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MasterCard Shares Plunge on Loss
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MasterCard (MA Quote) plummeted as much as 12% Thursday after the company posted a huge quarterly loss, despite strong gains from its international business, following its settlement of antitrust litigation with American Express (AXP Quote).
Shares recouped slightly, though, and were recently down $21.64, or 8%, to $249.09.
In the three months ended June 30, the Purchase, N.Y.-based electronic-payments company posted a loss of $747 million, or $5.74 a share, which includes a $1 billion after-tax charge related to its settlement. MasterCard announced that it had reached an agreement with American Express last month. ...
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