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Thursday, October 02, 2008
Global Payments Quarterly Profit Rises To 71 Cents a Share
Sue Chang
MarketWatch Pulse
SAN FRANCISCO -- Global Payments Inc. late Thursday reported its fiscal first-quarter net income rose to $57.5 million, or 71 cents a share, from $43.6 million, or 53 cents a share, in the first quarter of 2007. Revenue increased to $405.8 million from $311 million in the same period a year ago, said the Atlanta-based electronic transaction processing services provider. Analysts polled by FactSet Research, on average, had forecast the company to report earnings of 60 cents a share on revenue of $394.2 million. The company also said it is raising its 2009 earnings outlook to $2.37 to $2.45 a share and hiked its revenue target to a range of $1.64 billion to $1.68 billion based on strong performance in the first quarter. Wall Street is projecting the company to report earnings of $2.27 a share on revenue of $1.67 billion in 2009.
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
