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again, from a visa/mastercard perspective, if it's visa/ma visa/mastercard's pain, it's capital one's gain. so anything that is a drag on visa, the regulator would say this is a great thing. >> the credit card space is confusing, at least to me. and i'm guessing many of our viewers, dan, in a sense that capital one and discover are very different than mastercard and visa. capital one is a bank that runs its processing through visa. discover, you see the stickers on the door. what would this deal create? would it create another american express? >> exactly. you hit the nail on the head. >> i read your note. >> so look, my view, it's called a closed-loop system where you have the relationship with the merchant and the consumer, so you can a, determine interchange. you can benefit more from the interchange. and also, there's about $300 billion of u.s. credit that goes through capital one. and they can -- >> $300 billion? >> about 10% of the combined visa/mastercard credit volume. >> if you're saying closed dloo, discover is their own thing. if capital one does this deal, do they then dum
again, from a visa/mastercard perspective, if it's visa/ma visa/mastercard's pain, it's capital one's gain. so anything that is a drag on visa, the regulator would say this is a great thing. >> the credit card space is confusing, at least to me. and i'm guessing many of our viewers, dan, in a sense that capital one and discover are very different than mastercard and visa. capital one is a bank that runs its processing through visa. discover, you see the stickers on the door. what would...
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and it has been seen as a let and weighing on mastercard and it's 10% of u.s. credit volumes and says the capital one steering volumes over to discover can help it save on network fees and it will increase competition and elizabeth warren is saying it reduces competition and quote, regulators should block it immediately. >> on what grounds would it reduce competition? tease that one out for me, kate? the companies have argued the opposite that visa and mastercard are the biggest players and you need a company with scale to be able to go and compete. elizabeth warren here arguing that this is just another big player coming in and it could add costs to the consumer and they may be able to raise prices here and it's part of the efficiency that you talked about and it's not also good for the consumers, we'll have to see. capital one and discover said hey, if you're going to compete with anyone it might as well with us, and there are a cup of things in congress going and the amendment is one that they've been trying to get going that there needs to be other options
and it has been seen as a let and weighing on mastercard and it's 10% of u.s. credit volumes and says the capital one steering volumes over to discover can help it save on network fees and it will increase competition and elizabeth warren is saying it reduces competition and quote, regulators should block it immediately. >> on what grounds would it reduce competition? tease that one out for me, kate? the companies have argued the opposite that visa and mastercard are the biggest players...
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Feb 20, 2024
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by the way, they issue credit cards on mastercard and visa. the question is if lena kahn will like this deal. >> you are right about that. could you see her taking your viewpoint or no matter what it's bad? >> i don't know. this has been a deal that people have talked about being a natural deal for a long time. it happened -- i don't know if we can show the discover shares. discover shares came down and struggled. that allowed this situation to happen. they had their own regulatory issues. this is not going to show you exactly what's going on. nonetheless, that's what led both of the stocks to profit falls and other issues. it is an interesting deal. >> i don't know who has a discover card? >> i do not have a discover card. >> that's the problem. i have never seen it. >> you can build the network out and put the marketing muscle of capital one. >> i can't tell you about discover's advertising campaign. i'm sick of capital one's advertising campaign. you are inundated with what's in your wallet from jennifer garner and samuel l. and so many peo
by the way, they issue credit cards on mastercard and visa. the question is if lena kahn will like this deal. >> you are right about that. could you see her taking your viewpoint or no matter what it's bad? >> i don't know. this has been a deal that people have talked about being a natural deal for a long time. it happened -- i don't know if we can show the discover shares. discover shares came down and struggled. that allowed this situation to happen. they had their own regulatory...
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Feb 20, 2024
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but there are some in washington who are wary of visa and mastercard's duopoly, which suggests that bolstering a competitor would be viewed positively. senator elizabeth warren chiming in on social media, saying that regulators must block the deal imme immediately. capital one will fight those potential legal battles. executives expect to add 25 million card holders here, $175 billion in purchase volume in the next couple of years. and $1.3 billion in cost savings. tyler, back over to you. >> all right, kate, this very much. gentlemen, any thoughts here on discover and this deal with capital one? >> go ahead, stu. i'm going to read this tweet, go ahead. >> i think for my perspective, you have a relatively m&a deal, you do that relatively positive for the market, because that's been such a challenge to get that done. no view on this specific deal, but just in the industry, being able to get a relatively large deal through, you saw, you know, elizabeth warren's comments there already pushing back hard on it, so, i think that will be a positive, i think in the bank space at large, people have vie
but there are some in washington who are wary of visa and mastercard's duopoly, which suggests that bolstering a competitor would be viewed positively. senator elizabeth warren chiming in on social media, saying that regulators must block the deal imme immediately. capital one will fight those potential legal battles. executives expect to add 25 million card holders here, $175 billion in purchase volume in the next couple of years. and $1.3 billion in cost savings. tyler, back over to you....
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Feb 2, 2024
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>> mastercard. i like the momentum here >> stephanie >> american express. a little cheaper than mastercard, but they have net new customers at 2.9 million >> the rebalancer. >> four names have been in the strategy amphenol is one of them. >> they've met the rules for the entire time. >> the entire time all technology names right now, we have software at 13%, semis at 10%. >> so we are going to track this movement i will see you for the last hour of the week on "closing bell." "the exchange" is now. ♪ ♪ >>> thank you very much, scott i'm dominic chu in for kelly evans. here's what is ahead on "the exchange." if there was any hope left for a march rate cut, today's blockbuster jobs report put an end to it. but what about a may cut our economist now says that may be off the table, as well. he tells us why and when he sees the first cut coming plus, the headaches of health care billing we'll talk to the ceo of one company hoping to crack the code and leverage artificial intelligence to make it easier fopa
>> mastercard. i like the momentum here >> stephanie >> american express. a little cheaper than mastercard, but they have net new customers at 2.9 million >> the rebalancer. >> four names have been in the strategy amphenol is one of them. >> they've met the rules for the entire time. >> the entire time all technology names right now, we have software at 13%, semis at 10%. >> so we are going to track this movement i will see you for the last hour...
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Feb 28, 2024
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autozone tjx, otis, mastercard, home depot, costco, general electric, disney had a 52-week high. don't tell anyone. if these are the stocks that are leading the market, and they are, by the way. apple is making lows. it's not leaving the market. rsi is 37, not even in the game. alphabet, somehow, looks worse. tesla, -19%. those are not the leaders. these new companies that we are talking about, not really new, new to the conversation, they are not part of max seven, whatever. they are going up, and from my perspective, that is the more important message, and by the way, look at equal weight nasdaq. technology, writ large, it looks amazing. look at equal weight s&p. it's licking -- making higher highs. it may not be video strength, but that's what you want to see. yes, there are a few thousand stocks that are really that important that don't look great right now. there is no real cause for alarm. i want to leave you with something. jc perez had this out this morning. this is the bottom line for me. there are no new lows. right now, 13% of the s&p 500 making new highs, that's great
autozone tjx, otis, mastercard, home depot, costco, general electric, disney had a 52-week high. don't tell anyone. if these are the stocks that are leading the market, and they are, by the way. apple is making lows. it's not leaving the market. rsi is 37, not even in the game. alphabet, somehow, looks worse. tesla, -19%. those are not the leaders. these new companies that we are talking about, not really new, new to the conversation, they are not part of max seven, whatever. they are going up,...
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Feb 21, 2024
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. >> you immediately came up with the notion that competition between mastercard and visa could end up being a positive thing. >> yeah. >> one of your -- a person that you know well that we have on a lot, senator warren, boilerplate. i'm not worried about her. i know where she's going to to come down at when you see something like that, does it make you think maybe progressives are out of their mind and know nothing about it >> i don't know. i thought that my -- >> you see though. you see though you've seen other stuff she said. >> i knew my take from an antitrust world was a bit of a contrarian take. >> were you able to walk into another job? >> no murmurs, no. >> you're known as a right-winger. >> capitalist. i read this -- >> i was just said it. andrew said it yesterday as plain as the nose on your face, how this works and right out of the box, oh, this is going to hurts, blah, blah, blah. same old crap. the stuff she says about buybacks and cooperman and elon musk elon musk paid more taxes than her entire friggin' state basically almost, and we hear that he's just this fat cat who
. >> you immediately came up with the notion that competition between mastercard and visa could end up being a positive thing. >> yeah. >> one of your -- a person that you know well that we have on a lot, senator warren, boilerplate. i'm not worried about her. i know where she's going to to come down at when you see something like that, does it make you think maybe progressives are out of their mind and know nothing about it >> i don't know. i thought that my -- >>...
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Feb 23, 2024
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it would shock me if you weren't allowed to add heft to a potential competitor, visa and mastercard >> i made that argument the day it came out. said, this would be a good thing because people think that visa and mastercard are like a tax on the entire economy if you could have another competitor actually valuable but there's this other argument to be made that, in terms of banking, you don't want more consolidation, and making capital one a stronger, becomes a, first of all, number one credit card company in the country over jpmorgan and citigroup, and whether you think there's too much consolidation and treasury would somehow try to -- >> i'm not saying i watch every minute of this show all the time, but you have the stellantis ceo on. his thing on home car companies? >> five or six. >> five. still way over banked. >> way over banked >> way over banked. >> and employees not watching us, what do you mean you don't watch -- you don't want to cop to that? that you watch the show -- >> i try to diversify a little bit. >> hold on >> not -- >> when we -- >> silicon valley bank. >> yep. >>
it would shock me if you weren't allowed to add heft to a potential competitor, visa and mastercard >> i made that argument the day it came out. said, this would be a good thing because people think that visa and mastercard are like a tax on the entire economy if you could have another competitor actually valuable but there's this other argument to be made that, in terms of banking, you don't want more consolidation, and making capital one a stronger, becomes a, first of all, number one...
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Feb 13, 2024
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senate judiciary committee is calling on the ceos of american airlines and united airlines and visa and mastercard to testify on credit card competition and fees. senator dick durbin saying the four companies have opposed congressional efforts to bring competition to the credit card market in order to protect dominant market positions and profits through cards. the companies have yet to comment. that hearing is slated for april 9th. >>> blackberry announcing it is cutting more jobs in the cybersecurity business as the push to profitability. the company saying the 200 layoffs will create savings of $27 million. the cuts are part of the ongoing plan to separate the internet of things and cybersecurity business as stand alone divisions to reduce annual costs. >>> shares of arm pulling back ahead of the open after soaring 29% in yesterday's session to extend last week's post-earnings rally. the stock is up nearly 90% since that report and has almost tripled since the company's ipo last september. as of this morning, it is less than $40 billion way from overtaking intel's $186 billion market cap and th
senate judiciary committee is calling on the ceos of american airlines and united airlines and visa and mastercard to testify on credit card competition and fees. senator dick durbin saying the four companies have opposed congressional efforts to bring competition to the credit card market in order to protect dominant market positions and profits through cards. the companies have yet to comment. that hearing is slated for april 9th. >>> blackberry announcing it is cutting more jobs in...
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Feb 16, 2024
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oh, by the way, there's visa and mastercard. >> insurance has done well and has been a big boost. >> maybe not the sexiest stocks to talk about. there's some opportunity. we've already touched on it a little bit but let's dig deeper. this other big test does come next week when nvidia reports. there's a new batch of bullish street commentary. kristina partsinevelos joins us now with the details. kristina, go through what all these bulls are saying ahead of getting the numbers. >> who has the bigger price target? and today it is loop new street at $1,200, that's 65% upside from yesterday's close. there's others, oppenheimer, they think, and this is loop, nvidia will not only beat expectations but will provide more upside to its fiscal year 2025 estimates because they are at the front end of this gpu generative ai cycle. yes, there is competition and they believe it's still far out enough that nvidia will benefit from the first mover advantage. analysts writing we're going to party like it's 1995 with the dot-com bubble coming a few years later. is that a good sign to put that as the t
oh, by the way, there's visa and mastercard. >> insurance has done well and has been a big boost. >> maybe not the sexiest stocks to talk about. there's some opportunity. we've already touched on it a little bit but let's dig deeper. this other big test does come next week when nvidia reports. there's a new batch of bullish street commentary. kristina partsinevelos joins us now with the details. kristina, go through what all these bulls are saying ahead of getting the numbers....
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Feb 22, 2024
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underperforming the likes of capital one, visa, and mastercard. deutsche bank attributes that two concerns in the cfpb's intending changes to credit card leafy rules. it says investors are overstating the long term impact those would have on synchrony's revenue, a case for a 45% potential upside. mark to freeze is a analysts that deutsche bank. mark, welcome, good to have you here. >> good to be here. >> this proposed rules that would limit late fees goes back to when? what would it precisely do? >> the proposal came out of the cfpb early february of last year. what they are seeking to do, amongst other things, the headline is effectively drop the maximum lay fee a credit card issuer can charge from $41 to $8. they suggest, just given the averages, that that will reduce total leafy charge by the industry from 12 billion dollars to $9 million a year. this would impact some credit card issuers, depending on the nature of their car business. synchrony, as a private label credit card issuer, is one of the more affected with roughly 15% of their revenu
underperforming the likes of capital one, visa, and mastercard. deutsche bank attributes that two concerns in the cfpb's intending changes to credit card leafy rules. it says investors are overstating the long term impact those would have on synchrony's revenue, a case for a 45% potential upside. mark to freeze is a analysts that deutsche bank. mark, welcome, good to have you here. >> good to be here. >> this proposed rules that would limit late fees goes back to when? what would it...
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Feb 26, 2024
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three more in the 400 billion united health, exxon global and -- i think there is a visa ceiling for mastercard, exxon standard oil had 100 percent sure of the market business at one time, the only oil in many places in the country was standard oil. ivf these to deal with a cyber threat first it's raging still. here is the bottom line. there is no next in nvidia it's what we call a lost, let speedy generous. you might see another one be strong for a generation, but there are other companies that i just outlined that can break through the trillion dollar barrier. while, they are not as exciting as nvidia, if you come pretty darn close. especially eli lilly. in west virginia, gary? >> booyah jim. thanks for helping us a little guys. can i add something here? >> i like amd very much. we own nvidia, sitting there thinking how many of these can we really own? i think amd for 1:50, you buy some more that is my take. we go to jack in new jersey jack. >> hi jen, how are you? >> i'm well jim how about you. >> good, thanks for taking my call. all you educate in how the community with your wisdom of inves
three more in the 400 billion united health, exxon global and -- i think there is a visa ceiling for mastercard, exxon standard oil had 100 percent sure of the market business at one time, the only oil in many places in the country was standard oil. ivf these to deal with a cyber threat first it's raging still. here is the bottom line. there is no next in nvidia it's what we call a lost, let speedy generous. you might see another one be strong for a generation, but there are other companies...
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Feb 29, 2024
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josh's jpmorgan has made a new high berkshire hathaway, mastercard >> so this speaks to strengthening of the economy, but it also is important to remember that if we are at a point where the aggressive gdp numbers are being pushed out, we're not seeing the growth on the revenue side that we had thought we would, but there's no reason that we're not going to see it six months from now you can see that the economy is percolating, and there are reasons to be positive about the second half of the year into 2025, and that, to me, is really helping what you're saying, the cyclical case. it's broadening out and it's not just tech and comcomps. >> i'm so glad you said that >> you are welcome >> augers well >> we were looking at a sector by sector basis trying to get a sense of what's really working right now, not individual names but groups, whole groups, because one of the criticisms about this current bull market is how top heavy the highest rsi in the market. if the industrials are the strongest stocks, and i think financials might be third, that's a great tape if you are thinking how is t
josh's jpmorgan has made a new high berkshire hathaway, mastercard >> so this speaks to strengthening of the economy, but it also is important to remember that if we are at a point where the aggressive gdp numbers are being pushed out, we're not seeing the growth on the revenue side that we had thought we would, but there's no reason that we're not going to see it six months from now you can see that the economy is percolating, and there are reasons to be positive about the second half of...
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these aren't competing with visa, mastercard and amex. more a card issuer. it seems like this combo flaws a different segment -- plays in a different segment of the market than jpmorgan which i think of as being a lot of it being higher end, and it also seems like card issuers these days are facing new competition from the likes of the buy now, pay later contingent that are trying to change the model. right. >> right. >> so what are the risks involved here with, if i've got the landscape right that investors should be thinking about? >> i think scale is very key in this environment. now, the price tag itself is, you know, a lot of people are pointing to will obviously get regulators' attention with regard to this is the financial system. capital one is a bank as well, so, you know, you have that dynamic. it's the ninth largest bank in the country, and you're right, they serve a different customer than a lot of the groups that we might consider competition, but there's still significant overlap in terms of the income levels they serve. that's point number one
these aren't competing with visa, mastercard and amex. more a card issuer. it seems like this combo flaws a different segment -- plays in a different segment of the market than jpmorgan which i think of as being a lot of it being higher end, and it also seems like card issuers these days are facing new competition from the likes of the buy now, pay later contingent that are trying to change the model. right. >> right. >> so what are the risks involved here with, if i've got the...
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Feb 2, 2024
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opening bell in about a minute >> one of the things that you taught me to look at, whether it be visa or mastercard, take a look at the market cap one of them is oabbvie they're going to open with a $300 billion valuation, and they're successfully navigating one of the biggest in america, which is humana. i have to hand it to gonzalez. he doesn't do any tv, mr. gonzalez, but it is very unusual to be able to handle this rob davis doesn't have to do it yet. >> at merck. >> keytruda is still there but bristol myers is trying to navigate a bunch of exclusive. i think any publicity, without becoming a public face for abvi, that's a very good job, and $300 billion is not going to -- it's hard to get that. >> let's get the opening bell and the cnbc realtime exchange at the big board, it is alto neuroscience ipo today. at the nasdaq, it is jpmorgan asset management we had flutter we had ameri sports, flutter, now this jim, ipo pipeline. >> now, yesterday, you had a great interview where the ceo came on and said he's going to use the money for growth, but in the prospectus, he said he's going to use money t
opening bell in about a minute >> one of the things that you taught me to look at, whether it be visa or mastercard, take a look at the market cap one of them is oabbvie they're going to open with a $300 billion valuation, and they're successfully navigating one of the biggest in america, which is humana. i have to hand it to gonzalez. he doesn't do any tv, mr. gonzalez, but it is very unusual to be able to handle this rob davis doesn't have to do it yet. >> at merck. >>...
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visa is a great company, mastercard, et cetera. we have the acquiring side of the business we had relationships with the at&ts and verizon and u.p.s. and fedex. we were able to work with people who were willing and wanted to provide value to our customers we provided value as well. that really worked out very well for us >> did it take a pandemic or crisis of some sort to have people think differently about wrapping those rewards in? >> it is interesting a lot of our benefits were travel-related benefits. that worked well for us. it opened our eyes to that package of benefits doesn't need to be travel related the package of benefits which drives our membership model, those benefits can be more inclusive. we have amex offers and we embedded dell benefit or adobe benefit or saks benefit in the card we started to think broader. that helped us out >> now when the company moved to change benefits as it did with delta airlines last year, delta change ticked people off you can only use the lounge so many times with so many benefits they c
visa is a great company, mastercard, et cetera. we have the acquiring side of the business we had relationships with the at&ts and verizon and u.p.s. and fedex. we were able to work with people who were willing and wanted to provide value to our customers we provided value as well. that really worked out very well for us >> did it take a pandemic or crisis of some sort to have people think differently about wrapping those rewards in? >> it is interesting a lot of our benefits...