Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of payment processor Global Payments
So what: Global Payments reported revenue of $440 million, up 7% from last year and in line with analyst estimates. The bottom line, however, showed earnings per share of $0.67 on an adjusted basis, not only down from last year, but short of the $0.69 that Wall Street was hoping for. There are few ways to better inspire investor ire than by missing earnings estimates.
Now what: Global Payments connects merchants with the card networks for Visa
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