Payment Processors: FDC and Concord EFS

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.

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