Both First Data Corp. (FDC) and Concord EFS (CEFT) have experienced significant declines in the prices of their common stock over the last few days.
FDC, currently trading below $33 per share, is scheduled to announce earnings tomorrow morning before the market opens and Morgan Stanley analyst David Togut writes this morning that he views the recent price weakness as a buying opportunity.
CEFT is also trading lower this morning with its stock falling 4.5% to $26.28. Intraday low was $26.03. CEFT announces earnings on July 30th. The company gave an investors’ presentation at a June 25th William Blair conference.
Update: FDC closed at $32.58 after hitting an intraday low of $31.45. CEFT closed at $26.36 after hitting an intraday low of $25.63.