Fiserv Shares Plunge Amid Deepening Crisis

The financial technology powerhouse Fiserv is confronting its most severe operational challenge in decades. A devastating earnings collapse in late October has now been compounded by a significant downgrade from Morgan Stanley, which shifted its rating on the company’s stock from “overweight” to “equal weight.” This move deals another heavy blow to the already beleaguered equity.

In response to the turmoil, Fiserv has initiated a sweeping executive reshuffle. The company announced new co-presidents, a different Chief Financial Officer, and a substantially reconfigured Board of Directors, signaling a major effort to change course. During discussions with analysts, CEO Mike Lyons conceded profound internal failures. He admitted that years of deferred capital Read more...