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Moshe Katri - 2 Booz Allen Hamilton - 1 Booz Allen - 1 Robinhood - 1 FactSet - 1 Katri - 1 LSEG - 1 — - 1
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☆ Stocks making the biggest moves midday: Workday, Lucid, Toast, Deckers and more
  + stars: | 2024-05-24 | by ( Pia Singh | ) www.cnbc.com   time to read: +2 min
Ross Stores posted earnings of $1.46 per share on $4.86 billion in revenue. Revenue came out at $2.77 billion, slightly higher than analysts' forecast of $2.72 billion. Intuit forecast adjusted earnings of $1.80 per share to $1.85 per share, while analysts polled by FactSet expected $1.92 per share. Toast — Shares of the financial tech company, which specializes in point-of-sale products for restaurants, gained nearly 1%. Workday forecast subscription revenue of $1.895 billion, while the consensus forecast called for $1.9 billion, per StreetAccount.
Persons: Booz Allen Hamilton, Booz Allen, Robinhood, FactSet, Moshe Katri, Katri, LSEG, —, Jesse Pound, Tanaya Macheel, Alex Harring, Samantha Subin Organizations: Ross Stores, Ross, LSEG, Revenue, U.S . Securities, Exchange Commission, Intuit —, Intuit, Food and Drug Administration
☆ Wedbush reiterates bullish view on Visa, raises price target to $280
  + stars: | 2024-01-26 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWedbush reiterates bullish view on Visa, raises price target to $280Moshe Katri of Wedbush Securities explains his price target revision for Visa.
Persons: Wedbush, Moshe Katri Organizations: Wedbush Securities, Visa
☆ Block investors may seek clarity on Cash App after Hindenburg report
  + stars: | 2023-05-03 | by ( Manya Saini | Thomson Reuters | Manya Saini Reports On Prominent Publicly Listed U.S. Financial Firms Including Wall Street S Biggest Banks | ) www.reuters.com   time to read: +3 min
May 3 (Reuters) - Jack Dorsey-led Block Inc's (SQ.N) first-quarter results will likely see investors zoom in on the payments firm's Cash App business following U.S. short-seller Hindenburg Research's allegations including inflated user count. Morgan Stanley analysts in April said that some bearish investors remain uncertain about the amount of gross profit that is generated by "potential illicit activity" on the Cash App platform. "Eventually, bears suspect a meaningful amount of gross profit might come under pressure if regulators crack down on Cash App, and also think this makes it hard to accept that Cash App can be a legitimate, trusted bank in the long-term," they added. Block has touted Cash App as an alternative to traditional banking services. Cash App reported 51 million monthly active customers as of Dec. 31, of which 44 million were verified.
☆ Short-seller Hindenburg's report on Block: We're not seeing anything illegal, investment firm says
  + stars: | 2023-03-24 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShort-seller Hindenburg's report on Block: We're not seeing anything illegal, investment firm saysMoshe Katri of Wedbush Securities discusses short-seller Hindenburg's short position on Jack Dorsey's payments firm Block and says it's a "legitimate player in the space."
☆ Visa Finance Chief Vasant Prabhu to Depart in September
  + stars: | 2023-02-16 | by ( Mark Maurer | ) www.wsj.com   time to read: +2 min
Visa Inc. said its chief financial officer, Vasant Prabhu, is stepping down as the payments giant works to continue growing certain merchant services and making acquisitions. Mr. Prabhu will leave Visa on Sept. 30, the San Francisco-based company said Thursday. Mr. Prabhu, who also served as vice chair, will assist Visa with the search for and onboarding of his successor before stepping down from his role, the company said. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Visa in January reported $7.94 billion in revenue for the quarter ended Dec. 31, up 12.4% from the prior-year period.
☆ Payments firm PayPal to lay off 7% of its workforce to cut costs
  + stars: | 2023-01-31 | by ( Manya Saini | ) www.reuters.com   time to read: +2 min
Jan 31 (Reuters) - PayPal Holdings Inc (PYPL.O) said on Tuesday it is planning to cut 7% of its workforce, or about 2,000 employees, the latest in a list of fintech firms to be hit by the economic slowdown. The payments firm also joins Big Tech firms and Wall Street titans, which are executing layoffs across corporate America as companies look to rein in costs to ride out the downturn. Shares of the payments firm, which lost about 60% of their value last year, were up about 2% in afternoon trading. "Similar to other tech companies, PayPal is seeking to position itself financially and strategically, bracing for an economic slowdown," said Moshe Katri, analyst at Wedbush. In November, PayPal had cut its annual revenue growth forecast in anticipation of a broader economic downturn and said it did not expect much growth in its U.S. e-commerce business in the holiday quarter.
☆ U.S. card firms' growth to moderate as luxury buying falters
  + stars: | 2023-01-24 | by ( Manya Saini Niket Nishant | Manya Saini | Niket Nishant | ) www.reuters.com   time to read: +3 min
[1/2] Credit card is seen in front of displayed Visa logo in this illustration taken, July 15, 2021. REUTERS/Dado Ruvic/IllustrationJan 24 (Reuters) - U.S. card companies are expected to post the slowest revenue growth in seven quarters, as consumers tighten their purse strings and avoid spending on luxury and big-ticket items. Card firms pocket a small percentage of the dollar value of transactions and stand to lose out on fees if customers pivot away from buying luxury items. Shares in Visa, Mastercard and Amex closed last year between 3% and 10% lower. Mastercard and Visa are set to report quarterly results on Thursday, with AmEx rounding off the season on Friday.
☆ Visa, Mastercard profits expected to jump as travel rebounds
  + stars: | 2022-10-20 | by ( Niket Nishant | ) www.reuters.com   time to read: +3 min
With more companies resuming business travel and people planning vacations, Visa Inc (<V.N>), Mastercard (<MA.N>) and American Express (<AXP.N>) are likely to see a jump in cross border volume, according to analysts. Cross border volumes are a measure of travel demand reflecting spending on cards outside the country they were issued. American Airlines (<AAL.O>), United Airlines Holdings (<UAL.O>) and Delta Air Lines (<DAL.N>) have also forecast strong profits for the rest of the year, in a sign that travel demand was offsetting concerns about expensive air fares. American Express will report its quarterly earnings on Friday, followed by Visa and Mastercard next week. AmEx shares have dropped 12%, while Mastercard and Visa are down 17% and 14% this year, respectively.
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