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Why Visa and Mastercard Are Rising Today
Shares of the two largest payment rails, Visa (NYSE: V) and Mastercard (NYSE: MA), had risen nearly 8% and 6%, respectively, as of 10:22 a.m. ET today after Visa reported strong earnings results for its second fiscal quarter of the year. Mastercard, which will report its latest earnings results tomorrow morning, is also benefiting considering how similar the two companies are. “The Omicron variant impacts were short-lived and the global economic recovery that began in the middle of last year continued,” Visa CEO Alfred Kelly Jr. said in an earnings statement.
