GLG News by Hypercom Point of Sale Terminal Experts

Key Implications:Naseem's breach of Credit Suisse's trust may have irrevocable implications for Credit Suisse's reputation.  Credit Suisse contacted the SEC and DOJ when Naseem's suspicious trading activities between April 2006 - February 2007, allegedly amounted to "insider trading" tips. Naseem...

Key Implications:MasterCard's 1st Quarter net income of $215 million, which is a 70% jump, is the highest quarterly net income in the 40 year history of the company, just one year post IPO.  As consumers' debit card usage surged to 1.5 billion transactions on the MasterCard network in the 1st Quarter,...

Citigroup (NYS:C) agreed to acquire Bisys (NYS:BSG) for $1.45 billion. Bisys had been on the market since August 2006. Citi plans to keep the hedge fund and mutual fund services units of Bisys. At the closing, Citi will spin off the insurance and retirement services units to affiliates of J. C. Flowers...

National City Corp. saw its 1Q2007 profit sink 31 percent compared with 1Q2006. Noninterest income fell 5.3 percent and interest income slipped 8.3 percent on a year-over-year basis. NCC closed on its sale of First Franklin, a subprime lending affiliate, and other mortgage affiliates to Merrill Lynch...

Key Implications:J.C. Flowers & Co., Friedman Fleischer & Lowe LLC, JPMorgan Chase and Bank of America have partnered to buyout Sallie Mae (SLM) for $25 billion.  The private equity funds (J.C. Flowers & Co., Friedman Fleischer & Lowe LLC) will own a 50.2% stake and JPMorgan and...

Key Implications:Despite a possible hostile takeover bid by a Consortium comprised of RBS, Santander & Fortis, a $498 million fine by the U.S. DOJ for allegedly violating anti-money laundering guidelines, a revolt by 2/3rds of its largest shareholders and its friendly acquisition by Barclays, who...

Earnings improved as the two year corporate restructuring First Financial Bancorp (NAQ:FFBC) has largely been completed. Return on average assets for the first quarter 2007 was 1.04% compared to 0.10% in 4Q2006 and 0.45% for 1Q2006. Return on average shareholders' equity was 11.94% for 1Q2007, up from...

First Citizens BancShares Inc. issued its first quarter earnings release, reporting a 1% increase in quarterly earnings and EPS over 1Q2006. Non interest income was up, net charge offs were down, and taxes were down to compensate for lower net interest income and higher non interest expenses. Return...

Key Implications:The waters just got a little more murky with a counter-bid from the consortium (RBS, Santander & Fortis NV) for ABN Amro for $98.5 billion, trumping Barclays bid of $91 billion for ABN Amro.  The consortium made the announcement on 4.25.07, less than 48 hours after canceling...

Key Implications:Some surprising findings emerged from the PaymentsDynamics 2007 Preferred Payments Study, based on data gathered from over 10,000 respondents from different socio-economic classes, suggests that consumers' "most preferred" form of payment is "debit cards," trumping credit cards, cash,...