Showing posts with label beats. Show all posts
Showing posts with label beats. Show all posts

2011/08/03

MasterCard profit jumps 33 percent, beats Street (Reuters)

CHARLOTTE, North Carolina (Reuters) – MasterCard Inc said second-quarter profit jumped 33 percent, as inflation in the United States lifted spending volume and more international consumers used debit and credit cards. Shares rose as much as 9.4 percent.

The credit- and debit-card processor said signing up two big banks -- SunTrust Banks Inc and Sovereign Bank -- to offer MasterCard debit cards instead of rival Visa Inc's service helped boost revenue in the second quarter, and should help next quarter too.

MasterCard executives told analysts on a conference call that the company benefited from overseas customers using debit and credit cards instead of cash to make payments, a long-term trend. U.S. consumers spent more on gasoline and other goods because of rising prices, increasing payment volumes even as the economy weakened.

Analysts said MasterCard's expanding international business can offset a slowdown in U.S. spending in coming quarters.

"They're getting strength from other areas," said Shannon Stemm, a financial services analyst with Edward Jones.

MasterCard on Wednesday reported second-quarter net income of $608 million or $4.76 per share, up from $458 million, or $3.49 per share, a year earlier.

Analysts expected $4.23 per share, according to Thomson Reuters I/B/E/S.

Visa also beat analysts' expectations when it reported quarterly results last week.

MasterCard executives said they would alter their U.S. debit interchange fee structure in advance of new industry fee caps being imposed on those charges later this year.

The fees are charged to merchants for processing a customers' debit card transaction. The so-called Durbin amendment to the 2010 Dodd-Frank financial reform law placed a cap on those fees which takes effect later this year.

MasterCard's U.S. market chief Chris McWilton said the company would institute a two-tiered fee structure by October 1, with fees varying according to the size of the merchant. McWilton did not comment on how the new system relates to the Durbin amendment, or how it will affect revenue.

Last week, Visa said it would introduce a flat network participation fee, and lowered the per-transaction rate for processing all U.S. transactions.

REVENUE

MasterCard's revenue increased 22 percent to $1.7 billion as its cross-border and overseas business grew.

Overall, MasterCard's cross-border transactions rose 19.3 percent, and processed transactions increased 17.4 percent.

The company said it also gained from new processing business in the Netherlands and Brazil.

Total operating expenses increased 20 percent to $782 million. MasterCard said the rise was due to higher personnel costs related to acquisitions.

MasterCard shares were up 8.6 percent at $324.22 on Wednesday afternoon, off an earlier high at $326.46.

(Reporting by Joe Rauch, editing by Gerald E. McCormick, John Wallace and Matthew Lewis)


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2011/07/03

Djokovic beats Nadal to win Wimbledon title (AP)

WIMBLEDON, England – When Novak Djokovic realized he was the Wimbledon champion, he fell to the ground and covered the grass like a blanket.

It was a fitting celebration for a man whose court coverage was the biggest reason he was able to defeat defending champion Rafael Nadal 6-4, 6-1, 1-6, 6-3 in Sunday's final.

Djokovic, who was already guaranteed to take over the No. 1 ranking from the Spaniard on Monday, won his first Wimbledon title and extended his mastery over Nadal this season with a fifth straight head-to-head victory.

After shaking hands with Nadal at the net, Djokovic walked back out on court and crouched down. He pulled a blade or two of grass out of the manicured lawn and put it in his mouth.

"It's really hard to describe this with any words except the best day of my life, most special day of my life," said Djokovic, who tossed three of his rackets into the crowd before accepting the championship trophy. "This is my favorite tournament, the tournament I always dreamed of winning. The first tennis tournament I ever watched in my life."

Djokovic assured himself of the top ranking just by reaching the final. He opened the season with 41 straight wins, including the Australian Open title, but his 43-match winning streak came to an end against Roger Federer in the French Open semifinals.

The victory over Nadal improved Djokovic's record in 2011 to 48-1, with five of the wins coming against the Spaniard in finals — two on hard courts, two on clay and now one on grass. Sunday's win was the first grass-court title of his career.

Serbian President Boris Tadic was in the Royal Box along with several former champions to watch the match on Centre Court, and when Nadal sent a backhand long on match point, Djokovic turned to face them and dropped to the turf, lying on his back with his arms spread wide.

"When you're playing the best player in the world, Rafael Nadal, who has won two out of the last three Wimbledons, and he's always been winning the big matches against me in the Grand Slams, I had to be on the top of my game. I had to play my best and I think I played, really, probably my best match on the grass courts ever," Djokovic said. "I want to congratulate him again for having a great tournament."

During the match, it was Djokovic's incredible movement and precise shot placement that gave him the first two sets. His play dipped in the third, but it returned in the fourth to secure him a third Grand Slam title.

Nadal had won 20 straight matches at the All England Club, including the 2008 and '10 titles. He missed the 2009 tournament because of injury, but was playing in his fifth Wimbledon final in six years.

Nadal injured his left foot in a fourth-round win, but painkilling injections helped him roll through the next two rounds and into the final.

Djokovic consistently landed shots while taking advantage of any slight miscue from Nadal. The first and biggest of the opening set came in the final game, when Djokovic hit a forehand winner down the line.

Nadal followed that with a pair of unforced errors, and the second-seeded Serb won the set on the first break point of the match.

Djokovic dominated the second set, breaking Nadal twice while holding serve easily. It wasn't until the second game of the third set that Nadal finally managed to do something with Djokovic's serve, breaking for a 2-0 lead when the Serb dumped a backhand into the net.

Nadal broke again and eventually won the set, and the two traded service breaks early in the fourth. But after Djokovic held to 4-3 in the final set with four straight points, Nadal double-faulted for the first time. He lost the next two points and soon was broken again when he sent a backhand long.

"For me it's a dream another time be back in this final," said Nadal, a 10-time Grand Slam champion. "Today wasn't possible. I tried my best as always; today one player play better than me. I will try another time next year."

The loss to Djokovic on Sunday was Nadal's first in a major final to a player other than Federer.

"When I won in 2008 for the first time, the emotions was very high so I can imagine how (Novak feels) today," said Nadal, who lost to Federer in the 2006 and '07 finals. "It's a special day and another time I congratulate him."


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2011/07/02

Kvitova beats Sharapova at Wimbledon for 1st major (AP)

WIMBLEDON, England – One might reasonably have expected Petra Kvitova, not Maria Sharapova, to be betrayed by nerves in the Wimbledon final.

This was, after all, Kvitova's first Grand Slam championship match, while Sharapova already owned three major titles, including one from the All England Club. So Kvitova decided to pretend she was heading out on Centre Court to play in the fourth round.

That mindset worked. So, too, did nearly everything Kvitova tried once play began, particularly her big, flat left-handed groundstrokes that pushed Sharapova back on her heels. In a surprisingly lopsided final, Kvitova beat the higher-seeded, yet shakier, Sharapova 6-3, 6-4 Saturday to win Wimbledon for her first Grand Slam trophy.

"I was surprised how I was feeling on the court," Kvitova said, "because I was focused only on the point and on the game and not on the final."

If there were those who wondered how the eighth-seeded Kvitova would handle the setting and the pressure, her coach did not.

Indeed, David Kotyza had an inkling his new pupil possessed the right stuff to win titles shortly after they began working together about 2 1/2 years ago. That's because he was wowed by the several pages of handwritten answers Kvitova supplied for a questionnaire he gave her back then — and has kept to this day.

"I was really surprised about how she thinks about tennis, how clever she is. She told me her advantages, disadvantages, what she has to improve," Kotyza said, then pointed a finger to his temple and added: "Her brain is a big advantage for this game."

When she was a kid growing up in Fulnek, Czech Republic — population: 6,000 — and practicing an hour or so after school each day, Kvitova didn't count on becoming a professional tennis player. She simply wasn't that good, yet. Clearly, she's a quick study.

Before Wimbledon in 2010, Kvitova's career record on grass was 0-4. She is 16-2 on the slick surface since, including a run to the semifinals here last year before losing to Serena Williams.

At 21, Kvitova is the youngest Wimbledon champion since — you guessed it — Sharapova was 17 in 2004. Kvitova is also the first Czech to win the tournament since Jana Novotna in 1998.

Plus, Kvitova is only the third left-handed woman to win the grass-court Grand Slam tournament. The last was Martina Navratilova, who won her ninth Wimbledon title in 1990, a few months after Kvitova was born.

"I'm thrilled for her. She played brave tennis, and she deserved to win. She was by far the better player," said Navratilova, who was born in Czechoslovakia and sat near Novotna in the Royal Box on Saturday. "I don't think this is the only time she'll win here. It's very exciting. A new star."

That last phrase was being uttered by many people around the grounds after Kvitova managed to make Sharapova look rather ordinary.

Consider: Until Saturday, Sharapova had won all 12 sets she played over the last two weeks. But, as Sharapova's coach Thomas Hogstedt summed up afterward: "One played well. The other didn't play well. Maria didn't play as good as she can."

That was, at least in part, Kvitova's doing.

She compiled 19 winners, most by zipping her heavy forehands and backhands from the baseline, where her 6-foot frame and long arms helped her get to seemingly out-of-reach balls.

"She created offensive opportunities from tough positions on the court," Sharapova said. "Sometimes it's just too good."

Kvitova also broke Sharapova five times, anticipating where serves were headed.

It helped that Sharapova double-faulted six times, although at least those were fewer than the 13 the Russian hit in the semifinals.

"She performed incredible. Sometimes, when you don't know what to expect and you don't know how you're going to feel, sometimes you play your best, because you have that feeling of nothing to lose," said the fifth-seeded Sharapova, who was playing in a major final for the first time since right shoulder surgery in October 2008. "She went for it, absolutely."

What really was odd was seeing the experienced and normally gritty Sharapova bothered by distractions such as the swarms of tiny greenflies that showed up Saturday or the occasional clap or yell that came from the stands during points.

Even more stunning was the way Sharapova crumpled at key moments. One example: She double-faulted twice in a row to lose serve and fall behind 4-2 in the first set. Sharapova turned her back to the court and gave herself a little lecture, then smacked herself on her left palm with her racket.

Kvitova — now 4-1 in tournament finals this year — broke again to begin the second set, capping that game with a running forehand that caught the back edge of the baseline. The women exchanged four consecutive breaks in the middle of that set, before Kvitova — not Sharapova — gathered herself.

Ahead 4-3, but trailing 15-30 while serving, Kvitova hit three straight service winners to get to 5-3.

"She served quite hard. Her second serve was pretty big as well. She was going for it, for the second serve," Sharapova said. "I felt like I could have reacted a little bit better."

Credit Kvitova also for being at her steadiest in the most resolve-testing moments. She served out both sets at love, including with a 105 mph ace on match point.

What was running through her head right then?

"I have to do it now," she would say later.

After that last point — one last nerve-free point — Kvitova raised both arms, then dropped to her knees. A raucous celebration ensued in her guest box, including some overzealous chest-bumping that left one man knocked off his feet. Kvitova's allotted seats were completely filled — with her coach, parents, two brothers and Vogue editor-in-chief Anna Wintour, among others — while Sharapova's section had only her agent, coach, hitting partner and fiance, New Jersey Nets guard Sasha Vujacic.

"When you lose in the final, you feel like the biggest loser in a way, but Maria is on the right track. She's working hard," Vujacic said. "She needed a lot of time to come back, and I think if she stays on the same road, there are many good things ahead of us."

Now there will be similar expectations of Kvitova.

Kotyza, her coach, said Kvitova's best quality probably is that "she's just an ordinary girl. She's standing with both feet on the ground. And I think it's very, very important for ... these matches. Because she's 'OK, just hit the ball, and we will see.'"

Asked after Saturday's victory when she first realized she might one day win a Grand Slam title, Kvitova smiled, tucked some strands of hair behind her ear and replied: "Probably yesterday."

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Follow Howard Fendrich at http://twitter.com/HowardFendrich


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