Fiserv Appoints Takis Georgakopoulos As CEO, Reaffirms FY26 Outlook; Stock Down In Pre-Market

Global stocks fell as chip and AI shares dropped after Samsung Electronics’ preliminary earnings missed expectations. WTI crude jumped over 5% after attacks near the Strait of Hormuz and the US revoked an Iran oil waiver. US 10-year yields rose to about 4.535%. Movers included Intel, SOXX, and energy gains in DVN and OXY; Rivian fell on a share sale.

Fiserv shares rose about 4% after The Wall Street Journal reported that large banks including JPMorgan Chase, Bank of America, Wells Fargo and PNC are considering buying a payments processing network from Fiserv. The banks reportedly seek to use an ownership exception to the Durbin Amendment debit fee caps. JPMorgan declined to comment; Fiserv and others did not respond.

Markets slipped as chip stocks fell after Samsung Electronics’ preliminary results missed expectations. The iShares Semiconductor ETF (SOXX) dropped over 6%, with declines across major semiconductor names. WTI rose more than 2% on reports of attacks near the Strait of Hormuz, lifting inflation expectations and pressuring US Treasuries. Rivian fell on a share offering; Crinetics surged on Vertex’s ~$10B buyout.

Fiserv (FISV) rose about 2% on Tuesday after Reuters reported management was in talks with several banks about selling STAR Network, its debit card processing unit. Reuters cited unnamed sources and said potential buyers include Bank of America, JPMorgan, Wells Fargo, and PNC. Fiserv said STAR serves 115M+ debit card holders and 2,800+ institutions.

Global stocks slipped in premarket as Samsung Electronics’ preliminary results missed some expectations, with Samsung shares down up to 11% in Seoul and chip peers (Micron, SanDisk) falling 5%+. S&P/Nasdaq futures were lower; Brent rose ~1.5% above $73 after an Iran-linked attack on a Qatari LNG ship. Vertex agreed to buy Crinetics for $85/share cash.

Premarket movers: Fiserv rose >5% after WSJ sources said it discussed selling its debit-card payments infrastructure to banks including JPMorgan and Bank of America. Vertex will buy Crinetics in a $10B deal; Crinetics shares roughly doubled. First Solar gained ~3% on a Deutsche Bank upgrade. Micron fell ~5% on Samsung-led AI-chip sentiment; Rivian fell ~9% after guidance beat but a 75M-share raise. Kospi slid >4%; EWY down ~4.6%.