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Search resuls for: "Stephanie Ferris"


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☆ Here are Wednesday's biggest analyst calls: Nvidia, Tesla, Super Micro, Coinbase, Apple, Microsoft, Rivian & more
  + stars: | 2024-03-13 | by ( Michael Bloom | ) www.cnbc.com   time to read: +9 min
"We are initiating coverage of Legend Biotech (LEGN) with an Outperform rating and a price target of $86." Bank of America reiterates Super Micro as buy Bank of America raised its price target on Super Micro to $1,280 per share from $1,040. The firm has an outperform rating on shares of Boeing. We Initiate with a Buy rating and $15 PT." "We initiate coverage of IMVT with a Buy rating and 12-month price target of $50 (60% upside potential)."
Persons: Raymond James, it's, Wells, Tesla, Davidson, Goldman Sachs, Goldman, Baird, Bernstein, TXRH, EBITDA, Jefferies, underperform Jefferies, Baird downgrades Fiserv, Stephanie Ferris, Charles Drucker, helms, Cooper, William Blair, BTIG, Bitdeer, JMP, Morgan Stanley, Idacorp, Rivian Organizations: Biotech, Legend Biotech, Citi, Constellation Brands Citi, Constellation, Watch, Nielsen, DA, " Bank of America, Bank of America, Nvidia, GPU Tech Conference, TAM, Royal Caribbean, Boeing, Apple, Moelis, Company, RBC, Pointe, GM, Microsoft, ROIC, Jefferies, FIS, JPMorgan, Cooper Companies, Bitdeer Technologies, Technology, ICE, of America, Argus Locations: Nice, Texas, Cleveland, Southwest, Kansas, Missouri
☆ Fintech giant’s bad wedding leads to happy divorce
  + stars: | 2023-02-14 | by ( Anita Ramaswamy | ) www.reuters.com   time to read: +3 min
NEW YORK, Feb 14 (Reuters Breakingviews) - Many mergers fail, but executives are rarely humble enough to admit it. They have a point – FIS paid $3 billion more for Worldpay than the combined companies’ market value today. These are worlds apart from the staid financial institutions which patronize FIS’s core software business. As a stand-alone company the payments firm could also borrow more to fuel future purchases without imperiling its former parent’s credit rating. FIS also announced a $17.6 billion writedown on the value of the business and lowered its profit guidance for 2023.
☆ FIS takes $17.6 billion hit in merchant unit to be spun off
  + stars: | 2023-02-13 | by ( Niket Nishant Anirban Sen Milana Vinn | Niket Nishant | Anirban Sen | ) www.reuters.com   time to read: +3 min
Feb 13 (Reuters) - Banking and payments processing conglomerate Fidelity National Information Services Inc (FIS.N) took a $17.6 billion write-down on its merchant business as it unveiled plans on Monday to spin it off, undoing a $43 billion acquisition that went sour. FIS built its merchant business, which processes transactions for companies, on the back of its $43 billion purchase of WorldPay four years ago. "The pace of disruption in payments is rapidly accelerating, requiring increased investment in growth and a different capital allocation strategy for our merchant solutions business," FIS Chairman Jeffrey Goldstein said in a statement. Charles Drucker, the former CEO of Worldpay, will lead the merchants business after it is spun out, FIS said. Merchant solutions makes up about 30% of FIS' revenue, while its banking solutions arm constitutes about 46%, and capital market solutions the remainder.
☆ Fidelity National agrees review, adds director after D.E. Shaw pressure
  + stars: | 2022-12-15 | by ( Svea Herbst-Bayliss | ) www.reuters.com   time to read: +2 min
NEW YORK, Dec 15 (Reuters) - Fidelity National Information Services (FIS.N) said on Thursday that it will undertake a strategic review and add a new director to its board after pressure from hedge fund D.E. Ferris and the board will lead the review which will evaluate the company's business structures and portfolio of assets as well as focus on cutting costs and improving margins. Ferris had been FIS president where she led the integration of Worldpay and steered the company's global business strategy. FIS said on Thursday it had now appointed Jeffrey Goldstein, currently lead independent director, as independent chairman instead. Shaw's calls for a strategic review that could help boost the share price, the company said.
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