Posts Tagged ‘Projection’

Fidelity National Information Services Gains on Strong Q2 Projection

Friday, September 3rd, 2010


Fidelity National Information Services Inc (FIS) is on the rise after it projected second quarter earnings between 45 cents and 47 cents a share. Analysts polled by FactSet Research had expected the banking technology group to post earnings of 46 cents a share. The group also said it would buy back up to $2.5 billion of its stock partly with $1.2 billion in new debt. Some of the debt, with maturity rates between seven and ten years, will be used to pay off old debt related to its acquisition of Metavante Technologies Inc. Shares in the Jacksonville, Florida-based company opened at $27.49, and have traded between $19.17 and $30.78 over the past 12 months.