Visa fell close to 5% as the credit-card processor boosted the up-front cash payment for former subsidiary Visa Europe and cut its revenue forecast due to concerns about a weaker global economy and falling oil prices.
The Foster City, Calif.-based card processor now projects total sales will grow no more than 8%, down from a November prediction of potential double-digit gains. Visa dropped 5% to $76.75 after the close of regular trading in New York. The shares previously climbed 4.3% this year.
