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Stock Market & Financial Investment News

News Breaks
December 31, 2013
10:31 EDTMGIMoneyGram signs agreement with Bank AlJazira
MoneyGram announced an agreement with Bank AlJazira to offer its services at multiple bank and remittance centers. Saudi Arabia is the second leading remittance-sending country in the world, with an estimated $27.6B of outward remittance in 2012.
News For MGI From The Last 14 Days
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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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