We recently published a list of 10 Firms End Stronger, Buck Muted Broader Market Trading. In this article, we are going to take a look at where Fidelity National Information Services, Inc. (NYSE:FIS) stands against other other firms that ended the week strong.
The stock market ended the shortened trading week mixed, with two of the major indices clocking in just modest movements, as investors parked funds for now while continuing to digest President Donald Trump’s tariff policies.
Among the major indices, only the S&P 500 registered gains, up 0.13 percent. In contrast, the Dow Jones fell by 1.33 percent, and the Nasdaq dropped by 0.13 percent.
Ten firms, on the other hand, ended the week strong, on the back of a flurry of catalysts that sparked buying appetite. In this article, we have detailed the reasons behind their gains.
To come up with the list, we only considered the stocks with a $2 billion market capitalization and a $5 million trading volume.
A financial analyst monitoring the stock market, with multiple screens of varying sizes and colors.
Fidelity National Information Services, Inc. (NYSE:FIS)
Fidelity National grew its share prices by 8.65 percent on Thursday to close at $74.58 apiece as investors cheered news of its proposed acquisition of Global Payments Inc.’s (NYSE:GPN) Issuer Solutions business for $13.5 billion.
According to the company, the acquisition will expand FIS’s payment product suite and deepen its relationships with financial institutions and corporate clients.
“Issuer Solutions’ globally scaled credit processing capabilities are highly complementary to FIS’s established debit processing capabilities, strengthening our broader banking and capital markets offering,” said FIS President and CEO Stephanie Ferris.
FIS will fund the acquisition through a combination of $8 billion of new debt and the value from the sale of its minority stake in Worldpay.
Concurrently, FIS entered into a definitive agreement to sell its stake in Worldpay to Global Payments for $6.6 billion. The transaction accelerates the monetization of its minority stake in Worldpay.
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This article is originally published at Insider Monkey.