Why Fiserv Stock Topped the Market Today
It's apparently in talks to sell a major business unit.
Overview
Fiserv (NASDAQ: FISV) was serving up modest gains for its shareholders on Tuesday. The veteran fintech's stock climbed largely due to a media report that management was in discussions with several banks about selling one of its business units. This lifted the stock by nearly 2%, on a day when the benchmark S&P 500 index dipped by 0.5%.
After market close on Monday, Reuters published an article stating that Fiserv had engaged in talks with several lenders about selling STAR Network, its debit card processing unit. Citing an unnamed "source familiar with the matter," the news agency wrote that the banks engaged in discussions include Bank of America, JPMorgan Chase, Wells Fargo, and PNC.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.