New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 21, 2014
10:54 EDTEEFT, MGI, WU, WMTMoneyGram continues sell off with Wal-Mart entering space
Shares of MoneyGram (MGI), which enables consumers to transfer money, are plunging for a second straight day after Wal-Mart (WMT) announced that it was launching its own money transfer service. Today's decline also comes in the wake of a downgrade of the stock by research firm JMP Securities in a note to investors earlier today. WHAT'S NEW: MoneyGram is down over 10% today after dropping by more than 18% on Thursday. Wal-Mart on Thursday announced that it would introduce a money transfer service to allow consumers to transfer money to and from more than 4,000 Wal-Mart stores around the U.S. The new service will cost 50% less than competing offerings, the company said. The retail giant currently partners with MoneyGram to provide money transfer services at Wal-Mart stores. ANALYST REACTION: JMP Securities analyst David Scharf responded to the news by downgrading his rating on MoneyGram to Market Perform from Outperform. Money transfers among U.S. Wal-Mart stores generate 13% of MoneyGram's revenue and 9% of its gross profit, the analyst stated. If MoneyGram loses 50% of its revenue from transfers among Wal-Mart's U.S. stores, its pretax income would drop by 28%, the analyst estimated. Scharf said that he was cautious about MoneyGram going forward. WHAT'S NOTABLE: Wal-Mart's new service is being launched in partnership with Euronet Worldwide (EEFT) subsidiary Ria. Another money transfer company, Western Union (WU), saw its stock drop on Thursday, but its shares are rising this morning PRICE ACTION: In mid-morning trading, MoneyGram tumbled 11% to $13, while Western Union gained 1% to $15.50.
News For MGI;WMT;WU;EEFT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
July 30, 2015
15:04 EDTWUNotable companies reporting after market close
Subscribe for More Information
10:00 EDTEEFTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Altria Group (MO) downgraded to Outperform from Buy at CLSA... Baxter (BAX) downgraded to Market Perform from Outperform at Leerink... Changyou.com (CYOU) downgraded to Hold from Buy at Summit Research... Depomed (DEPO) downgraded to Neutral from Buy at Janney Capital... Euronet (EEFT) downgraded to Neutral from Buy at Monness Crespi... Foundation Medicine (FMI) downgraded to Market Perform at JMP Securities... Garmin (GRMN) downgraded to Underweight from Neutral at JPMorgan... Golden Star Resources (GSS) downgraded to Hold at Canaccord... Grainger (GWW) downgraded on negative catalysts at RBC Capital... Henry Schein (HSIC) downgraded to Hold from Buy at Evercore ISI... LINN Energy (LINE) downgraded to Market Perform from Outperform at Raymond James... LifeLock (LOCK) downgraded to Neutral from Buy at BofA/Merrill... LinnCo (LNCO) downgraded to Market Perform from Outperform at Raymond James... Manitowoc (MTW) downgraded to Hold from Buy at BB&T... PACCAR (PCAR) downgraded to Equal Weight on peak cycle concerns at Morgan Stanley... PG&E (PCG) downgraded to Neutral from Outperform at Credit Suisse... Pacer (PACR) downgraded to Equal Weight from Overweight at Morgan Stanley... Penn Virginia (PVA) downgraded to Sector Perform from Outperform at Scotia... Shutterfly (SFLY) downgraded to Market Perform at Raymond James... Terex (TEX) downgraded to Hold from Buy at BB&T... Total System (TSS) downgraded to Neutral at Baird... Whiting Petroleum (WLL) downgraded to Equal Weight from Overweight at Stephens... Whole Foods (WFM) downgraded to Equal Weight from Overweight at Morgan Stanley.
08:42 EDTEEFTEuronet downgraded to Neutral from Buy at Monness Crespi
Subscribe for More Information
July 29, 2015
10:07 EDTEEFTHigh option volume stocks:
Subscribe for More Information
July 28, 2015
19:12 EDTEEFTEuronet sees Q3 adjusted cash EPS 94c, consensus 90c
Subscribe for More Information
19:11 EDTEEFTEuronet reports Q2 adjusted cash EPS 78c, consensus 70c
Reports Q2 revenue $425.1M, consensus $418.15M.
18:08 EDTWMTWal-Mart warns suppliers to comply with labeling laws, WSJ reports
Last week, Wal-Mart sent a memo to hundreds of suppliers warning them to comply with labeling laws, noting that the amount inside a package should match what is printed on the outside, the Wall Street Journal reports. Reference Link
14:55 EDTWMTEarnings Watch: MasterCard reports after peers warn of currency headwinds
Subscribe for More Information
13:49 EDTWUWestern Union, CFPB in settlement pact regarding Paymap
On July 28, Paymap, a subsidiary of The Western Union Company, and the Consumer Financial Protection Bureau reached a settlement agreement regarding Paymapís marketing of its Equity Accelerator service. Under the terms of the agreement, Paymap will pay approximately $33.4M in restitution to impacted consumers who enrolled in Paymapís Equity Accelerator service between July 2011 and July 2015. In addition, Paymap has agreed to pay $5M in civil money penalties. The CFPB previously claimed that certain aspects of the marketing of Paymapís Equity Accelerator service violated the Consumer Financial Protection Actís prohibition against unfair, deceptive, and abusive acts and practices. Paymap agreed to resolve the matter without admitting or denying the CFPBís allegations. The Company expects to record a non-recurring pre-tax charge of $35.3M in its second quarter earnings. The Company had partially reserved for this matter in previous periods.
10:07 EDTEEFTHigh option volume stocks
Subscribe for More Information
July 27, 2015
08:35 EDTWUWestern Union activates money transfers into Greece
Subscribe for More Information
July 24, 2015
06:37 EDTWMTWal-Mart increases offerings in baby category
Subscribe for More Information
July 23, 2015
19:24 EDTWMTWal-Mart's Apple Pay competitor launching soon, Bloomberg says
CurrentC, the mobile payment application funded by Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and others, will see an early trial run next month, Bloomberg reported earlier, citing three people familiar with the situation. A spokesperson for Lowe's (LOW) said the consortium behind the app expects an official launch in Q3, and Bloomberg noted that CurrentC will compete with more "established" offerings such as Apple's (AAPL) Apple Pay and Google's (GOOG) Android Pay. Reference Link
05:08 EDTWMTWal-Mart acquires remaining shares of Yihaodian
Subscribe for More Information
July 22, 2015
13:25 EDTWMTWal-Mart to end overnight hours at certain stores, Bloomberg reports
Subscribe for More Information
08:38 EDTWMTNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
Subscribe for More Information
08:32 EDTWUWestern Union, Kroger extend more than 30-year relationship
Western Union (WU) announced the extension of its more than 30-year relationship with The Kroger Co. (KR). This agreement gives customers the ability to send and receive Western Union Money Transfer transactions across the United States or across the globe to more than 200 countries and territories, in minutes. In addition, Customers can purchase money orders and pay their bills at more than 2,300 Kroger Family of Store locations across 34 states.
July 21, 2015
10:01 EDTEEFTOn The Fly: Analyst Initiation Summary
Subscribe for More Information
July 20, 2015
16:43 EDTEEFTEuronet initiated with a Buy at Evercore ISI
Subscribe for More Information
13:46 EDTWMTAmazon seen eclipsing Macy's as top U.S. clothing retailer
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use