Electronic payments firm VeriFone's stock drops 16 percent on disappointing revenue

September 3, 2016 at 7:00PM
FILE - In this Dec. 5, 2011, file photo, bottles of Jack Daniel's Tennessee Whiskey line the shelves of a liquor outlet in Montpelier, Vt. Spirits maker Brown-Forman Corp. said Wednesday, Aug. 31, 2016, its first-quarter net income fell 7 percent as challenging foreign exchange conditions hampered its performance in emerging overseas markets and the loss of its Southern Comfort brand cut into overall sales. (AP Photo/Toby Talbot, File)
Shares of Brown-Forman, maker of Jack Daniel’s, above, dropped 4 percent on Wednesday. (The Minnesota Star Tribune)

Chipped away: VeriFone Systems stock plunged 16 percent, to $16.81 Friday, after the maker of terminals used in electronic payments disclosed disappointing revenue, noting adoption of chip payment cards continues to go slower than expected.

Deal's off: Hershey fell 11 percent, to $99.30 Tuesday, after snack food company Mondelez International said it was walking away from its proposal to buy Hershey for roughly $25 billion after making little headway with the proposal. Hershey shares closed the week at $99.30.

New exec: United Continental rose 5 percent, to $49.45 Tuesday, after the company announced it was hiring a former American Airlines executive, Scott Kirby, to become United's new president and take over the day-to-day operations of the company. The stock closed Friday at $51.09.

Whiskey sour: Shares of Brown-Forman dropped 4 percent Wednesday as the maker of liquors including Jack Daniel's whiskey and Finlandia vodka, reported sales fell short of estimates due to weakness in emerging markets and the strong dollar, which makes U.S. goods more expensive overseas. The stock closed Friday at $48.12.

Flagging force: Customer management software developer Salesforce.com saw its shares fall 5.6 percent to $74.95 Thursday after disappointing third-quarter guidance. Shares closed Friday at $75.10.

Drugmaker deal: Cynapsus Therapeutics shares more than doubled to $39.68 Thursday after the company agreed to be acquired by Sunovion Pharmaceuticals. Its shares finished the week at $39.68.

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David Joles/The Minnesota Star Tribune

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