SQ maybe moving higher


Square (NYSE:SQ) jumps 5.0% the day after Fiserv CEO Jeffery Yabuki describes the fintech as a threat to traditional banks in Fiserv’s call to discuss its recent agreement to acquire First Data in a $22B deal.

Nomura analyst Dan Dolev calls Fiserv’s purchase of First Data “a defensive move.”

Referring to Yabuki’s comments, says banks are starting to worry about Square because it’s appealing to bank customers, such as small businesses.