This morning, shares of both Mastercard (NYSE:MA) and Visa (NYSE:V) are trading sharply lower in response to the legislation passed by the Senate last night regarding credit card merchant fees. The new measure limits the fees charged to merchants and could impact earnings at the credit card companies.
In morning trading, shares of Visa were lower by more than 8%, while shares of Mastercard were trading lower by a little more than 7%.
China Electric Motor (CELM) saw its shares slide Friday morning following lackluster earnings. First quarter earnings were inline with Wall Street estimates, but guidance came in weaker than expected. Analysts were looking for seventeen cents per share in the second quarter, but the company guided below that in the range of fourteen cents per share to sixteen and a half cents per share.
Shares of China Electric Motor were trading lower on the news, off more than 18% so far.
And CA Incorporated (NASDAQ:CA) saw shares sink this morning after the company reported earnings of thirty four cents per share compared to Wall Street estimates of thirty six cents per share. Weak earnings were attributed to the lumpiness of the business, but investors weren't looking for excuses.
Shares of CA Incorporated fell more than 7% Friday morning and could keep falling.
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