Apple (AAPL) is looking to launch a person-to-person payment service for its Apple Pay platform next year that would compete with PayPal’s (PYPL) popular Venmo platform, according to media reports. The Wall Street Journal reported Wednesday that Apple is in talks with U.S. banks to develop a mobile person-to-person payment service. Apple’s P2P service would allow consumers to send payments from their checking accounts to recipients through their
PayPal (PYPL) stock fell Thursday as the payment company said its take rate slipped, and analysts found good and bad in the Q3 earnings report. Late Wednesday, PayPal posted Q3 revenue that missed analyst expectations and gave Q4 EPS guidance that also fell short. It was the company’s first earnings report since it was spun out of eBay (EBAY). PayPal stock was down 1.5% in afternoon trading in the stock market today, near 36. Paypal has an IBD
More earnings reports flooded in late Wednesday, with Amgen (AMGN), PayPal (PYPL), Buffalo Wild Wings (BWLD) and GoPro (GPRO) leading the after-hours action: Amgen’s Q3 EPS rose 18% to $2.72, crushing views by 34 cents. Revenue grew 14% to $5.72 billion, Amgen’s best sales gain in several years. The biotech raised its full-year guidance, but the implied Q4 target may be light. Amgen’s 2016 guidance was mixed. Shares rose 1% late. PayPal’s