he said: “I’ve always felt the system wasn’t fair. If there happens to be a new CEO or a new board that doesn’t have the same willingness to fight for the people, employees stand to get the short end of the stick.”(Updates with Spacious closure in the third paragraph.)To contact the author of this story: Candy Cheng in San Francisco at ccheng86@bloomberg.netTo contact the editor responsible for this story: Mark Milian at mmilian@bloomberg.net, Anne VanderMeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
Visa Collaborates With MFS Africa to Expand Digital Payments
Visa (V) teams up with MFS Africa to focus on creating new digital pathways among mobile money users in Africa.
- Zacks
Visa (V) Stock Sinks As Market Gains: What You Should Know
Visa (V) closed at $182.01 in the latest trading session, marking a -0.14% move from the prior day.
- Business Wire
Visa and MFS Africa Bring Digital Payments to More Consumers and Businesses Across Africa
Visa (NYSE: V) and the pan-African fintech leader MFS Africa today announced a partnership that will help bridge the gap between the rapidly growing mobile money ecosystem in Africa and the world of online digital payments, significantly expanding Visa’s reach and its ability to open up commerce to the region.
- Business Wire
Visa and Global Partners Expand Access to Cross-Border Payments for Consumers and SMBs
In today’s connected world, moving money for consumers and businesses should be as simple and routine as sending a text message. Yet, in many cases, consumers and businesses still rely on manual, paper-based processes, high fees and cash to send money to friends, families and business partners. Through Visa Direct, a real-time1 push payment solution that has processed 2 billion transactions2 in the past year, Visa is working with partners and clients around the world to simplify, digitize and drive costs down in the rapidly-growing3 remittances space.
- Business Wire
Visa to Launch New Certification Program to Support Payment Industry Professional Development
Visa Inc. (NYSE: V) today announced plans to launch a new certification program and fund up to 500 scholarships, available to qualified applicants, that can be used toward obtaining this new professional certification. Visa’s new certification program is designed to train individuals as dispute resolution professionals, a role that is currently in high demand across the payments ecosystem.
- Reuters - UK Focus
UPDATE 1-UK regulators call time on lengthy glitches in banking services
Regulators made proposals on Thursday to strengthen the ability of banks and payment firms in Britain to cope with major incidents and maintain key services with minimum interruption. The Bank of England and the Financial Conduct Authority have proposed that banks, insurers, investment firms, exchanges and financial market infrastructure (FMIs) firms like Visa that make payments possible, set "impact tolerances" for important services. Firms themselves would quantify the maximum level of disruption they would tolerate in terms of time, volume of business or number of customers affected.
- Zacks
The Zacks Analyst Blog Highlights: Visa, AT&T, Coca-Cola, American Express and Kimberly-Clark
The Zacks Analyst Blog Highlights: Visa, AT&T, Coca-Cola, American Express and Kimberly-Clark
- Zacks
Top Research Reports for Visa, AT&T & Coca-Cola
Top Research Reports for Visa, AT&T; & Coca-Cola
- TEST Business Wire Releases
NovoPayment and Visa Expand Strategic Partnership in Latin America and the Caribbean
FINNOSUMMIT -- NovoPayment, a Banking-as-a-Service platform category leader, and Visa Inc., the world’s leader in digital payments, today announced an expansion of their strategic partnership to enable financial institutions and merchants to deploy Visa’s digital solutions in Latin America and the Caribbean. Visa has also made a strategic investment in NovoPayment.
- Reuters - UK Focus
Africa-focused lender Bayport explores $800 mln London listing - sources
LONDON/JOHANNESBURG, Nov 29(Reuters) - Bayport Management, an African consumer lending company, is considering a London listing in the first half of 2020 that could value it at around $800 million, three sources familiar with matter said. Bayport, which provides loans primarily to government employees, has hired Citi, JP Morgan and Standard Bank as joint global coordinators for the deal, two of the sources said. The company, founded in 2002 by co-chief executives Stuart Stone and Grant Kurland, is also active in insurance.
- Zacks
Mastercard and PayPal Expand Instant Money Transfer Service
Mastercard (MA) expands its Mastercard Send service for fast money transfer to Singapore and parts of Europe.
- Zacks
How Do Stocks Trade Around Thanksgiving?
The two-day trading period around Thanksgiving???the Wednesday before and the Friday after???has traditionally been strong for stocks.
- Yahoo Finance
These cities top the list of most expensive airports in the US
The travel website recently compiled the most expensive and affordable airports in all 50 states, and ranked Newark Liberty International Airport at the top of the pricey list.
- Business Wire
Visa Inc. to Participate in Upcoming Investor Conference
Visa Inc. today announced its participation in the following investor conference.
- Zacks
Dow Tops 28,000: 7 Hot Stocks Behind the Rally
The dual tailwinds of renewed trade optimism and stronger-than-expected corporate earnings drove the rally. The bullishness was further fueled by rate cuts by the Federal Reserve.
- Simply Wall St.
Calculating The Fair Value Of Visa Inc. (NYSE:V)
In this article we are going to estimate the intrinsic value of Visa Inc. (NYSE:V) by taking the foreast future cash...
- Business Wire
Visa Inc. Announces Appointment of Ramon L. Laguarta to its Board of Directors
Visa Inc.'s (NYSE:V) board of directors announced today that on November 13, 2019, it appointed Ramon L. Laguarta to the Board, effective November 20, 2019, for a term that will expire at the Company’s 2020 Annual Meeting of Stockholders. Mr. Laguarta has served as PepsiCo, Inc.’s CEO and a director since October 2018, and assumed the role of chairman of the board in February 2019. Mr. Laguarta is a strong global leader with extensive consumer products experience gained from 20-plus years of senior operational and executive roles at PepsiCo, both internationally and in the U.S. Upon becoming CEO, he heightened the company’s focus on accelerated, sustainable growth and further pushed purpose to the center of its business strategy and brands.
- Reuters
Visa, Mastercard draw FTC inquiry over debit card transactions: Bloomberg Law
The regulator is looking into whether Visa, Mastercard and other large debit card issuers are blocking retailers from routing card transactions over alternative networks such as Pulse, NYCE and Star, the report said. The FTC has been reaching out to large merchants and their trade groups over the issue, the report added.
- Reuters
Visa, Mastercard draw FTC inquiry over debit card transactions - Bloomberg Law
The regulator is looking into whether Visa, Mastercard and other large debit card issuers are blocking retailers from routing card transactions over alternative networks such as Pulse, NYCE and Star, the report said. The FTC has been reaching out to large merchants and their trade groups over the issue, the report added.
- Business Wire
Visa Introduces Team Visa Roster Ahead of the Olympic and Paralympic Games Tokyo 2020
30+ Olympic and Paralympic hopefuls descend upon San Francisco today for the Team Visa Summit
- Reuters - UK Focus
Revolut plans to raise $500 mln next year to fund global expansion
British-based digital banking app Revolut is in talks with investors to raise at least $500 million next year to fund a global hiring spree as it expands in markets including the United States and Japan. "We want to raise at least $500 million in direct equity and potentially, maybe at a later stage, up to $1 billion in convertible (debt)," its CEO and co-founder Nikolay Storonsky told Reuters in an interview on Tuesday. "We have done soft marketing with investors and we are continuing doing it, so hopefully in the next several months, we'll get it done," Storonsky said of the fund raising.
