Best Stocks for 2008: Breakout for MasterCard (MA)


For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"My more conservative idea for 2008 is MasterCard (NYSE: MA)," says relative strength expert Dan Sullivan in The Chartist. "The card for 'everything else' is the credit card of choice for millions of Americans. MasterCard offers credit payment solutions, processes payment transactions, and also provides consulting services to customers and merchants.

"Despite a sluggish housing market, people are still spending, and for MasterCard, that's great news. The credit giant announced that its third quarter earnings leapt 63%, helped by rising spending volume and the sale of part of its stake in a Brazilian credit and debit card network.

"Third quarter earnings were $314 million, or $2.31 per share, compared with $193 million, or $1.42 a share in the year-ago period. Third quarter results included a $70 million gain from the sale of a stake in Redecard S.A. Revenue rose 20.1% to $1.08 billion.

"MasterCard is owned in the Chartist Aggressive Account and recently broke out into record-high territory. This stock has a highly bullish chart pattern and continues to exhibit tremendous relative strength. We think this stock could be a big winner in 2008."

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 13, 2012: 02:09 AM

Hot Stocks

General Electric

18.875-0.255(-1.33)

Alcoa

10.29-0.35(-3.29)

Apple Inc

493.42+0.25(+0.05)

Google Inc 'A'

605.91-5.55(-0.91)

Bank of America

8.07-0.11(-1.34)

Wal-Mart Stores

61.90-0.06(-0.10)

Exxon Mobil Corp

83.80-1.08(-1.27)

Ford

12.44-0.25(-1.97)

Citigroup

32.925-0.735(-2.18)

IBM

192.42-0.71(-0.37)

Yahoo

16.14+0.14(+0.88)

Starbucks

48.82-0.38(-0.77)

Microsoft

30.495-0.275(-0.89)

Home Depot

45.33+0.06(+0.13)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

    BioHealth Investor Headlines

    WalletPop Headlines

    DailyFinance BlackBerry App

    My Portfolios

    Track your stocks here!

    Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

    BloggingStocks Partners

    More from AOL Money & Finance

    BioHealth Investor Headlines

    Page Loaded in 1329116998622 ms.