Fin Stocks Zone= U.S. Bancorp (USB), Mastercard Inc (MA)
Shares of U.S. Bancorp (NYSE:USB) ended Friday session in red amid volatile trading. The shares closed down -0.19 points or -0.43% at $43.70 with 6.56 million shares getting traded. Post opening the session at $43.89, the shares hit an intraday low of $43.39 and an intraday high of $43.96 and the price vacillated in this range throughout the day. The company has a market cap of $74.47 billion and the numbers of outstanding shares have been calculated to be 1.72 billion shares.
U.S. Bank ended the 2016 Small Business Administration (SBA) fiscal year on Sept. 30 with $838 million in SBA loan volume, an increase of 7.9 percent compared to fiscal 2015. The fifth-largest bank in the country, U.S. Bank maintained its rank as the third-largest SBA lender by volume and fourth-largest lender by units, with 3,285 total loan commitments.
U.S. Bank ranked first in both units and volume in four SBA districts: Iowa, Kentucky, Portland and Seattle/Spokane. U.S. Bank was also first in units in Kansas City, North Dakota, St. Louis and Tennessee, and first in volume in New Mexico. It was first time that U.S. Bank rose to the number-one position in Iowa and New Mexico. U.S. Bank was in the top three in either units or volume in a total of 28 SBA districts, up from 24 last year.
“Even though we’re the fifth-largest bank in the country, we’re the third largest SBA lender, which is remarkable,” said Ross Carey, head of business banking at U.S. Bank. “The results affirm our commitment to small businesses and the communities we serve. Our bankers are local. They are part of the community and building relationships with business owners they know both personally and professionally.”
Shares of Mastercard Inc (NYSE:MA) ended Friday session in red amid volatile trading. The shares closed down -0.69 points or -0.67% at $102.25 with 4.23 million shares getting traded. Post opening the session at $103.05, the shares hit an intraday low of $101.98 and an intraday high of $103.49 and the price vacillated in this range throughout the day. The company has a market cap of $111.49 billion and the numbers of outstanding shares have been calculated to be 1.08 billion shares.
Mastercard Inc (MA) makes it even easier for developers to create next-generation commerce solutions with the launch of Mastercard Developers.
This single gateway enables Mastercard partners to access a diverse range of Application Programming Interfaces (APIs) across payments, data and security. The platform also includes a ‘New and Experimental’ API category that enables partners to test new technologies and applications.
The experimental APIs, developed at the company’s eight R&D Labs around the world, will help partners build, scale and enable payments on new platforms. At the same time, they will have a foundation to explore payments integration into new categories such as augmented reality, virtual reality and the Internet of Things.
“We see Mastercard Developers as empowering our customers, partners and their developers in their efforts to innovate and grow their own businesses,” said Oran Cummins, senior vice president for APIs at Mastercard. “The new platform will serve as a key way to integrate Mastercard technology and services into their digital solutions in an easy and cost-effective way. And, consumers will benefit from the simpler, faster and safer experiences driven by these efforts.”