Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,418.30 9.76 0.06%
S&P 500 1,864.40 -0.45 -0.02%
NASDAQ 4,092.72 -2.80 -0.07%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,512.38 -3.89 -0.03%
TOPIX 1,171.40 -1.97 -0.17%
HANG SENG 22,760.24 64.23 0.28%

Credit Service Companies' Earnings Reflect Consumer Confidence and Economic Improvement - Research Report on Visa, American



 Credit Service Companies' Earnings Reflect Consumer Confidence and Economic
    Improvement - Research Report on Visa, American Express, Capital One,
                              Discover, and CIT

PR Newswire

NEW YORK, July 30, 2013

NEW YORK, July 30, 2013 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Today, Investors' Reports announced new research reports highlighting Visa
Inc. (NYSE: V), American Express Company (NYSE: AXP), Capital One Financial
Corp. (NYSE: COF), Discover Financial Services (NYSE: DFS), and CIT Group Inc.
(NYSE: CIT). Today's readers may access these reports free of charge -
including full price targets, industry analysis and analyst ratings - via the
links below.

Visa Inc. Research Report

On July 24, 2013, Visa Inc. (Visa) released its Q3 FY 2013 financial results
(period ended June 30, 2013). Operating revenue was up 17% YoY to $3.0
billion. Operating income was $1.8 billion, compared to an operating loss of
$2.6 billion in Q3 FY 2012. Net income attributable to the Company was $1.2
billion, compared to a net loss of $1.8 billion in Q3 FY 2012. Diluted EPS for
Class A and C common stock was $1.88, compared to a diluted loss per share of
$2.74 in Q3 FY 2012. Diluted EPS for Class B common stock was $0.79, compared
to diluted loss per share of $1.16 in Q3 FY 2012. Commenting on the Results,
Charlie Scharf, CEO of Visa, said, "Visa delivered solid financial performance
during our fiscal third quarter and we remain confident in delivering our
guidance for fiscal year 2013." Scharf continued, "We remain committed and
focused on our long-term strategic goal of supporting our issuers, acquirers,
merchants and government partners through flexibility and innovation in
electronic payments. We are accelerating opportunities to expand our network
through mobile, eCommerce and data-driven solutions, while continuing to
deliver value to our shareholders." The Full Research Report on Visa Inc. -
including full detailed breakdown, analyst ratings and price targets - is
available to download free of charge at:
[http://www.InvestorsReports.com/report/2013-07-25/V]

American Express Company Research Report

On July 17, 2013, American Express Company (American Express) released its Q2
2013 financial results. Total revenues net of interest expense were up 3.5%
YoY to $8.2 billion. Net income was up 4.9% YoY to $1.4 billion. Diluted EPS
attributable to common shareholders was up 10.4% YoY to $1.27. Kenneth I.
Chenault, Chairman and CEO of American Express, stated, "We generated record
bottom line results this quarter despite an uneven global economy." Chenault
added, "We are well on track with the restructuring and related initiatives
that we announced earlier this year. They are helping us contain expense
growth and that, in turn, is giving us the flexibility to make substantial
investments designed to grow the business and expand into newer segments of
the market." The Full Research Report on American Express Company - including
full detailed breakdown, analyst ratings and price targets - is available to
download free of charge at:
[http://www.InvestorsReports.com/report/2013-07-25/AXP]

Capital One Financial Corp. Research Report

On July 18, 2013, Capital One Financial Corp. (Capital One) released its Q2
2013 financial results. Total net revenue was up 11.5% YoY to $5.6 billion.
Non-interest income was up 2.9% YoY to $1.1 billion. Net interest income was
up 13.8% YoY to $4.6 billion. Net income available to common stockholders was
$1.1 billion, compared with net income of $93 million. Richard D. Fairbank,
Chairman and CEO of Capital One, commented, "We delivered solid performance
across each of our businesses during the quarter, and we continue to generate
significant capital. We will continue to tightly manage costs and credit
quality, drive resilient growth in businesses we are emphasizing, and focus on
returning capital to our investors to deliver sustained shareholder value."
The Full Research Report on Capital One Financial Corp. - including full
detailed breakdown, analyst ratings and price targets - is available to
download free of charge at:
[http://www.InvestorsReports.com/report/2013-07-25/COF]

Discover Financial Services Research Report

On July 23, 2013, Discover Financial Services (Discover) released its Q2 2013
financial results. Net interest income was up 8.8% YoY to $1.4 billion. Total
other income was up 10.7% YoY to $611 million. Revenue net of interest expense
was up 9.4% YoY to $2 billion. Net income was up 14.7% YoY to $602 million.
Net income attributable to common stockholders was up 13.1% YoY to $588
million. Diluted EPS was up 21.2% YoY to $1.20. David Nelms, Chairman and CEO
of Discover, stated, "Discover's strong overall results were driven by
profitable growth in Direct Banking and continued improvement in credit offset
to a small degree by a loss in Payment Services as we supported Diners
franchises in Europe." The Full Research Report on Discover Financial Services
- including full detailed breakdown, analyst ratings and price targets - is
available to download free of charge at:
[http://www.InvestorsReports.com/report/2013-07-25/DFS]

CIT Group Inc. Research Report

On July 23, 2013, CIT Group Inc. (CIT) released its Q2 2013 financial results.
Total interest income was down 14.3% YoY to $351.6 million. Net interest
revenue was $70.2 million, compared to a loss of $223.9 million in Q2 2012.
Net income was $183.6 million, compared to a loss of $72.9 million in Q2 2012.
Diluted EPS was $0.91, compared to a loss of $0.36 per share in Q2 2012. John
Thain, Chairman and CEO of CIT, said, "Our financial results this quarter
demonstrate the progress we have made in building our franchise and meeting
our profitability targets." Thain added, "We grew CIT Bank assets and deposits
and advanced our expense reduction initiatives as we continued to provide
financing to our small business, middle market and transportation clients. The
termination of the Written Agreement and our announced share repurchase plan
were important milestones that enhance our ability to create value for our
shareholders." The Full Research Report on CIT Group Inc. - including full
detailed breakdown, analyst ratings and price targets - is available to
download free of charge at:
[http://www.InvestorsReports.com/report/2013-07-25/CIT]

EDITOR NOTES:

 1. This is not company news. We are an independent source and our views do
    not reflect the companies mentioned.
 2. Information in this release is fact checked and produced on a best efforts
    basis and reviewed by a CFA. However, we are only human and are prone to
    making mistakes. If you notice any errors or omissions, please notify us
    below.
 3. This information is submitted as a net-positive to companies mentioned, to
    increase awareness for mentioned companies to our subscriber base and the
    investing public.
 4. If you wish to have your company covered in more detail by our team, or
    wish to learn more about our services, please contact us at
    pubco@EquityNewsNetwork.com.
 5. For any urgent concerns or inquiries, please contact us at
    compliance@EquityNewsNetwork.com.
 6. Are you a public company? Would you like to see similar coverage on your
    company? Send us a full investors' package to
    research@EquityNewsNetwork.com for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This
document, article or report is prepared and authored by Equity News Network.
An outsourced research services provider has, through Chartered Financial
Analysts, only reviewed the information provided by Equity News Network in
this article or report according to the Procedures outlined by Equity News
Network. Equity News Network is not entitled to veto or interfere in the
application of such procedures by the outsourced provider to the articles,
documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Equity News Network makes no warranty, expressed or implied, as to the
accuracy or completeness or fitness for a purpose (investment or otherwise),
of the information provided in this document. This information is not to be
construed as personal financial advice. Readers are encouraged to consult
their personal financial advisor before making any decisions to buy, sell or
hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Equity News Network is not responsible for any error which may be occasioned
at the time of printing of this document or any error, mistake or shortcoming.
No liability is accepted by Equity News Network whatsoever for any direct,
indirect or consequential loss arising from the use of this document. Equity
News Network expressly disclaims any fiduciary responsibility or liability for
any consequences, financial or otherwise arising from any reliance placed on
the information in this document. Equity News Network does not (1) guarantee
the accuracy, timeliness, completeness or correct sequencing of the
information, or (2) warrant any results from use of the information. The
included information is subject to change without notice.

SOURCE Investors' Reports

Contact: CONTACT PERSON: Kristi Saunders - CONTACT PHONE: +1-315-982-6420
(North America)
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement