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MasterCard(MA Quote) beat analyst forecasts, but investors slammed it anyway as financial stocks traded in the red.
The credit card company took a $1 billion charge related to its settlement with American Express(AXP Quote) in the second quarter.
However excluding that charge, the company actually posted a profit increase of 9%, earning $276 million, or $2.11 a share. But investors focused on the lowered expectations of the company, and the stock plunged 10.4% to $242.61. ...
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