Shares of VeriFone Systems Inc (NYSE:PAY) ended Tuesday session in red amid volatile trading. The shares closed down -0.51 points or -3.18% at $15.53 with 3.97 million shares getting traded. Post opening the session at $16.01, the shares hit an intraday low of $15.46 and an intraday high of $16.18 and the price vacillated in this range throughout the day. The company has a market cap of $1.71 billion and the numbers of outstanding shares have been calculated to be 110.97 million shares.
On August 17, 2016 Lebanon is emerging as one of the Middle East’s leading markets introducing innovative cashless payment solutions. As part of the country’s retail infrastructure upgrade, Verifone (PAY), a world leader in payments and commerce solutions and Bank Audi, Lebanon’s largest bank, will provide thousands of merchants with point-of-sale (POS) devices designed to bring new payment and commerce capabilities to the country’s expanding retail market.
“We are delighted to offer the new and easy to install Verifone devices that enable our merchants to benefit from contactless and mobile payment acceptance,” said Randa Bdeir, Group Head of e-Payment Solutions and Card Services at Bank Audi. “Ultimately we are providing consumers with better, faster and more convenient ways to pay and this is a great complement to our strong card business. Verifone’s commerce-enabled devices will encourage the uptake of new POS-based services in Lebanon including e-loyalty and targeted promotions for a more personalized shopping experience.”
Supporting Bank Audi’s merchant services in both countertop and mobile retail sales environments, the Verifone VX520 and VX680 devices will enable contactless with NFC (Near-Field Communication) acceptance and value-added applications that help to increase consumer loyalty and repeat business. Ergonomically designed, they offer high transaction processing speed for fast consumer checkout and better experiences.
“As Lebanon’s premier bank, Bank Audi is a pioneer and market leader in cards and e-payments, offering some of the most innovative merchant solutions,” said Özgür Özvardar, vice president and general manager, Verifone MENA. “We are helping to accelerate their vision for building the next generation retail infrastructure as Lebanon moves towards service-rich mobile and cashless payments.”
Shares of Archer Daniels Midland Company (NYSE:ADM) ended Tuesday session in red amid volatile trading. The shares closed down -0.03 points or -0.07% at $42.15 with 2.38 million shares getting traded. Post opening the session at $42.39, the shares hit an intraday low of $41.94 and an intraday high of $42.39 and the price vacillated in this range throughout the day. The company has a market cap of $24.61 billion and the numbers of outstanding shares have been calculated to be 581.76 million shares.
Archer Daniels Midland Company (ADM) on August 2, 2016 reported financial results for the quarter ended June 30, 2016.
Second Quarter 2016 Highlights (continued):
- EPS as reported of $0.48 includes a $0.09 per share charge related to LIFO, $0.17 per share of gains related to sales or revaluation of assets, and other charges of $0.01 per share. Excluding these items, adjusted EPS is $0.41.
- Trailing four-quarter-average adjusted ROIC was 5.7 percent, 90 basis points below our annual WACC of 6.6 percent.
- The effective tax rate for the quarter was 29 percent compared to 27 percent in the year-ago quarter. This quarter’s taxes included about $20 million of discrete tax items (about $0.03 per share).
- During the first six months of 2016, the company returned $0.8 billion to shareholders through dividends and share repurchases.
“After a challenging start to the year, general market conditions began to turn at the end of the second quarter, providing us with improved opportunities for the second half of the year,” said ADM Chairman and CEO Juan Luciano. “Weak grain handling margins and merchandising results continued for Ag Services. Results for Corn included strong performance in sweeteners and starches offset by lower ethanol results. Our Oilseeds operations leveraged their flex capacity to crush record volumes of soybeans in the second quarter as global protein demand continues to grow. WFSI saw strong growth in flavors and systems, with operating profit in line with the year-ago quarter.