Shares of Visa (NYSE: V) rose by 0.97% on Wednesday after the company announced that it had put $800 million of funding into its litigation escrow account.
Analysts at FBR Capital reacted positively to the news saying that the escrow deposit, which is part of the firm’s retrospective responsibility plan, will be the equivalent of purchasing $11.6 million class A shares. The company said that the announcement was positive and that after meeting with Visa executives at an investor day last week, they were more upbeat about the company.
Visa Inc. (Visa) operates the retail electronic payments network and manages a global payments brand. It facilitates global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities. Visa provides financial institutions with product platforms encompassing consumer credit, debit, prepaid and commercial payments. VisaNet, the centralized, global processing platform, enables to provide financial institutions and merchants with a range of product platforms, transaction processing and related services. In July 2010, the Company acquired CyberSource Corporation.
Shares of Visa (NYSE: V) traded up 0.97% during mid-day trading on Wednesday, hitting $70.62 during mid-day trading on Wednesday.
