Actionable news
0
All posts from Actionable news
Actionable news in V: VISA Inc,

Here's Why Visa (V) Stock Is Climbing in Pre-Market Trading Today

NEW YORK (TheStreet) -- Visa (V - Get Report) stock is advancing by 1.73% to $78.38 in pre-market trading on Monday, as the USAA, one of the biggest debit and credit card issuers, moves its portfolio to Visa from MasterCard (MA).

The USAA is the 10th-largest credit-card issuer, and had $17.53 billion in outstanding loans as of June 30, according to the Wall Street Journal. The company serves military members and their families.

The card issuer has worked with MasterCard for roughly 30 years, but is switching payment networks because Visa offers more benefits, such as no foreign transactions fees for USAA Visa credit cards in 2016, according to a statement.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks with serious upside potential in the next 12-months. Learn more.

Most of the cards will be changed next year, according to the USAA website.

Financial details of the deal were not disclosed.

Separately, TheStreet Ratings team rates VISA INC as a Buy with a ratings...


More