S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

Traders Tiptoe Into VeriFone (PAY)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

money-stack-image8VeriFone Holdings Inc. (NYSE: PAY) is finally getting a look from traders this morning after the company’s earnings report.  The earnings were not without problems, and the guidance was not something many would deem as a point of beauty.

But VeriFone may finally be deemed safe after more than a year’s worth of major problems at the payment processing company.  After a 90% drop over the last two years and with its house mostly in order, it looks like traders are starting to nibble here.

The  payment processing operator posted $0.17 EPS vs. $0.15 estimates.  Revenues were light at $214 million versus the $220.85 million consensus estimate.

Q2 earnings are expected to be $0.14 to $0.18 non-GAAP EPS vs. $0.18 estimates, while sales are expected to be $205 million to $215 million versus the consensus of $224.45 million. Fiscal 2009 also looks light at $0.60 EPS to $0.85 EPS on $830 million to $880 million  in revenue, while estimates are $0.80 EPS and $925.51 million in revenue.

Shares are indicated up almost 10% at $4.18 after closing as a $3.80 stock yesterday with a $320 million market cap.

JON C. OGG

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Jon C. Ogg |

VeriFone Winning Back Confidence (PAY)

Winning back the confidence of investors is no easy task after accounting irregularities or after scandals involving the books.  However,…
4 Companies That Punished Shareholders Last Week
Chris Lange |

4 Companies That Punished Shareholders Last Week

Although the broad markets were at their highest levels on the year, some companies held them back from pushing even…
Paul Ausick |

VeriFone Lowers Q4 Guidance and Investors Head for the Exits

VeriFone Systems reported better-than-expected fiscal third-quarter 2015 results after markets closed Thursday.
Jon C. Ogg |

Cree’s LED Shareholder Ambition… From Growth To Value (CREE)

The LED sector is just not coming back like many turnaround investors would hope.  Cree Inc. (NASDAQ: CREE) reported earnings…
Paul Ausick |

Why Are Investors So Patient With VeriFone?

VeriFone Systems reported better-than-expected second-quarter fiscal 2015 results after markets closed Thursday.
Has Fitbit Finally Bottomed?
Chris Lange |

Has Fitbit Finally Bottomed?

Fitbit, Inc. (NYSE: FIT) reported its fourth-quarter financial results after the markets closed on Wednesday. So far year to date…
Paul Ausick |

VeriFone Earnings, Revenues Solidly Higher

VeriFone Systems reported adjusted fourth-quarter and full-year 2014 results after markets closed Monday.
VeriFone Beats Estimates, Raises Guidance
Paul Ausick |

VeriFone Beats Estimates, Raises Guidance

VeriFone Systems Inc. (NYSE: PAY) reported fiscal first quarter 2016 results after markets closed Thursday. The electronic payments company reported…
Douglas A. McIntyre |

StreetInsider.com After-Hours Movers 04/111

NovaStar Financial, Inc. (NYSE: NFI) 14.9% HIGHER; received a commitment for an additional financing facility in an amount up to…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618