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Synchrony Financial, Wells Fargo and Navistar slip
– canadianbusiness.com
NEW YORK, N.Y. – Stocks that moved substantially or traded heavily on Tuesday:
Synchrony Financial (SYF), down $4 to $26.44
The country’s largest issuer and manager of retail store brand credit cards said more of its customers were falling behind on payments.
Wells Fargo & Co. (WFC), down $1.10 to $46.87
Banks traded lower as bond yields continued to drop, which took interest rates lower.
Motorcar Parts of America Inc. (MPAA), up $2.79 to $30.53
The auto parts maker jumped after it reported its fiscal fourth-quarter results.
Revance Therapeutics Inc. (RVNC), down $5.14 to $13.21
The company ended development of a gel intended to treat crow’s feet and will concentrate on injectable form of the drug.
Navistar International Corp. (NAV), down $1.68 to $11.47
An analyst downgraded the truck and engine maker’s stock and said its results will disappoint investors in 2017 and 2018.
KemPharm Inc. (KMPH), down $1.55 to $4.74
The company said regulators did not approve its acute pain drug Apadaz…
Synchrony Financial (SYF), down $4 to $26.44
The country’s largest issuer and manager of retail store brand credit cards said more of its customers were falling behind on payments.
Wells Fargo & Co. (WFC), down $1.10 to $46.87
Banks traded lower as bond yields continued to drop, which took interest rates lower.
Motorcar Parts of America Inc. (MPAA), up $2.79 to $30.53
The auto parts maker jumped after it reported its fiscal fourth-quarter results.
Revance Therapeutics Inc. (RVNC), down $5.14 to $13.21
The company ended development of a gel intended to treat crow’s feet and will concentrate on injectable form of the drug.
Navistar International Corp. (NAV), down $1.68 to $11.47
An analyst downgraded the truck and engine maker’s stock and said its results will disappoint investors in 2017 and 2018.
KemPharm Inc. (KMPH), down $1.55 to $4.74
The company said regulators did not approve its acute pain drug Apadaz…
Walmart Canada to no Longer Allow Purchases on VISA Cards
– ratesupermarket.ca
Starting next month, Walmart shoppers in Canada will no longer be able to use their Visa cards to pay for their purchases because of what the company is calling “unjustifiably high” fees associated with the card. The decision, announced quietly on Saturday, comes after an evaluation of credit card transaction fees throughout the country and the rest of the world.
The initiative will be phased in beginning July 18th at the stores in Thunder Bay and from there, will continue throughout the rest of the country. The “no Visa” policy will be limited to Canadian locations and it’s not yet known how long the entire process will take. Walmart stores will continue to accept MasterCard, Discover, American Express, debit and cash.
The retailer, which has more than 400 stores in Canada, will not reveal the exact total of annual credit card sales, but in a statement on its website, it says it pays “over $100 million in fees to accept credit cards each and every year.”
Visa, meantime, says this will have a negative impact on Canadian shoppers, and the company is disappointed that Walmart is choosing to put “their own financial interests ahead of their own consumers’ choice…
