【出版时间及名称】：2010年美国数据处理行业前景展望
        【作者】：摩根大通
        【文件格式】：pdf
        【页数】：63
        【目录或简介】：

Table of Contents
PM Summary.............................................................................5
2009 in Review..........................................................................8
Payment Processing ..............................................................10
PM Summary .............................................................................................................10
Key Themes ...............................................................................................................11
Key Investment Risks ................................................................................................14
Still Resilient Secular Trend ......................................................................................15
Macro Factors (Retail Sales and Gas Prices) .............................................................16
Payroll & HR Processing .......................................................18
PM Summary .............................................................................................................18
Key Themes ...............................................................................................................18
Key Investment Risks ................................................................................................19
Macro Factors ............................................................................................................20
Employment and Unemployment ..............................................................................20
Interest Rates and Stock Performance........................................................................21
Payroll Model – The Waterfall ..................................................................................22
Historical Stock Performance ....................................................................................24
Bank/Broker Processing........................................................28
Key Themes ...............................................................................................................28
Stock Performance.....................................................................................................30
Investment Risks....................................................................31
Revising 2010 Estimates and Ratings ..................................32
Ratings Changes ........................................................................................................32
Estimate Changes.......................................................................................................32
Financial Summaries..............................................................34
Price Targets & Valuation ......................................................36
Summary Views.........................................................................................................41
Estimate Summary .................................................................46