V - Visa Stock Chart Suggests Bearish Momentum Ahead Of Q2 Earnings | Benzinga
Visa Inc (NYSE:V), will be reporting its second-quarter earnings on Tuesday. Wall Street expects $2.44 in EPS and $8.62 billion in revenues as the company reports after market hours.
The company has been delivering an earnings beat over the last four quarters. The stock experienced significant gains from October 2023 to March 2024. However, it has fallen more than 7% since March 21, which has reduced its year-to-date performance to just 3.62%.
The stock appears to have been impacted by:
- Capital One Financial Corp (NYSE:COF) ongoing acquisition of Discover Financial Services (NYSE:DFS) for $35.3 billion, with the goal is to challenge the dominance of Visa and Mastercard.
- The settlement of the class action suit against Visa and Mastercard Inc (NYSE:MA), which resulted in both companies agreeing to reduce swipe fees for merchants by at least four basis points for three years. Additionally, they agreed to not increase swipe fees above the rates set as of December 31, 2023, for five years.
Consequently, Mastercard, Visa’s rival and peer, ...