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$V posted lower earnings in 3Q16, hurt by the special items related to the acquisition of Visa Europe versus 3Q15. GAAP net income was $412MM or $0.17 per diluted share compared to $1.7Bil or $0.69 per diluted share last year. Operating revenues were up from 3.2% from last year to $3.6Bil. Adjusted net income was $1.6Bil or $0.69 per diluted share.
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.
$CSCO shift from hardware to becoming a software behemoth seems to be working for the company so far. Stock has seen a steady rise since the change. But is it sustainable?
Heard about the next generation iPhone. Going by the reports, it is believed that $AAPL will release three iphones this year.
Samsung chief Jay Y. Lee arrested under $36 million bribery charges. Stocks are also down. This is going to impact the sale of its Galaxy 8, set for April release. Here’s an opportunity for $AAPL to capitalize on a rival’s fall.