Workday Makes a Strong Debut and 2 Morning Hot Stocks to Watch Today
A $ 6 billion class-action settlement between Visa (NYSE:V), MasterCard (NYSE:MA) and banks and retailers nationwide, relating to arbitrarily high card swipe fees, became public in July. However, according to the WSJ, over half of the 19 retailers and trade groups that filed the suit are apparently not happy with the settlement and plan to block the deal – an application seeking preliminary approval of the settlement is expected to be moved next week in the US District Court in Brooklyn, New York. “Unfortunately the proposed settlement doesn’t accomplish what we set out to do, and it prevents us from getting additional reforms in the courts in the future,” said Peter Larkin, president of the National Grocers Association. Wal-Mart (NYSE:WMT) and Target (NYSE:TGT) have also been critical about the settlement.
Tesla Motors (NASDAQ:TSLA) sets October 19 as “Supercharging Day” when it’s 440 volt superchargers, located near restaurants, fast food, attractions and shopping at six locations in California, will become operational. The superchargers can top up batteries for an additional range of 150 miles within half an hour.
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Workday (NYSE:WDAY), provider of of enterprise-class HR software, makes a strong debut, opening at $ 48.05, which is almost 72% higher than the IPO issue price of $ 28.