Why MoneyGram Shares Soared
Oct 1st 2012 4:17PM
Updated Oct 1st 2012 4:30PM
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: Through a freshly inked three-year agreement, MoneyGram will continue providing its branded financial services throughout Wal-Mart stores in the U.S. and Puerto Rico, including money transfers, bill payments, and money orders. It's an extension of the two companies' 13-year relationship.
Now what: This is the fourth time that MoneyGram has renewed the deal with Wal-Mart since 1999, and it technically begins in April of next year. Investors are cheering today for MoneyGram's continued presence throughout Wal-Mart's wide network of stores. The deal renewal removes any potential uncertainties, and the bulls were out in full force today.
Interested in more info on MoneyGram? Add it to your watchlist by clicking here.
The article Why MoneyGram Shares Soared originally appeared on Fool.com.Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
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