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Stock Market & Financial Investment News

News Breaks
April 29, 2014
07:15 EDTWMT, MGIMoneyGram revising 2014 outlook due to Walmart-to-Walmart white label product
While first quarter results were strong and in line with its full-year forecast, the Company is revising its 2014 outlook due to the recently introduced Walmart-to-Walmart white-label product. In the first quarter, the Company earned 12 percent of total company revenue and 9 percent of total company revenue less commissions from its U.S.-to-U.S., Walmart-to-Walmart transactions. Due to the limited time the competing product has been in the market, it is uncertain what the cannibalization effect or competitive price environment will be for the U.S.-to-U.S. business. In an effort to mitigate any potential negative impact, management has initiated an accelerated cost-reduction program along with a strengthened emphasis on growing its U.S. outbound sends as well as sends originated outside of the U.S. Considering these factors, the Company now estimates full-year constant currency revenue growth to be in the range of 1 to 3 percent and estimates full-year constant currency Adjusted EBITDA growth to be in the range of 0 to 2 percent. As previously announced, the Company anticipates incurring $30 to $40 million in cash outlays over the next two years for reorganization and restructuring costs. These activities are estimated to generate annualized pre-tax cost savings of approximately $15 to $20 million on a run-rate basis exiting 2015. In the first quarter, total expenses were $3.1 million.
News For MGI;WMT From The Last 14 Days
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April 17, 2015
15:42 EDTWMTWal-Mart to slash layer of in-store management, Bloomberg reports
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April 16, 2015
06:05 EDTWMTFormer Wal-Mart CEO Duke heads to Carlyle Group, WSJ reports
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April 14, 2015
18:32 EDTWMTCourt rules Wal-Mart can reject shareholder proposal on gun sales, WSJ says
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April 12, 2015
15:43 EDTWMTWal-Mart's Walton family puts shares in newly formed trust, Reuters says
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April 10, 2015
18:29 EDTWMTWal-Mart says Walton family to place 6% of shares in trust, Reuters reports
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April 9, 2015
09:02 EDTMGIMoneyGram signs new agreement with Haggen
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April 8, 2015
12:05 EDTWMTWal-Mart: Pay raises for over 34,000 associates in Florida effective this week
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06:19 EDTWMTWal-Mart de Mexico reports March sales up 9.4% from last year
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05:16 EDTWMTWalmart announces pay raises for over 72K associates in TX go into effect
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