Win a battleground, investors cheer.
First Data saw a turnaround in its North American global business solutions (GBS) operations in the third quarter of 2016, notching the first positive results in several quarters, and that was fuel for a rally of as much as 12 percent intraday in the company’s stock price.
The company said Monday (Nov. 7) that the unit saw 1 percent year-over-year top-line growth to $819 million, coming after two straight quarters of declines north of 2 percent.