Keep an eye on shares of VeriFone Systems (PAY) in Wednesday’s trading session. The stock may fall lower despite its first quarter earnings beat, after issuing weak guidance. For its fiscal first quarter, the company posted better-than-expected profits and revenue. However, VeriFone’s outlook is disappointing. The company’s forecasts for both the second quarter and the full year came up short of analysts’ expectations. Shares fell about 3% on heavy volume to close the regular session at $33.19, but the stock continues to decline further by about 1% to $32.85 in after-hours trading. TheStreet’s Kurumi Fukushima reports in New York.
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