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Stock Market & Financial Investment News

News Breaks
December 23, 2013
17:02 EDTMGIMoneyGram renews agreement with Albertsons
MoneyGram announces that it has renewed an agreement with Albertsons to offer services at more than 600 locations across the U.S. The renewed agreement with Albertsons includes provisions for a system upgrade which will allow customers to interact face-to-face with customer care agents while completing their MGI transactions.
News For MGI From The Last 14 Days
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April 21, 2014
16:40 EDTMGIOn The Fly: Closing Wrap
Stocks on Wall Street were higher for the fifth straight session. Volume remained light on this Monday following Easter, as a number of international markets remained closed. The averages spent time on both sides of the flat-line early in the trading day before settling into a narrow range in positive territory for most of the second half of the session. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index fell to 0.20 in March, matching the consensus forecast. The Conference Board's index of leading indicators rose 0.8% in March, beating the consensus forecast for an increase of 0.7%. COMPANY NEWS: Ford (F) is preparing to announce that its Chief Operating Officer, Mike Fields, will take the CEO role at the company following the retirement of current CEO Alan Mulally later this year, according to a report from Bloomberg. Shares of Ford were little changed for the session following the report, losing 2c, or 0.13%, to close at $15.98... U.S.-listed shares of British pharmaceutical company AstraZeneca (AZN) gained $5.61, or 8.84%, to $69.10 after the U.K.'s Sunday Times said Pfizer (PFE) has takeover interest in the company. Analysts had mixed opinions on the report, with Citigroup saying a bid looks "highly probable," while analysts at Bernstein think such a deal would conflict with Pfizer's strategy of getting smaller. Shares of Pfizer rose 61c, or 2.02%, to $30.86 following the report... MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), up $9.58, or 39.26%, to $33.98 after announcing plans to submit a New Drug Application to the FDA by the end of this year for the approval of eteplirsen for the treatment of Duchenne muscular dystrophy. Also higher was Advanced Micro Devices (AMD), which rose 43c, or 11.65%, to $4.12 after the semiconductor manufacturer reported earnings and revenue that topped expectations after the close on Thursday. Among the noteworthy losers was MoneyGram (MGI), down $2.01, or 13.57%, to $12.80 in its second straight losing session after Wal-Mart (WMT) announced that it was launching its own money transfer service. MoneyGram's slide today comes after the stock dropped by more than 18% on Thursday following Wal-Mart's announcement. Also lower was lululemon (LULU), down $2.64, or 5.11%, to $49.07 after analysts at Sterne Agee said the company's investor day presentation, held on Thursday, did not include a substantive plan to grow same-store sales. INDEXES: The Dow was up 40.71, or 0.25%, to 16,449.25, the Nasdaq was up 26.03, or 0.64%, to 4,121.55, and the S&P 500 was up 7.04, or 0.38%, to 1,871.89.
12:47 EDTMGIOn The Fly: Midday Wrap
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12:00 EDTMGIMoneyGram falls 15.3%
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10:54 EDTMGIMoneyGram continues sell off with Wal-Mart entering space
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10:01 EDTMGIOn The Fly: Analyst Downgrade Summary
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10:00 EDTMGIMoneyGram falls 9.5%
MoneyGram is down 9.5%, or $1.40, to $13.41
05:34 EDTMGIMoneyGram downgraded to Market Perform from Outperform at JMP Securities
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April 17, 2014
16:31 EDTMGIOn The Fly: Closing Wrap
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12:00 EDTMGIMoneyGram falls 15.6%
MoneyGram is down 15.6%, or $2.81, to $15.16
10:40 EDTMGIMoneyGram, Western Union retreat after Wal-Mart launches competing service
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10:30 EDTMGIMoneyGram shares attractive with 13% of sales at risk, says Wells Fargo
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10:29 EDTMGIWestern Union transfer share not materially hurt by Wal-Mart, says Sterne Agee
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10:00 EDTMGIMoneyGram falls 13.5%
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09:15 EDTMGIMoneyGram, Western Union slide after new money-transfer service from Wal-Mart
Shares of MoneyGram (MGI) are down 12.5% in pre-market trading and Western Union (WU) is down over 5% after Walmart (WMT) and Ria, a subsidiary of Euronet Worldwide (EEFT), announced the launch of Walmart-2-Walmart Money Transfer Service. Walmart said the service allows customers to transfer money to and from more than 4,000 Walmart stores nationwide for "up to 50% less than similar offerings on the market." Euronet shares are up nearly 8% before the open of the broader market, while Wal-Mart shares are fractionally higher.
09:11 EDTMGIMoneyGram volatility expected to move on Walmart offering money-transfer service
MoneyGram (MGI) option implied volatility is expected to move on Walmart (WMT) announcing its own money-transfer service. Overall option implied volatility of 37 is near its 26-week average according to Track Data, suggesting non-directional price movement.
07:32 EDTMGIMoneyGram to host conference call
Conference call to discuss Walmart's announcement of new service offering will be held on April 17 at 9 am. Webcast Link

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