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First Data shares could rise more than 70 percent: Barron’s

The payments processor, who have seen shares fall 20 percent since the IPO in 2015, making progress strengthening the balance sheet and the recover...

 

First Data shares could rise more than 70 percent: Barron's

The payments processor, who have seen shares fall 20 percent since the IPO in 2015, making progress strengthening the balance sheet and the recovery of its business, Barron’s said.

Under Chief Executive Officer Frank Bisignano, First Data has improved its technology, pay off debts and creditors to postpone to 2021 $ 5 billion in debt payments that were payable in 2018. Improved technology and his sales technique aid First Data needs to generate more revenue, Barron’s said.

First Dates are betting on a new platform called Clover helping to manage small businesses payments easier. The product is intended to increase customer loyalty.

First Data’s shares at about $ 11 trading eight times estimated 2016 earnings that are less than half the level of a number of competitors, added Barron’s.

(Reporting by Olivia Oran; Editing by Chris Reese)

Steve Ballmer takes 4 percent stake in Twitter, owns more than CEO

 

Steve Ballmer takes 4 percent stake in Twitter, owns more than CEO

The participation of Ballmer worth $ 800 million based on $ 21 billion market value of Twitter. Only co-founder Evan Williams and Saudi billionaire Prince Alwaleed bin Talal have more interest among individual investors.

Twitter shares rose 5.6 percent to $ 31.34 on Friday, hours after Ballmer tweeted from an unverified account that he developed his game over the last month.

His new Tweet hailed “moments” feature of Twitter, which is the best tweets commissioner of the day, and the appointment of Dorsey as permanent CEO last week.

“Bonn Twitter employment, innovation twitter moments, Jack Ceo, leaner, more focused” the tweet said. “I’m glad I bought 4% in recent months”.

Twitter declined to comment. Ballmer himself not return requests for comment.

Steve Ballmer, in February 2014 the Los Angeles Clippers bought after his retirement as CEO of Microsoft, has a personal fortune of about $ 21.5 billion, him 35th richest person do in the world, according to Forbes magazine .

But his support as an investor does not guarantee success on Twitter. Ballmer laughed famous iPhone first Apple Inc. and Microsoft shares fell over the 14 years of his leadership.

Ballmer now owns more than Twitter co-founder and CEO Dorsey, who owns 3.2 percent, according to Thomson Reuters data. Williams is the largest individual shareholder with about 7.5 percent, followed by Alwaleed by about 5.2 percent.

Similar to alwaleedbinT words tweeter of Ballmer said. Alwaleed and his investment company, Kingdom Holding Co <4280.SE>, said earlier this month that they had increased their stake in Twitter for more than 5 percent.

Ballmer investment is a sign that Twitter’s efforts to revive growth is appreciated in Dorsey, Monness, Crespi, Hardt & Co. Inc. analyst James Cakmak says

“I think it’s just another proof point that the step they are taking the company to growth is in resonance, & redirect” – Cakmak said.

Twitter has some new announcements Dorsey, who also served as CEO in 2008, returned on a permanent basis last week. Tuesday, Twitter said it will lay off about 8 percent of the workforce, and on Wednesday he hired Google Inc Executive Omid Kordestani as executive chairman.

FBN Securities analyst Shebly Seyrafi said the participation of Steve Ballmer may be a sign of widespread confidence in Dorsey and his strategy

“It depends on the time of investment. I’m not sure how many of its 4 percent before Dorsey was acquired was named interim CEO or Permanent”.

(Reporting by Yasmeen Abutaleb in San Francisco and Anya George Tharakan, Krishna Kumar and Devika Lehar Moon in Bengaluru, edited by Ted Kerr, Savio D’Souza and Bill Rigby)