Shares of Paypal Holdings Inc (NASDAQ:PYPL) ended Thursday session in green amid volatile trading. The shares closed up +0.20 points or 0.50% at $40.49 with 5.69 million shares getting traded. Post opening the session at $40.42, the shares hit an intraday low of $40.14 and an intraday high of $40.66 and the price vacillated in this range throughout the day. The company has a market cap of $49.61 billion and the numbers of outstanding shares have been calculated to be 1.21 billion shares.
On September 6, 2016 PayPal (PYPL) and Mastercard (MA) announced an important expansion of their long-standing partnership that will enhance the consumer experience by making Mastercard a clear payment option within PayPal, enable Masterpass as a payment option for Braintree merchants and expand PayPal’s presence at the point of sale. This will provide increased value to Mastercard cardholders, financial institutions and PayPal customers.
Under the expanded partnership, consumers and small businesses will be able to instantly cash out funds held in their PayPal accounts to a Mastercard debit card. PayPal will also be provided certain financial volume incentives and, as a result of the commitments made under this agreement, will no longer be subject to the digital wallet operator fee.
“Customer choice and partnership are fundamental principles for PayPal that guide how we operate as a company, giving our customers greater opportunities to more easily manage and move their money online, in app and in-store,” said Dan Schulman, president and CEO, PayPal. “With each partnership agreement that we sign, we further expand the ubiquity and value of the PayPal brand and improve our own economics. Mastercard has been a trusted partner for many years. By collaborating and innovating together we will continue to help move digital payments forward and improve payment experiences for our mutual customers.”
“Whether paying in the physical or digital world, consumers want to see the familiar Mastercard brand from their chosen issuer,” said Ajay Banga, president and CEO, Mastercard. “The expansion of the partnership with PayPal further reinforces our commitment to our billions of cardholders across the globe to provide them the choice to pay when, where and how they want while delivering the simple and secure payment experience they’ve come to expect from Mastercard.”
Shares of CBL & Associates Properties, Inc. (NYSE:CBL) ended Thursday session in green amid volatile trading. The shares closed up +0.07 points or 0.57% at $12.42 with 5.55 million shares getting traded. Post opening the session at $12.57, the shares hit an intraday low of $12.35 and an intraday high of $12.79 and the price vacillated in this range throughout the day. The company has a market cap of $2.10 billion and the numbers of outstanding shares have been calculated to be 170.79 million shares.
On September 2, 2016 CBL & Associates Properties, Inc. (CBL) and affiliates of High Real Estate Group LLC, its 50/50 partner, announced that it closed on the assignment of 100% of the partnership ownership interest in High Pointe Commons in Harrisburg, PA to Unison Realty Partners. High Pointe Commons is a 355,000-square-foot community center anchored by Target and JCPenney. The partnership received total consideration of $33.8 million. Proceeds from the transaction were used to retire existing secured loans aggregating $17.4 million with CBL’s share of net proceeds used to reduce outstanding balances on the Company’s lines of credit.
“This transaction is the latest example of our ability to raise attractively priced capital through dispositions of high-quality community centers,” said Stephen D. Lebovitz, president & CEO. “The excess proceeds from these asset sales furthers our progress reducing leverage, improving our credit metrics and strengthening our balance sheet.”