What happened?
Shares of financial technology provider Fiserv (NASDAQ: FISV) jumped 12.3% in the afternoon session after the company reported third-quarter 2026 financial results, raised its Project Elevate savings target, and affirmed its full-year forecast. According to the company's press release, adjusted earnings were $1.75 a share. The reported loss of $11.17 a share came from a non-cash charge, while overall sales were about flat and Financial Solutions grew again. Fiserv doubled its cost-savings goal to $1 billion, kept its full-year earnings forecast of $7.20 to $7.40, and plans $500 million of share buybacks this quarter.
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What is the market telling us
Fiserv’s shares are not very volatile and have only had 9 moves greater than 5% over the last year. Moves this big are rare for Fiserv and indicate this news significantly impacted the market’s perception of the business.
The biggest move we wrote about over the last year was 7 months ago when the stock gained 4.7% on the news that major banks and asset managers reported first-quarter earnings that surpassed Wall Street expectations. Leading the charge, giants like BlackRock, Bank of America, and Morgan Stanley all announced profits that topped analyst forecasts, driven by a significant rebound in investment banking and robust trading activity. According to reports, Bank of America saw record equities trading, with revenues up 30%, while Morgan Stanley's trading desk saw a 25% rise.
This surge was partly due to recent market volatility, which increases trading volumes and generates higher revenues for these firms. Additionally, a healthier climate for mergers and acquisitions bolstered investment banking divisions, signaling renewed corporate confidence and providing a powerful tailwind for the financial industry to start the year.
Fiserv is down 11.2% since the beginning of the year, and at $58.26 per share, it is trading 16.6% below its 52-week high of $69.85 from January 2026. Investors who bought $1,000 worth of Fiserv’s shares 5 years ago would now be looking at only $574.23.
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