Visa and 2 Stocks Riding 52-Week Highs
Rentech Nitrogen Partners (NYSE:RNF) reported that its majority-owned subsidiary, Rentech Nitrogen Partners, L.P., has finalized its previously announced purchase of Agrifos LLC. The transaction should be accretive to cash distributions per unit paid by Rentech Nitrogen to its unitholders starting next year. Shares closed down 0.08 percent on the day at $39.68, and have been traded in a 52-week range of $16.04 to $40.05.
UBS (NYSE:UBS) and Deutsche Bank’s (NYSE:DB) divergent outcomes in fixed-income trading exhibit changes that could pressure additional banks to join the former in largely exiting the business, according to the Wall Street Journal. Shares closed down 2.63 percent on the day at $15.15, having been traded in a 52-week range of $9.78 to $14.78.
Visa (NYSE:V), MasterCard (NYSE:MA) and major banks could see costs of as much as $7.25 billion from a merchant credit-card fee settlement. However, around 1,200 businesses covered by the resolution are urging that a district judge in New York not award initial approval to the deal, citing objection papers to be submitted to the court, according to Bloomberg. Visa shares closed down 0.33 percent on the day at $143.40, and have traded in a 52-week range of $88.78 to $143.10.
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