Corpay Named the Official Foreign Exchange Provider of Major League Soccer
TORONTO--(BUSINESS WIRE)--Corpay, Inc.*, (NYSE: CPAY) a global leader in corporate payments, is pleased to announce that Corpay's Cross-Border business has entered into a multi-year agreement with Major League Soccer (MLS) to become the league's Official Foreign Exchange (FX) Provider.
Through this collaboration, MLS will have access to Corpay Cross Border's innovative solutions to help mitigate foreign exchange exposure from day-to-day business needs. Additionally, Corpay Cross-Border's award-winning platform will enable the league to manage global payments from a single point of access.
"The Corpay Cross-Border team is honored to be named the Official FX Provider for MLS, the top-tier professional soccer league in the United States and Canada," said Brad Loder, Chief Marketing Officer, Corpay Cross-Border Solutions. 'I am confident that MLS and the league's network of corporate business partners will benefit from access to our comprehensive cross-border payments and currency risk management solutions, along with our experience gained within the world of sports.'
'We are thrilled to welcome Corpay as the Official Foreign Exchange Provider of MLS,' said Greg Millard, MLS SVP, Brand Alliances. 'MLS is part of the global game, and we look forward to working with Corpay to make our foreign exchange practices more efficient.'
The announcement between MLS and Corpay arrives during a period of great momentum behind the sport of soccer in North America. As MLS is underway in its 30 th season, the U.S. is also preparing to host the Concacaf Gold Cup and FIFA Club World Cup taking place in 2025, as well as the FIFA World Cup across the U.S., Canada and Mexico in 2026.
About Corpay
Corpay, Inc. (NYSE: CPAY) is a global S&P500 corporate payments company that helps businesses and consumers pay expenses in a simple, controlled manner. Corpay's suite of modern payment solutions help its customers better manage vehicle-related expenses (such as fueling and parking), travel expenses (e.g. hotel bookings) and payables (e.g. paying vendors). This results in our customers saving time and ultimately spending less. Corpay Cross-Border refers to a group of legal entities owned and operated by Corpay, Inc.
Corpay – Payments made easy. To learn more visit www.corpay.com.
About Major League Soccer
Headquartered in New York City, Major League Soccer -- celebrating its 30th season in 2025 -- features 30 clubs throughout the United States and Canada. All MLS, Leagues Cup, and select MLS NEXT Pro and MLS NEXT matches can be watched through MLS Season Pass, available on the Apple TV app on Apple devices, smart TVs, streaming devices, set-top boxes, and game consoles, and the web at tv.apple.com. MLS Season Pass features the most expansive and accessible lineup of programming ever for MLS fans. For more information about MLS, visit mlssoccer.com. For more information about the Apple TV app, visit apple.com/apple-tv-app.
*'Corpay' in this document primarily refers to the Cross-Border Division of Corpay, Inc. https://www.corpay.com/cross-border; a full listing of the companies that are part of Corpay Cross-Border is available here: https://www.corpay.com/compliance.
** Subject to credit and compliance approval from the relevant Corpay company.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
28 minutes ago
- Yahoo
Sprinklr (CXM) Stock Trades Up, Here Is Why
Shares of customer experience software provider Sprinklr (NYSE:CXM) jumped 5.7% in the morning session after the company reported a "beat-and-raise" quarter (Q1 FY-26). Sprinklr raised its full-year revenue and EPS guidance, which blew past analysts' expectations. The quarter was also solid as its revenue, EPS, and adjusted operating income exceeded Wall Street's estimates. The big win came on margins. Operating margin on a non-GAAP basis climbed to 18% from 11% last year, helped by pulling back on sales and marketing costs. That made a real difference in earnings per share, which jumped more than 30% and blew past Wall Street's estimates. Overall, we think this was a solid "beat-and-raise" quarter. After the initial pop the shares cooled down to $8.75, up 2.2% from previous close. Is now the time to buy Sprinklr? Access our full analysis report here, it's free. Sprinklr's shares are somewhat volatile and have had 12 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 12 months ago when the stock dropped 24.2% on the news that the company reported weak first quarter results and provided full-year revenue guidance below expectations after being lowered. Also, its revenue guidance for next quarter missed Wall Street's estimates. The company called out a soft demand environment with longer sales cycles and heightened budgetary scrutiny. In addition, it observed higher churn in its core product suites due to reduced marketing spend, elimination of programs, and seat reductions. These issues contributed to the weak guidance as management expects the elevated churn level to continue for the full year FY '25. On the other hand, Sprinklr recorded significant improvement in new large contract wins. Overall, the guidance was quite bad and weighed on the stock. Following the results, D.A. Davidson downgraded the stock's rating from Buy to Neutral, while Cantor Fitzgerald also lowered the rating from Overweight to Neutral. Sprinklr is up 2.4% since the beginning of the year, but at $8.75 per share, it is still trading 19.3% below its 52-week high of $10.84 from June 2024. Investors who bought $1,000 worth of Sprinklr's shares at the IPO in June 2021 would now be looking at an investment worth $496.87. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
Yahoo
44 minutes ago
- Yahoo
Clean Energy Investments Worth $14 Billion Have Already Been Pulled In 2025—'Returning Us To A Country Powered By Coal And Gas Guzzlers'
Billions in clean energy projects are getting scrapped this year as political decisions in Washington make the future of renewable power more uncertain than ever. According to an analysis by a nonpartisan business group, E2, more than $14 billion worth of U.S. clean energy investments have been canceled or delayed in just the first few months of 2025. The main reason is fear. Specifically, there is concern that Congress may soon eliminate the clean energy tax credits enacted in 2022 as part of the Inflation Reduction Act. The House has already approved a bill that would do just that, and companies are responding by halting projects. Don't Miss: Invest where it hurts — and help millions heal:."Businesses are now counting on Congress to come to its senses and stop this costly attack on an industry that is essential to meeting America's growing energy demand," E2 Communications Director, Michael Timberlake, said in the report. Just in April, companies cancelled or delayed $4.5 billion in clean energy and electric vehicle-related investments, according to the report. Projects getting the axe include a $1.2 billion battery plant in Arizona, a major EV factory shutdown in Michigan, and a paused hydrogen fuel cell project in South Carolina. Many of these losses are happening in Republican-led districts—areas that have so far gained the most from clean energy expansions. E2 estimates that more than $12 billion in canceled projects and over 13,000 lost jobs are in red districts. Trending: Here's what Americans think you need to be considered wealthy. "The House's plan, coupled with the administration's focus on stomping out clean energy and returning us to a country powered by coal and gas guzzlers, is causing businesses to cancel plans, delay their plans, and take their money and jobs to other countries instead," E2's Executive Director Bob Keefe told the Associated Press. E2 estimates that since the Inflation Reduction Act passed, companies have announced nearly 400 major clean energy projects across 42 states and Puerto Rico, worth an estimated $132 billion. But 2025 is now shaping up to be a turning point, and not in a good way. Battery and EV projects have been hit the hardest. Battery storage alone accounts for over $10 billion in canceled plans. EV manufacturers have seen around 10,000 jobs disappear alongside more than $6 billion in lost all the news is negative. A handful of companies are still making bets on U.S. clean energy. April brought $486 million in new project announcements, including a $400 million solar wafer factory in Michigan by Corning (NYSE:GLW), which could create 400 jobs, and a $9.3 million investment by a Canadian solar firm in North Carolina. Even so, the scale of cancellations is far outpacing new activity. Timberlake said the entire industry is holding its breath. "If the tax plan passed by the House becomes law, expect to see construction and investments stopping in states across the country as more projects and jobs are cancelled. Businesses are now counting on Congress to come to its senses and stop this costly attack on an industry that is essential to meeting America's growing energy demand," he told the AP. Read Next:Can you guess how many retire with a $5,000,000 nest egg? .Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? CORNING (GLW): Free Stock Analysis Report This article Clean Energy Investments Worth $14 Billion Have Already Been Pulled In 2025—'Returning Us To A Country Powered By Coal And Gas Guzzlers' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
44 minutes ago
- Yahoo
Yum! Brands Tipped For 16% Upside As Analyst Points To Strong Unit Growth, AI Investment
Goldman Sachs analyst Christine Cho upgraded Yum! Brands, Inc. (NYSE:YUM) from Neutral to Buy with a price forecast of $167. The analyst asserted that the company demonstrates a best-in-class unit growth trajectory, which stands out compared to most peers who are either below or at the low end of their stated growth algorithms. Furthermore, the analyst highlighted YUM's high franchise mix, at 98% of units, which she expressed builds relative resilience in the analyst also pointed to improved digital integration across YUM's various brands and at the enterprise level, specifically mentioning Byte! by YUM. The analyst said these digital advancements are expected to improve operational efficiency and drive top-line acceleration. Finally, the analyst emphasized Taco Bell U.S.'s sustained value leadership and the significant opportunity to accelerate international growth for the brand. Based on these considerations, the analyst indicated a 16% upside potential to the 12-month price forecast of $167, which she noted compares favorably to the 9% average upside for the rest of their coverage. The analyst revised the EBITDA estimates to $2.90 billion (from $2.91 billion) for FY25, $3.16 billion (from $3.16 billion) for FY26 and $3.43 billion (from $3.44 billion earlier). In April, Yum! Brands reported first-quarter revenue of $1.79 billion, missing the analyst consensus estimate of $1.8 billion. Adjusted EPS of $1.30 beat the analyst consensus of $1.29. The analyst highlighted several trends in the sector, including diverging brand performance, with casual dining showing more resilience year-to-date than fast food. Cho added that investors are increasingly favoring self-help narratives driven by unique traffic/market share catalysts or margin opportunities based on operational efficiency. While commodity/labor costs are relatively stable, tariffs remain a key swing factor for the second half, and companies are reluctant to raise prices given soft consumer sentiment, she said. The analyst sees elevated risk to global restaurant development plans in FY26/27, potentially pushing unit growth below the stated long-term algorithms. Price Action: YUM shares are trading higher by 0.64% to $144.89 at last check Wednesday. Read Next:Image via Shutterstock Date Firm Action From To Feb 2022 Cowen & Co. Upgrades Market Perform Outperform Dec 2021 Barclays Maintains Equal-Weight Dec 2021 Atlantic Equities Upgrades Neutral Overweight View More Analyst Ratings for YUM View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? YUM BRANDS (YUM): Free Stock Analysis Report This article Yum! Brands Tipped For 16% Upside As Analyst Points To Strong Unit Growth, AI Investment originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
