Shares of Visa gave the Dow a boost on Monday making it TheStreet’s Move of the Day. Visa moved higher after Costco chose the company as its credit card network for all stores in the U.S. and Puerto Rico beginning April 1, 2016. Visa will share the relationship with Citigroup which will offer a Costco-branded credit card. Costco’s new relationship with Visa replaces a 16-year partnership with American Express. Since the termination of that lucrative relationship in mid-February, AmEx shares have tumbled nearly 5%. Visa was one of the best performers on the S&P 500 and Dow over Monday’s session.
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