Visa Inc, Goldcorp Inc. (USA) and Mastercard Inc Move Big on Earnings

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It’s the day before Halloween, but on Wall Street investors have a very different game of trick-or-treat going on. We’re in the middle of earnings season, a time of year when we see a lot of pops and drops as some of the largest companies in corporate America report their most recent financial results.

visa inc goldcorp inc usa mastercard inc earnings moversThree of the more notable stocks moving on quarterly results before the bell on Thursday were Visa (V), Goldcorp (GG), and Mastercard (MA).

Visa (V)

Visa stock was up more than 8% in early morning trading on Thursday, jumping higher on an impressive showing in its fiscal fourth quarter. The credit card and financial giant saw profits fall by about 10%, but only due to one-time charges that Wall Street largely overlooked.

Excluding one-time litigation costs, Visa earned $2.18 per share last quarter, vs. consensus estimates of $2.10. Other reasons for V stock’s rise — revenue of $3.23 billion beat estimates of $3.19 billion, and the company also announced the approval of a $5 billion share buyback program.

MasterCard (MA)

Visa rival MasterCard also was rising in early Thursday trading, with MA stock gaining as much as 7% right after the opening bell to bring shares much closer to breakeven for the year — a much-welcomed reprieve for investors.

MA topped on both revenue and earnings fronts, reporting third-quarter sales of $2.5 billion and adjusted EPS of 89 cents. Consensus estimates, in turn, called for $2.45 billion in revenue and adjusted EPS of just 78 cents per share.

Goldcorp (GG)

Goldcorp stock built upon 4% losses yesterday with another 5%-plus decline in early Thursday trading after reporting a third-quarter net loss. The price of gold has been in a rut of late, and GG stock has joined other mining stocks in feeling the pain.

The Vancouver-based miner barely broke even on an adjusted basis, reporting adjusted earnings of 9 cents per share to fall short of expectations. Including one-time items, Goldcorp pitched a $44 million net loss

As of this writing, John Divine did not hold a position in any of the aforementioned securities. You can follow him on Twitter at @divinebizkid.


Article printed from InvestorPlace Media, https://investorplace.com/2014/10/visa-inc-goldcorp-inc-usa-mastercard-inc-earnings-movers/.

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