Shares of Mastercard Inc (NYSE:MA) ended Thursday session in green amid volatile trading. The shares closed up +0.41 points or 0.41% at $99.98 with 4.61 million shares getting traded. Post opening the session at $99.45, the shares hit an intraday low of $99.39 and an intraday high of $100.67 and the price vacillated in this range throughout the day. The company has a market cap of $110.62 billion and the numbers of outstanding shares have been calculated to be 1.08 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 First Niagara Financial Group Inc. (NASDAQ:FNFG) ended Thursday session in amid volatile trading. The shares closed at $10.18 with 86,808,940 shares getting traded. Post opening the session at $10.11, the shares hit an intraday low of $10.11 and an intraday high of $10.18 and the price vacillated in this range throughout the day. The company has a market cap of $3.61 billion and the numbers of outstanding shares have been calculated to be 356.06 million shares.
First Niagara Financial Group Inc. (FNFG) on July 29, 2016 reported GAAP net income available to common shareholders of $38.9 million, or $0.11 per diluted share for the second quarter of 2016, compared to $40.8 million, or $0.11 per diluted share, for the quarter ended March 31, 2016. Excluding the impact of $7 million in after-tax losses on the sale of the company’s entire high-yield energy bond exposure as well as $17 million in after-tax merger-related costs incurred during the second quarter of 2016, operating net income available to common shareholders was $62.7 million, or $0.18 per diluted share.
“Our second quarter performance is more evidence of the strength of our lending and deposit franchises,” said Gary M. Crosby, President and Chief Executive Officer. “During the second quarter, our core businesses continued to demonstrate positive momentum, with 5% year-over-year growth in average commercial loans and 6% growth in average transactional deposit balances. Consistent with our time-tested policy of prudent and disciplined credit underwriting, our commercial and consumer loan portfolios continue to perform well as evidenced by our stable credit metrics. The First Niagara team delivered this solid performance while at the same time staying very focused on preparing for the completion of our merger with KeyCorp.”