3:40 a.m. Dec. 8, 2020
- By Tomi Kilgore
Fiserv affirms 2020 profit outlook, provides in-line guidance for next yearFiserv Inc. reiterated its full-year 2020 adjusted profit growth outlook of 11% over 2019 earnings, "despite some softening in demand due COVID-19 restrictions," and said it expects 2021 adjusted earnings-per-share growth of 20% to 25%. The FactSet consensus for 2020 EPS of $4.41 implied 10.3% growth, and the 2021 EPS consensus of $5.38 implies 22% growth. Also for 2021, the company expects internal revenue growth of 7% to 12%. The payments and financial technology company said its financial outlook "does not assume a significant extension of COVID-19 deep into 2021." The stock, which slipped 0.2% in premarket trading, has rallied 23.1% over the past three months through Monday, while the S&P 500 has gained 10.8%.
3:47 a.m. Nov. 19, 2020
- By Tomi Kilgore
Fiserv stock surges after adding $6.5 billion worth of stock to its repurchase programShares of Fiserv Inc. surged 1.9% in premarket trading Thursday, after the payments and financial technology company said it boosted its share repurchase authorization by 60 million shares. Based on Wednesday's stock closing price of $107.97, the shares could be valued at $6.48 billion, representing about 8.9% of Fiserv's market capitalization of $72.39 billion. The company said the new authorization is in addition to the shares remaining under the existing authorization, which Fiserv disclosed last month to be 7.5 million shares as of Sept. 30. The stock has lost 6.6% year to date through Wednesday, while the S&P 500 has gained 10.4%.
10:18 a.m. Oct. 19, 2020
- By Philip van Doorn
Here are Wall Street’s favorite stocks for an election-relief rally The stock market has staged long rallies following the past nine presidential electionsThe stock market has staged long rallies following the past nine presidential elections.