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Wall Street Reacts To VeriFone Earnings

  • VeriFone Systems Inc (NYSE: PAY)opened sharply lowerfollowing Q3 earnings.
  • Of four early notes from Wall Street analysts, three maintained Overweight and Outperform ratings including Barclays, Pacific Crest and Wedbush.
  • Deutsche Bank is the contrarian in the group, saying that "growth moderation concerns" were "confirmed."

In VeriFone's Q3 earnings report, the company beat expectations as U.S. sales grew by 61 percent, while its emerging market segment also improved. However, analysts said that foreign exchange is still a headwind, causing even the bullish analysts to reduce estimates. Read More

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