NEW YORK (TheStreet) -- Shares of VeriFone Systems Inc (PAY) ended Wednesday's regular trading session up 1.78% to $38.93 on heavy volume, one day ahead of the company's second-quarter earnings release after the market closes tomorrow.
Wall Street is expecting VeriFone to post a profit of 42 cents per share on revenue of $489 million for the period.
The maker of P.O.S. cash-register systems announced today that the company teamed up with Visa (V) to speed up omni-channel commerce worldwide.
The two companies are partnering to create a more streamlined omni-channel commerce experience for its customers.
As part of the partnership, Verifone will connect its point of sale gateway to Visa's CyberSource global merchant payment management platform.
About 1.44 million shares have exchanged hands today, compared to its average trading volume of about 956,425 shares a day.
San Jose, Calif.-based VeriFone is engaged in the secure electronic payment solutions.
Its system solutions consist of point of sale electronic payment devices that run its and third-party operating systems, security and encryption software, and certified payment software, as well as other third-party value-added applications.
Separately, TheStreet Ratings team rates VERIFONE SYSTEMS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate VERIFONE SYSTEMS INC (PAY) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing."