Financial Services
Visa, MasterCard Get Lift From Upgrade
An improvement in cross-border volumes should also contribute to growth in purchase volume.
"While detailed statistics are not provided by Visa or MasterCard, crossborder volumes fell from a double-digit year-over-year growth rate late 2008 to a low-single-digit rate of decline mid-2009," Orenbuch writes. "We would expect international travel/cross-border activity to accelerate concurrent with the broader improvement in the economic environment early 2010." The companies could also look to further raise fees in the near future, while previous revenue growth headwinds such as a weaker U.S. dollar and poor year-over-year gas price comparisons should moderate. Visa will report fiscal fourth-quarter earnings on Oct. 27. MasterCard will report third-quarter earnings on Nov. 3. Shares of MasterCard were up 1.9% to $218.44, while Visa's stock was rising 1.4% to $73.96. --Written by Laurie Kulikowski in New York.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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