DIRS.INFO The most relevant business & tech news

☆ Fiserv CEO Frank Bisignano: On the front end, financial institutions are not slowing down spending
▼ + stars: | 2023-07-26 | 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 EmailFiserv CEO Frank Bisignano: On the front end, financial institutions are not slowing down spendingFiserv CEO Frank Bisignano joins 'Squawk on the Street' to discuss moderating consumer spending, Fiserv's Q2 earnings takeaways, and financial institutions investing in fintech.

Persons: Frank Bisignano Locations: fintech

☆ Payments firm Fiserv forecasts strong annual profit
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Fiserv (FI.N) on Wednesday raised its full-year adjusted profit outlook above Wall Street expectations as the financial services company reported second-quarter results ahead of estimates. Fiserv reported a 9% growth in its acceptance segment and 8% growth in the payments unit for the three months ended June 30. "We delivered our ninth consecutive quarter of double-digit organic revenue growth, as we sustained our momentum in merchant acceptance and expanded our digital payments," CEO Frank Bisignano said. The world's largest payments processor Visa (V.N) on Tuesday forecast annual results in line with Wall Street estimates. The company's total revenue rose nearly 7% to $4.76 billion.

Persons: Fiserv, Frank Bisignano, Manya Saini, Shounak Dasgupta Organizations: Wall, Thomson Locations: Bengaluru

☆ Morning Bid: Tech splits, banks merge and Fed decides
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +5 min

Unlucky for some perhaps, but a 13th today would make it the longest winning streak for the Dow since 1987. Meta Platforms (META.O) is up next after Wednesday's closing bell and its share rose 2%. Wells Fargo (WFC.N), meantime, climbed 2.8% after the bank's board authorized a new $30 billion share buyback program. The Fed decision comes in the wake of another set of forecast-beating U.S. consumer confidence readings for July. Elsewhere, the European earnings season was in full swing too, with banks dominating the diary and the European Central Bank meeting tomorrow.

Persons: Mike Dolan, Dow Jones, Wells Fargo, Kazuo Ueda, Jerome Powell, Molina, Rollins, Edwards, John Stonestreet Organizations: Microsoft, Dow, Netflix, Google, Federal Trade Commission, European Central Bank, Deutsche Bank, Bank of Japan, HK, . Federal, eBay, Boeing, General Dynamics, Seagate, Union Pacific, CME, Hilton Worldwide, Lam Research, Water Works, United Rentals, Otis, Treasury, Reuters, Reuters Graphics Reuters, Thomson Locations: U.S, Wall, Nasdaq, California, Lam, Everest

☆ Fundstrat's Tom Lee shares his S&P 500 target for 2024 and names stocks to buy
▼ + stars: | 2023-06-16 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The S & P 500 has further upside going into next year, predicts Tom Lee, managing partner of Fundstrat Global Advisors. Lee said he believes that comments from the U.S. Federal Reserve meeting this week are giving stocks the "green light" to rally further. "Whenever you are at a turning point for earnings, that's really when you want to be long cyclicals and essentially risk-on sectors," Lee said. I think that's why … it's a green light for stocks to continue to rally." In a separate June 14 report, Lee said he would "buy the dip on a hawkish pause" and "buy a 5% pullback in stocks."

Persons: Tom Lee, Lee, that's, Powell, he's Organizations: Fundstrat Global Advisors, U.S . Federal Reserve, Fed, BofA, Survey, Microsoft, Nvidia, ExxonMobil, Occidental Petroleum, American Express, Apple

Despite the uncertain macroeconomic backdrop the market faces, some companies have been able to buy back their shares without relying heavily on debt to finance the purchases. PYPL YTD mountain Shares of PayPal are under pressure this year with a decline of more than 15%. MPC YTD mountain Marathon shares are down roughly 8% from the start of 2023. Meta shares have been on fire this year as the company focuses on efficiency, rallying more than 100%. META YTD mountain Meta stock in 2023

☆ Tom Lee highlights the top picks in his market-beating portfolio
▼ + stars: | 2023-05-24 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Fundstrat Global Advisors founder Tom Lee highlighted five must-own stocks from his Granny Shots portfolio, which has beaten the market for roughly five years running. The Granny Shots portfolio is a distillation of more than 30 of Fundstrat's best stock ideas. This year, Granny Shots is 8.3% higher, better than the S & P 500's 7.4% gain. On Tuesday, however, Lee introduced Super Grannies for investors who are wondering which stocks to buy first in his Granny Shots portfolio. "At present, it looks likely that FTNT might show some slowdown or stall briefly in June if/when this reached former peaks," Newton wrote.

Persons: Tom Lee, Granny, that's, Lee, Fortinet, Fundstrat's Mark Newton, Newton, it's Organizations: Fundstrat Global, Granny, Beverage, Semiconductor

☆ ValueAct adds a streaming play to its portfolio
▼ + stars: | 2023-05-16 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Mason Morfit's ValueAct Capital Management picked up Spotify last quarter as the music streaming giant rebounded off its 2022 selloff. The ValueAct CEO added about 2.25 million shares to the portfolio. Spotify has surged nearly 70% in the first quarter, regaining ground after dropping 66.3% in 2022. SPOT YTD mountain Spotify YTD It was Morfit's only new position in the quarter, but he grew Salesforce by a whopping 500%, while Insight Enterprises got a relatively modest 2% boost. Similarly, KKR came in at the second biggest holding in the portfolio despite the more than 13% trim.

☆ Fintech Finix is now a payments processor. The startup's CEO details how it wants to upend the industry and take on industry giants like Fiserv and FIS.
▼ + stars: | 2023-05-04 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

Finix is now a payments processor, Insider has learned. The financial-technology startup is now a payments processor in addition to being a payments facilitator, Insider has learned. By becoming a payments processor, Finix is reducing the number of third-parties in a given transaction as it looks to compete against legacy processors such as Fiserv and FIS. As a processor, Finix can own yet another portion of the payments' lifecycle. And while a legacy processor can take up to 24 hours to test new code, Finix takes 30 minutes.

☆ This is the banking crisis that doesn't end
▼ + stars: | 2023-05-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

This is the banking crisis that doesn't end. So, about that banking crisis being over. The ink is barely dry on JPMorgan's agreement with regulators and it seems more regional banks are feeling the pain. Customers of regional banks are starting to ask questions about how safe their local lender is, the Financial Times reports. Here's more on how regional banks are still getting slammed despite JPMorgan's Jamie Dimon calling an end to the bank crisis.

☆ Fintech Finix just became a payments processor as the startup looks to compete with industry giants like Fiserv and FIS
▼ + stars: | 2023-05-02 | by ( Paige Hagy | ) www.businessinsider.com time to read: +4 min

☆ NBA roundup: Jimmy Butler, Heat eliminate Bucks
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +4 min

[1/3] Apr 26, 2023; Milwaukee, Wisconsin, USA; Miami Heat forward Jimmy Butler (22) drives against Milwaukee Bucks guard Jrue Holiday (21) during game five of the 2023 NBA Playoffs at Fiserv Forum. Butler followed up his franchise-playoff-record, 56-point performance in Game 4 by helping the eighth-seeded Heat overcome a 16-point, fourth-quarter deficit with 12 straight Heat points during one stretch before converting an alley-oop in the final second to force overtime. Bam Adebayo collected 20 points, 10 rebounds and 10 assists for the Heat, who will face the fifth-seeded New York Knicks in the Eastern Conference semifinals. Antetokounmpo recorded 38 points and 20 rebounds and Khris Middleton pumped in 33 points for the Bucks. Anthony Davis amassed 31 points and 19 rebounds and Austin Reaves registered 17 points, eight rebounds and six assists for the seventh-seeded Lakers.

The insurance company posted 84 cents in adjusted earnings per share and $1.11 billion in revenue. However, the company's $592.2 million quarterly revenue fell below the $593.9 million anticipated by Wall Street. Although the company's quarterly adjusted earnings and revenue topped analysts' expectations, investors may have been disappointed in its muted full-year outlook. Danaher's GAAP operating profit of $1.79 billion fell below analysts' estimates of $2.12 billion, according to FactSet. General Motors — Shares fell 3.3% after the automaker lowered its guidance for net income attributable to stockholders in 2023.

☆ NBA roundup: Nikola Jokic, Nuggets take command over Wolves
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +3 min

The top-seeded Nuggets grabbed a 3-0 lead in the best-of-seven series and will aim for a sweep on Sunday in Minnesota. Julius Randle contributed 11 points and eight rebounds despite 3-of-15 shooting, and Immanuel Quickley also scored 11 points. Dejounte Murray added 25 points for Atlanta, which lost the first two games of the series in Boston. Tatum led the Celtics with 29 points and 10 rebounds and added five assists. Marcus Smart finished with 24 points, eight assists and three steals, and Malcolm Brogdon scored 17 points.

☆ NBA roundup: Short-handed Bucks even series with Heat
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +3 min

Jimmy Butler had 25 points to pace the Heat, and Bam Adebayo added 18 points. Jaren Jackson Jr. had 18 points, nine rebounds and three blocked shots and Desmond Bane added 17 points for the second-seeded Grizzlies. LeBron James had 28 points and 12 rebounds and Rui Hachimura added 20 points off the bench for the seventh-seeded Lakers. Michael Porter Jr. scored 16 points and Aaron Gordon had 12 points and 10 rebounds for top-seeded Denver. Denver went on an 8-0 run to open the final quarter, grabbing a 95-89 lead before Minnesota moved in front 99-98.

☆ NBA roundup: Heat best Bucks in injury-riddled Game 1
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +3 min

Bam Adebayo scored 22 points for the eighth-seeded Heat, who were playing less than 48 hours after qualifying for the playoffs by beating Chicago in a play-in elimination game. He stayed in the game for a bit before going to the locker room and returned briefly early in the second quarter before leaving the game for good. In his sixth career playoff game, Hachimura erupted for a playoff career high in scoring by shooting 11-for-14, including 5 of 6 from beyond the 3-point arc. Kevin Durant had 27 points, 11 assists and nine rebounds in his first playoff game for the fourth-seeded Suns. Devin Booker scored 26 points, Torrey Craig added 22 and Deandre Ayton had 18 points and eight rebounds for the Suns.

☆ Tech ripped higher to start the year. Here's how the pros are trading the sector in the new quarter
▼ + stars: | 2023-04-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +10 min

After the worst year for tech since 2008 , many investors questioned whether the market could move higher in the new year without the sector's cooperation. Names such as Apple , Microsoft and Amazon gained about 27%, 20% and 23% in the first quarter, respectively, as yields pushed lower. Amid this backdrop, Alphabet shares gained 17.6% in the first quarter as the company launched it's Bard chatbot rival. Not all investors view big tech so optimistically heading into the new quarter. Much of the surge in tech stocks stems from the oversold conditions created during 2022's carnage, positioning many of these stocks for a bounce, Meeks said.

☆ Jonathan Hirtle launched his $18 billion firm in the wake of the 1987 market crash. He told us what he's holding for the long haul, and what's different about the current bank crisis.
▼ + stars: | 2023-03-23 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Hirtle also discussed how he's investing clients' money and his long-term market views. Hirtle told Insider that the bank failures of 2023 are very different from what he saw in 1987, or in 2008. So Hirtle says he is concentrating on the long term, and that he prefers the US to other regions. Still, he says that global diversification, and diversification across stocks, bonds, and private equity is important for the long term. In the 2010s bull market, stocks rose about 400% in a little under 11 years.

☆ Top Wall Street analysts pick these stocks for attractive returns
▼ + stars: | 2023-03-05 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

In these tough times, investors would be well advised to find stocks that are positioned to navigate a potential economic downturn. To help with the process, here are five stocks chosen by Wall Street's top professionals, according to TipRanks, a platform that ranks analysts based on their past performance. However, the company issued conservative guidance for fiscal 2023 due to the impact of high inflation on its low-to-moderate income customers. Further, he thinks that Kontoor's fiscal 2023 outlook "will likely prove conservative." Poser raised his fiscal 2023 and 2024 earnings per share estimates, reiterated his buy rating for Kontoor Brands and increased the price target to $60 from $53.

☆ Goldman says these are the favorite stocks of both mutual funds and hedge funds
▼ + stars: | 2023-03-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Mutual funds and hedge funds tend to have different risk tolerance and exposure, but Goldman Sachs found a list of stocks loved by both cohorts. It then compiled the "Hedge Fund VIP basket," consisting of 50 stocks that most frequently appear among the largest 10 holdings of hedge funds, and the "Mutual Fund Overweight basket," consisting of 50 stocks in which mutual funds are the most overweight. Goldman found that there are 10 "shared favorites" among hedge funds and mutual funds last quarter. "We expect 2023 to be a more fertile environment for hedge funds and mutual funds given an increasingly micro-driven market." Meanwhile, a duo of insurers — UnitedHealth, Humana — were also loved by both mutual funds and hedge funds.

☆ Stock pickers continue to shine after a better year and here are their favorite names in 2023
▼ + stars: | 2023-02-28 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The Wall Street investment bank analyzed the holdings of 543 mutual funds with $2.4 trillion of assets under management at the start of 2023, based on regulatory filings. It then compiled a basket of the most popular bets, called "Mutual Fund Overweight basket," consisting of 50 stocks in which mutual funds are the most overweight. Year to date, 43% of large-cap mutual fund managers have outperformed their benchmarks, well above the long-term average of 38%, Goldman said. Goldman's mutual fund overweight basket has gained 2% in 2023, in line with the S & P 500's performance. Credit card duo Mastercard and Visa were the two most loved names by mutual funds at the start of 2023, according to Goldman.

☆ Oakmark fund manager likes this alternative asset firm for its ‘attractive long-term earnings growth outlook’
▼ + stars: | 2023-02-15 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Investors should take a closer look at KKR & Co. on the strength of its alternative assets business, according to Michael Nicolas, portfolio manager at Oakmark Funds. "If you kind of step back a little bit, alternatives have been taking share of invested assets for quite some time, and KKR has been taking share within alternatives," he said Wednesday on CNBC's " Squawk on the Street ." The portfolio manager at the Oakmark Equity And Income Investor fund (OAKBX) said he prefers KKR over some of its competitors, such as Blackstone and Apollo Global Management. "We think the company is extremely well managed, and has a really attractive long-term earnings growth outlook. Additionally, Nicolas said he still likes Fiserv and Willis Towers Watson , both stocks he recommended on CNBC in October .

☆ NBA roundup: Bucks take advantage of undermanned Celtics
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +4 min

The Celtics played without four starters: Jayson Tatum (illness), Jaylen Brown (facial fracture), Marcus Smart (ankle) and Al Horford (knee). Deandre Ayton provided the Suns with 29 points and a team-high 11 rebounds, while Chris Paul had 17 points to complement a season-high 19 assists. Kristaps Porzingis contributed 28 points, 12 rebounds and five assists, while Bradley Beal scored 19 points and Kendrick Nunn added 10 for Washington. Scottie Barnes added 17 points, and Precious Achiuwa amassed 11 points and 13 rebounds. Wendell Carter Jr. scored 26 points for the Magic, who have alternated wins and losses for the past six games.

☆ 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.

☆ This week's best-performing stocks include a pharma name up more than 20%
▼ + stars: | 2023-02-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Wall Street is wrapping up a volatile week, but some stocks still did well despite several macro crosscurrents. Take a look at some of the biggest gainers this week, and where analysts see them going forward. Tesla was one of this week's notable gainers, continuing its post-earnings report rally. Semiconductor manufacturer and IP company Skyworks Solutions also made this week's list of biggest gainers. Several financial stocks also had a strong week, with Everest Re and Fiserv gaining 10.1% and 9.2%, respectively.

☆ Morning Bid: Powell's state of the union
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +4 min

Jerome Powell makes his first speech since the Fed's latest quarter-point interest rate rise last week. More importantly, it's his first chance to comment on Friday's seemingly blockbuster U.S. employment report for January. Perhaps just as significantly, they now price year-end Fed rates higher than the 4.5-4.75% range they are at right now. Atlanta Federal Reserve Bank President Raphael Bostic on Monday said of the jobs readout: "It'll probably mean we have to do a little more work." Investors will watch Biden's State of the Union with one eye on the potentially destabilising debt ceiling standoff with Congress.

Search resuls for: "Fiserv"

25 mentions found