Diamonds and Dogs
4/3/13Global Payments Inc. (GPN)
Global Payments had its card declined today, with shares down 9.18% at $44.51. The electronic payment company saw its shares fall after the company announced it missed on earnings. For the third quarter, Global Payments said its net income rose nearly 4% to $67.9 million, or $0.87 per share, and revenue grew 8% to $578.7 million. Analysts were expecting earnings of $0.89 per share on revenue of $580.4 million. Management said that the quarter's revenue jumped in the US, Europe, and Asia. However the earnings miss came from a decline in revenue in Canada. Global Payments is trading in its 52-week range of $39.37-$51.24.
Niska Gas Storage Partners LLC (NKA)
Niska Gas Storage is heating up today, trading up 14.09% at $14.33. The natural gas storage company saw its shares jump after news of restructuring and elimination of subordinate units. In the restructure, Niska will convert old subordinate units into incentive distribution rights (IDRs). Carlyle/Riverstone Energy owns all of the old subordinate and agreed to the conversion. This restructuring eliminates the requirement to pay the subordinated unit distribution prior to increasing distributions on the company's common units. Niska Gas Storage traded up near its 52-week high of $14.55.
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