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Stock Market & Financial Investment News

News Breaks
April 21, 2014
10:00 EDTMGIMoneyGram falls 9.5%
MoneyGram is down 9.5%, or $1.40, to $13.41
News For MGI From The Last 14 Days
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August 3, 2015
11:34 EDTMGIMoneyGram upgraded to Hold from Sell at Evercore ISI
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July 31, 2015
12:11 EDTMGIOn The Fly: Top stock stories at midday
The Wall Street averages began the session slightly lower, soon turned mixed and have all returned to positive ground near midday. The Nasdaq has been the strongest of the indexes throughout. The S&P 500 is trying to hold onto its gain of about 1.5% for the month as July comes to a close. ECONOMIC EVENTS: In the U.S., the employment cost index for the second quarter increased 0.2%, versus expectations for an increase of 0.6%. The Chicago PMI business barometer index bounced to 54.7 in July, topping the expected reading of 50.8. The final reading of the University of Michigan consumer confidence index for July came in at 93.1, which was down from the 93.3 flash reading and below the 94 that was expected. In Europe, Athex stated that the Athens Stock Exchange will reopen on August 3. COMPANY NEWS: Shares of Exxon Mobil (XOM) and Chevron (CVX) declined 2.9% and 3.6%, respectively, after both energy majors reported lower than expected earnings due to falling oil prices. Exxon noted that its Downstream and Chemical segment earnings increased significantly from the second quarter of last year, but that those higher earnings were more than offset by the impact of weaker Upstream realizations and lower asset management gains. Chevron, meanwhile, recorded impairments of $1.96B and other charges of approximately $670M relating to project suspensions and adverse tax effects, all of which stemmed from a downward revision in the company’s longer-term crude oil price outlook. MAJOR MOVERS: Among the notable gainers was Coca-Cola Enterprises (CCE), which rose 13% after the Wall Street Journal reported that the company is in advanced merger talks with Coca-Cola bottlers for Germany and the region of Spain, Portugal and Andorra. Also higher following their earnings reports were MoneyGram (MGI), which gained 27%, Expedia (EXPE), which added 10%, and SkyWest (SKYW), which rallied 20%. Among the noteworthy losers was FireEye (FEYE), which fell 5% after reporting quarterly results and announcing that CFO Michael Sheridan intends to leave the company. Also lower following their earnings reports were Ocwen Financial (OCN), which fell 28.5%, and Hanesbrands (HBI), which dropped 10%. INDEXES: Near midday, the Dow was up 10.36, or 0.06%, to 17,756.34, the Nasdaq was up 18.60, or 0.36%, to 5,147.38, and the S&P 500 was up 3.98, or 0.19%, to 2,112.61.
09:25 EDTMGIOn The Fly: Pre-market Movers
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07:09 EDTMGIMoneyGram sees Q4 double digit currency revenue growth, consensus $360.61M
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07:09 EDTMGIMoneyGram sees FY15 revenue growth to be flat, consensus $1.41B
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07:08 EDTMGIMoneyGram appoints W. Alexander Holmes as CEO effective January 1, 2016
MoneyGram announced that its board has chosen W. Alexander Holmes to serve as MoneyGram's next CEO, beginning on January 1, 2016. He will succeed MoneyGram chairman and CEO Pamela H. Patsley, who on the same date will assume the role of executive chairman for a minimum of two years. Holmes, currently the company's executive vice president, CFO and COO, will join the MoneyGram Board by the start of his tenure as CEO.
07:07 EDTMGIMoneyGram reports Q2 adjusted EPS 23c, consensus 15c
Reports Q2 revenue $358.8M, consensus $346.75M. Reports Q2 money transfer transaction growth 6%.

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