Fiserv slides as Trump taps CEO to head Social Security

31 minutes ago

Fiserv (F.I) shares fell on Thursday morning after President-elect Donald Trump nominated Frank Bussignano, the CEO of the financial services company, to lead it. Social Security Administration.

Trump called Busignano “a business leader with a tremendous track record of turning around large corporations” in a Truth Social post announcing the nomination.

In a statement Thursday, Fiserv said Bisignano will continue. CEO Until the final confirmation hearing. Lead director Doyle Simons said succession planning had “always been a priority” for the company’s board, and said he would follow the succession plan already in place to name a new CEO. It has been confirmed.

Fiserv’s CEO previously held Citigroup (C) and JP Morgan (JPM) before a tenure at First Data, another financial tech company. He joined Fiserv through its merger with First Data, serving as COO of the combined company after the 2019 merger and became CEO in 2020.

Shares of Fiserv were down more than 4% Thursday morning, but still more than 50% above where they started the year.

–Aaron McDaid

American Airlines stock rises on Citi credit card deal

57 minutes ago

Shares of American Airlines Group (AAL) increased. Thursday morning when the carrier announced it had signed a new, exclusive credit card partnership with Citigroup (C), which will take over Barclays’ (BCS) part of the portfolio.

American Airlines and Citi, which have partnered on credit cards for more than 37 years, have signed a 10-year extension with the bank “to be the exclusive issuer of the AAdvantage co-branded card portfolio in the U.S. through 2026.” gone.” So far, American Airlines has issued cards with both Citi and British bank Barclays.

“This agreement creates an innovative alignment between the Citi ThankYou and AAdvantage card programs and will drive additional value for both companies and significantly expand loyalty for AAdvantage members and Citi-branded card members,” the companies said. and designed to produce an offer of rewards.”

American Airlines stock was up 13 percent recently, trading at its highest level since mid-2023.

Citigroup shares rose about 1 percent.

–Aaron Rainey

Five down jumps on new CEO’s name, outlook boost

1 hour 49 minutes ago

shares of the bottom five (Five) is rising more than 13 percent in premarket trading after the discount retailer announced a new CEO and raised its outlook for the year, noting “solid” Black Friday sales.

On Thursday, Five Below announced that it has appointed Forever 21’s Winnie Park as its new CEO. The company had announced the sudden departure of its CEO Joel Anderson. Julywhile lowering its sales guidance.

The company now estimates net sales for the year to be between $3.84 billion and $3.87 billion, assuming comparable sales will decline by about 3%. That compares with an earlier forecast of $3.73 billion to $3.80 billion in net sales, a decline of about 4% to 5.5% in comparable sales.

adjust Earnings per share (EPS) Expect to be in the $4.78 to $4.96 range versus the $4.35 to $4.71 range, previously.

Third quarter results also beat estimates. Net sales of $843.7 million beat the $797.4 million estimate of analysts polled by Visible Alpha. Adjusted EPS of 42 cents also beat estimates of 16 cents.

JPMorgan analysts noted that Five Below management said in the earnings call that foot traffic at stores had increased since the middle of the second quarter, a “180-degree turn” from the second quarter. Analysts raised their price target on the stock to $110 from $83, but stuck to their underweight call.

The stock was trading at around $118 early Thursday, up 12 percent to a six-month high. Despite the gain, the stock has lost about 45 percent of its value since the start of the year.

–Nisha Gopalan

Bitcoin levels above $100K to watch as cryptocurrency.

3 hours 10 minutes ago

With Bitcoin’s move around $100,000, it broke above a newly formed pen, a chart pattern that signals the cryptocurrency’s current move higher.

A scale move, which calculates the bullish move prior to the pennant and adds that amount to the pattern’s top trend line, suggests a bullish target of $129,930.

Investors should monitor key support levels near $90,500, $80,500 and $70,000 on Bitcoin’s chart.

Bitcoin was recently trading near $103,000 and has gained more than 45% since the presidential election amid hopes that the incoming Trump administration will adopt policies that will benefit the crypto industry.

Read on Full technical analysis piece here.

–Timothy Smith

Major stock index futures edged lower.

3 hours 39 minutes ago

Futures linked to major U.S. stock indexes were down less than 0.1 percent this morning, as trading resumes after stocks hit fresh highs on Wednesday.

Dow Jones Industrial Average Futures

S&P 500 futures

Nasdaq 100 futures