Square (SQ) is again seeking bank licensing. The company is interested in operating an industrial bank, which would allow it to expand its operations targeted at businesses.
Square announced earlier this month that it would start extending loans of up to $10,000 consumers as long as they are buying from merchants that use Square products or services.
On April 5, 2018, Mastercard (MA) made an announcement that from April 13 onward, all merchants in Canada and the United States would be able to eliminate the process of requiring signatures from cardholders.
In fiscal 2017, Visa’s (V) net operating revenue stood at $18.3 billion compared to $15 billion in fiscal 2016, reflecting a 22% rise YoY (year-over-year).
In February 2018, Discover Financial Services (DFS) was covered by 25 analysts, of whom nine suggested a “strong buy” and five recommended a “hold” on the stock.
Worldpay (WP) and Visa (V) said Bitcoin participants who have executed transactions on Coinbase through debit or credit card may have come across duplicate transactions.
American Express’s (AXP) PB (price-to-book) ratio on an NTM (next 12-month) basis is 3.92x compared to its peer average of 2.27x, which implies a premium valuation.
American Express’s (AXP) Global Commercial Services segment saw a substantial rise of 52% in net income, from $382 million in 4Q16 to $580 million in 4Q17.
American Express’s (AXP) International Consumer and Network Services segment saw a substantial rise in net income from $84 million in 4Q16 to $199 million in 4Q17.
American Express’s (AXP) US Consumer Services segment saw a significant 22% rise in net interest income, from $1.1 billion in 4Q16 to $1.3 billion in 4Q17.
In December 2017, American Express (AXP) is being tracked by 30 analysts. Five of them are suggesting a “strong buy” for the stock, and 16 are suggesting a “hold.”
The Global Commercial Services division of American Express (AXP) posted total revenues after the deduction of interest expenses of $7.6 billion in the first three quarters of 2017.
American Express’s (AXP) International Consumer and Network Services division saw a rise of 4% in its non-interest revenues in the first three quarters of 2017.
American Express’s (AXP) US Consumer Services division posted income of $1.3 billion in the first three quarters of 2017 compared to $2.1 billion in the same period of 2016.
In the first three quarters of 2017, American Express (AXP) posted total expenses of $17.1 billion compared to $15.7 billion during the same period of 2016.
American Express (AXP) posted total revenues of $22.71 billion in the first three quarters of 2017 compared to $22.70 billion in the first three quarters of 2016.
PayPal sells credit assets PayPal (PYPL) is seeking to sell $5.8 billion of its US credit assets to Synchrony Financial (SYF) to reduce its credit burden and increase its cash liquidity. Synchrony will buy participation interests worth $1 billion in PayPal receivables, which will allow PayPal to continue to provide consumer credit products without taking […]
Wells Fargo (WFC), Kraft Heinz (KHC), Apple (AAPL), Coca-Cola (KO), and Bank of America (BAC) were the top five holdings of Berkshire Hathaway’s portfolio in 3Q17.
In October 2017, Discover Financial Services (DFS) is being covered by 24 analysts. Of those, only one analyst has rated DFS a “strong sell,” and none of them have given it a “sell” rating.
Discover Financial Services’ (DFS) banking services have been ranked second in terms of customer satisfaction, according to a survey conducted by J.D. Power in August 2017.
PayPal (PYPL) is introducing a new cashback credit card. The digital payment company has teamed up with Synchrony Bank (SYF) to launch the PayPal Cashback Mastercard.
According to its 13F filings, Berkshire Hathaway’s portfolio value stood at $162 billion on June 30, 2017, representing a marginal decline from $163 billion in 1Q17.
Information technology, consumer discretionary, and healthcare make up the core holdings of VAFAX. These three make up a combined 77% of the fund’s assets.
GE Capital is the financial services unit of the American conglomerate General Electric (GE). It contributed ~9% to GE’s total consolidated revenue in 2015.
In April 2015, General Electric chair and CEO, Jeffrey Immelt, announced plans to downsize the financial services business to focus on its traditional industrial businesses.
General Electric completed its Synchrony Financial spin-off into a stand-alone entity in November 2015 as part of GE’s plan to exit its financial services.
GE Capital is the financial services unit of the American conglomerate General Electric. Its major products cater to GE-industry-focused financial services.
Originally incorporated in 1892, General Electric is one of the largest and most diversified industrials and financial services corporations in the world.
GE Capital’s commercial lending and leasing rose 4% on a YoY basis. The energy finance business saw an 86% fall in revenues due to a weak investment environment in the energy sector.
General Electric (GE) completed its Synchrony spin-off into a stand-alone entity in November 2015. It was part of GE’s plan to exit most of its financial services (XLF) businesses by 2018.
GE’s 4Q15 earnings were largely in line with market expectations. Its industrial revenue and profits fell YoY 1% and 8%, respectively, disappointing Wall Street.
GE reported a $63.2 billion investment in General Electric Capital Corporation. Its asset sales may further improve GE’s balance sheet and credit metrics.
GE’s 3Q15 earnings carry a special significance. GE is undergoing a transformation to substantially reduce its dependence on the financial services business
Investment-grade (AGG) issuance had slowed in July, mid-way through the earnings season. The week ending August 1, saw the lowest weekly issuance in 2014, with ~$7.75 billion issued in the primary market.
