Shares of credit card processor Visa are slipping in Friday trading after the company reported better-than-expected fiscal third-quarter earnings but trimmed its forecast for annual revenue growth. The company said revenue growth was affected by "a strong U.S. dollar and tepid growth from cross-border transactions." It now expects annual revenue growth of 9% to 10%, compared to its previous forecast of 10% to 11%. Oppenheimer analyst Glenn Greene said he expects some share weakness near-term due to the discouraging cross-border revenue growth trends. But, he said, "We suspect the underlying causes are transitory. Also, underlying U.S. and international volumes remain healthy."
More from Video
Amid the Selling, Here's the Big Question Now
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
One Tweet Pulls the Rug Out From Under the Indexes
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
A Technical Look at the New Dow Jones Industrial Average
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.