Synchrony shares slide 6% on reports that Walmart may end their 20-year card partnership

Discussion in 'Market News' started by sniper-academy, Jul 13, 2018.


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  1. sniper-academy

    sniper-academy Administrator Staff Member

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    Shares of Synchrony Financial slid 6% Thurday, after reports that Walmart Inc. is talking to Capital One Financial Corp. about taking over its popular store card. The move would end Synchrony's 20-year run as exclusive issuer of Walmart cards, according to The Wall Street Journal, which said the card is one of Synchrony's fifth-biggest accounts measured by revenue. The talks are expected to be completed in the coming weeks. Synchrony shares have fallen 15% in 2018, while the S&P 500 has gained 4.6%. Capital One shares were flat.

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