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MasterCard posted a lower-than-expected quarterly profit and said its net revenue for the year would come in at the low end of its forecast range.
Some of Friday's midday movers:
Jan 31- MasterCard Inc posted a lower-than-expected quarterly profit and said its net revenue for the year would come in at the low end of its three-year forecast range as customers migrate to Visa Inc as part of a previously announced deal.
*Wal-Mart cuts outlook; shares off in premarket trade. NEW YORK, Jan 31- U.S. stocks retreated on Friday, on course for their first monthly decline since August, in the wake of weak earnings reports by companies like Amazon and Walmart and concerns about declining currencies in emerging markets.
The markets will continue to grapple with emerging market fallout, due to lower liquidity stemming from the Federal Reserve's tapering policy.
*Mattel shares plunge after fourth-quarter results. *Wal-Mart cuts outlook; shares off in premarket trade. NEW YORK, Jan 31- Wall Street was poised to tumble at the open on Friday and was set for its first monthly decline since August, hurt by weaker-than-expected inflation data in the euro zone and ongoing concerns about turbulence in emerging markets.
Jan 31- MasterCard Inc, the world's No.2 credit and debit card company, reported a 3 percent rise in quarterly profit but missed analysts' average forecast as expenses rose. MasterCard shares were down 7 percent at $74.29 before the bell.
U.S. stock index futures signaled a steep drop at the start of trading on Wall Street Friday, ahead of fourth quarter earnings from Chevron and MasterCard.
Jan 31- MasterCard Inc, the world's No.2 credit and debit card company, reported a 3 percent rise in quarterly profit as more people across the world used plastic instead of cash. MasterCard's net income rose to $623 million, or 52 cents per share, in the fourth quarter from $605 million, or 49 cents per share, a year earlier. Adjusted earnings were 57 cents per share.
As January comes to a close, the stock market is down about 3 percent, and it has set the tone for a much more challenging year.
*First-qtr earning $2.20/ shr vs est $2.16/ shr. Jan 30- Visa Inc's chief executive urged U.S. merchants and banks to hasten the adoption of a more secure technology for credit and debit cards after security breaches at several retailers.
*MasterCard says interference will push up consumer costs. LUXEMBOURG, Jan 30- MasterCard's five-year battle to keep multi-billion-euro cross-border card fees was dealt a blow on Thursday when an adviser to Europe's top court backed efforts to reduce such charges.
Jan 30- Visa Inc, the world's largest credit and debit card company, reported a better-than-expected 9 percent rise in quarterly profit as more people used cards instead of cash to make payments.
*Setback for MasterCard in fight to keep cross-border card fees. LUXEMBOURG, Jan 30- MasterCard suffered a blow on Thursday in a five-year fight against an EU ban on cross-border card fees, as an adviser to Europe's top court backed regulators' efforts to cut card costs.
ETFs are marketing on their low fees, but that should rarely if ever be a deciding factor in buying one.
Traders are bracing for another rough ride in markets this week, as the emerging markets continue to shakeout and the Fed is expected to announce another round of cuts to its easing program.
Are you prepared to navigate another wave of selling, should one come, in the week ahead?
WASHINGTON/ NEW YORK, Jan 23- Congress turned up the heat on Target Corp on Thursday, summoning the company's chief financial officer to testify at a Senate hearing, while Democrats on a House committee asked the No. 3 retailer to turn over a slew of documents related to its massive data breach.
So far, about 2,400 payment cards used at Neiman Marcus' various chains have been used fraudulently, CEO Karen Katz wrote in a statement on the company's website, citing notification from credit card networks Visa Inc, MasterCard Inc and Discover Financial Services.
Jan 23- Target Corp's chief financial officer will testify before the U.S. Senate Judiciary Committee on Feb. 4 about a massive data breach in what is likely to be the first time the retailer publicly answers questions about the unprecedented attack.