FIserv Inc.

Fiserv says CEO Yabuki will depart in July as First Data executive steps into the top roleFiserv Inc. shares dropped 2% in after-hours trading Thursday after the company announced that Chief Executive Jeffery Yabuki will be stepping down from his post on July 1. He'll be succeeded by Frank Bisignano, who's currently the president and chief operating officer of Fiserv. He joined the company from First Data, which Fiserv acquired in July. Yabuki is the chairman of Fiserv's board and will stay on as executive chairman for the duration of 2020. The company also posted first-quarter results Thursday. It reported net income of $392 million, or 57 cents a share, up from $225 million, or 56 cents a share, in the year-prior quarter. Adjusted earnings per share rose to 99 cents from 85 cents and came in even with the FactSet consensus. Revenue rose to $3.77 billion from $1.5 billion and included $1.4 billion from the businesses acquired in the First Data deal. Fiserv shares have lost 12% in the past three months as the S&P 500 has declined 13%.

This contact tracing technology of COVID-19 in over a dozen jurisdictions could assist companies as they reopenCongress would need to allocate about $3.6 billion in emergency funding, including the hiring of 100,000 contact tracers, to identify who has tested positive for COVID-19 and find out from them where they have gone and whom they’ve come in contact with.

Here are Tuesday’s worst stocks as the S&P 500 posts the biggest decline in three weeks The technology sector led stocks lower as chip stocks crumbledThe technology sector led stocks lower as chip stocks crumbled.

How can the companies that help us pay for goods survive a coronavirus shutdown? The payments industry in the age of COVID-19: PayPal and Square look for new opportunities, while Visa and Mastercard look to survive a new kind of economic downturnAs the COVID-19 outbreak curtails consumer spending, some younger payment-processing companies are getting creative, while the stalwarts are betting their resilient business models can withstand the latest economic downturn.

Coronavirus update: 124,578 cases, 4,584 deaths; WHO declares pandemic WHO officials said the number of COVID-19 cases outside China has increased tenfold as the number of countries affected has tripledThere are now eight countries that have reported at least 1,000 cases of COVID-19 among their residents, including the U.S., France and Germany.

Square moves investor day online while Fiserv moves its event to the fall due to coronavirusSquare Inc. announced late Tuesday that it would be hosting its investor day as a virtual event "to accommodate ongoing travel and workplace restrictions." The payments company will webcast its presentation on March 24 beginning at 8:30 a.m. PT. Fellow payments company Fiserv Inc. said Wednesday that it is pushing back its own investor day to an undetermined date in the fall "due to an abundance of caution related to the coronavirus." The company also boosted its long-term synergy expectations for its First Data deal, which closed in late July. Fiserv now expects $1.2 billion of run-rate cost synergies, up $300 million from the prior target, and more than $600 million of run-rate revenue synergies, up $100 million from the old target, for the five-year period that ends in 2024. Fiserv reiterated its 2020 outlook for 6% to 8% internal revenue growth and 23% to 27% growth in adjusted earnings per share. Square's stock is down 2.6% in premarket trading Wednesday, while Fiserv's is off 1.9%. Square shares have gained 7.5% so far this year, as Fiserv's have dropped 7.5%. The S&P 500 is down 11% on the year.

TA Associates Invests in AffiniPay in Latest Deal in Payments The private-equity firm TA Associates has won an auction for the company, people familiar with the matter said. Barron’s reported in December that the business, which produces $30 million a year in Ebitda, was up for sale.

When blockchain arrives in fintech, old-line payment processors will feel the pain Blockchain will dramatically lower transaction costs for retailers, which paid a collective $108 billion last yearBlockchain will dramatically lower transaction costs for retailers, which paid a collective $108 billion last year.

Sales winners in the third quarter include Netflix, Autodesk and PayPal Plenty of companies have produced double-digit sales increases and wider profit margins during an otherwise dismal earnings seasonPlenty of companies have produced double-digit sales increases and wider margins during an otherwise dismal earnings season.

The earnings recession looks destined to continue as Disney and the rookies take stage Earnings Watch: Peloton and Uber will join health-care companies, videogame publishers and a whole lot of internet stocksWhile the departure of October means the quarter is only one-third complete, the quarterly earnings season has already entered the home stretch, and appears certain to lose yet again.

How the frugality of U.S. corporations saved third-quarter results from the abyss Roughly 70% of S&P 500 companies have reported third-quarter earningsThird-quarter earnings season still appears that earnings-per-share, or EPS, for America’s largest public companies will decline year-over-year during the three-month period, reported results are coming in much better than feared.

Global Payments is feeling more upbeat about synergies gained from TSYS deal Global Payments beats earnings and revenue expectationsGlobal Payments Inc. shares are rising in Thursday trading after the company topped earnings expectations and gave a more view of the synergies that could result from its Total System Services (TSYS) deal.

With profits slipping, where should you put your money? Earnings may be in a recession, but does that favor growth or value stocks?Corporate earnings are expected to drop, so what should small investors do about it?

Visa stock the biggest drag on the Dow, as payments sector suffers broad declineShares of Visa Inc. swung into negative territory Monday, to pull back sharply from a record high, and to be the biggest drag on the Dow Jones Industrial Average . The stock was up as much as 0.7% at an intraday high of $187.05, which would have put it on track for a third-straight record close, but pulled a U-turn to be down $5.94, or 3.2% at $179.80 in afternoon trading. The price decline shaves about 40 points off the Dow's price, which was up 16 points. Shares of some of Visa's payments peers also fell, with shares of Mastercard Inc. down 3.5%, Square Inc. shedding 3.2% and PayPal Holdings Inc. losing 4.5%. Elsewhere, American Express Co.'s stock slipped 0.4% and Fiserv Inc. shares shed 2.2%.

Global Payments beats on earnings as CEO cheers TSYS deal opportunities Chief Executive Jeff Sloan says combined company will have better exposure to fast-growth markets than Fiserv, FISGlobal Payments Inc. reported better-than-expected second-quarter profit numbers on Tuesday, while slightly raising its earnings forecast for the full year.

Fiserv leads payments stocks higher after suggesting mega-merger targets are conservative Fiserv’s Friday rally has shorts staring down $400 million in paper losses for the dayFiserv Inc. shares continued their rally on Friday, after the financial-technology company suggested that its synergy targets for its pending deal with First Data Corp. could be conservative.

Southwest takes drastic action to address 737 Max issues and stock is rewarded Earnings Watch: Alphabet and Amazon lurk on deck as antitrust interest heats upAir carriers have spent the past two weeks giving updates on the continued Boeing 737 Max groundings, and Southwest Airlines Co. just announced the most drastic plan so far.

First Data deal has turned Fiserv into a big short play Financial-services company now ranks above Visa with more than $5 billion in short interestOnce-sleepy Fiserv Inc. has become the top short play among payments and data-processing companies in the months since it announced an all-stock deal for First Data Corp.

The S&P 500 just hit a record high — so did these stocks These 54 components of the S&P 500 rose to record levels tooThese 54 components of the S&P 500 rose to record levels too.