Western Union (NYSE:WU) Stock, Quote.Headers.trade-ideas

Western Union

Western Union provides domestic and international money transfers through its global network of about 600,000 outside agents. The company handled over 270 million transactions in 2023 and is the largest money transfer company in the world.

The Western Union

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Tech stocks soared to their best session in five months on Wednesday, ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting.

Tech Stocks On Track For Best Session In 5 Months Ahead Of Fed Meeting; Small Caps Target Highest Close Since January 2022: What&#39;s Driving Markets Wednesday?

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Tech optimism is likely to abound on Wall Street as AI-levered stocks are feeding off the strength generated by Advanced Micro Devices, Inc.‘s (NASDAQ:AMD)

Wall Street Remains On Track For AMD-Led Rebound Ahead Of Fed Decision, Meta Earnings: Analyst Says &#39;The Bull Tends To Remain&#39; Despite Near-Term Volatility

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The unfolding week&#39;s market trajectory depends on earnings from bellwether tech stocks and what the Fed has to say following its July meeting.

Apple, Amazon, Microsoft, Meta Lead The Charge As Investors Bank On Tech Cheer For Rally&#39;s Reacceleration: Week Ahead In Earnings

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Western Union's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>) short percent of float has fallen 4.31% since its last report. The company recently reported that it has 19.59 million shares sold short, which is 7.55% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.0 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Western Union Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726587916_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Western Union has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Western Union's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Western Union's peer group average for short interest as a percentage of float is 5.53%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Looking Into Western Union's Recent Short Interest

JP Morgan analyst Tien-Tsin Huang maintains Western Union (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>) with a Underweight and lowers the price target from $14 to $12.

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JP Morgan Maintains Underweight on Western Union, Lowers Price Target to $12

Tech stocks soared to their best session in five months on Wednesday, ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting. This broad tech rally was propelled by a sharp rebound in chipmakers, buoyed by robust corporate earnings and easing concerns over chip<a href="https://www.benzinga.com/markets/equities/24/07/40075799/semiconductor-stocks-set-for-strongest-day-in-5-months-as-chip-export-concerns-subside-top-wedne"> export restrictions to China.</a>
The Federal Reserve is expected to maintain interest rates at 5.25-5.50%, but market attention is fixed on Fed Chair Jerome Powell's press conference at 2:30 p.m. ET, for any hints of a potential rate cut in September, which market participants have fully priced in.
The Nasdaq 100 surged 2.7%, with 87 of its constituents in positive territory, led by Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which jumped 11%. The tech-heavy index hasn&#8217;t experienced such a rally since February 2024.
The Biden administration is planning to introduce new regulations next month to restrict the export of semiconductor manufacturing equipment to Chinese chipmakers, with key allies like Japan, the Netherlands, and South Korea being exempt, according to Reuters. 
The iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>) soared over 5%, also marking its strongest session since late February 2024.
The S&amp;P 500 also posted solid gains, rising 1.6%. Small caps, tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), increased by 1.1%, eyeing their highest close since January 2022. Blue chips climbed 0.7%.
The dollar eased 0.2%, weighed down by a disappointing July private employment report released earlier by the ADP. The Japanese yen, tracked by the Invesco CurrencyShares Japanese Yen Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>), rallied 1.4% following an overnight rate hike by the Bank of Japan.
In commodities, gold rose 0.7%, surpassing $2,400 per ounce, and silver climbed 1.4%. Oil prices surged 3% amid escalating geopolitical tensions in the Middle East following the assassination of Hamas chief Ismail Haniyeh by Israeli forces in Iran.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 0.3%.
<h3 class="wp-block-heading">Wednesday&#8217;s Movers In US Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,306.28</td>
<td>2.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,523.20</td>
<td>1.6%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,267.02</td>
<td>1.1 %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,030.77</td>
<td>0.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
According to <a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073124&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.6% higher to $550.40.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.7% to $410.22.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 2.6% to $469.60.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 1.1% to $224.09.</li>
<li>Sector-wise, the Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, rallying 3.4%, while the&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, up 0.1%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
Stocks moving on earnings were:
<ul>
<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), up 4%.</li>
<li>Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), down 3.8%,</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) up over 9%,</li>
<li>AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) up 8.2%,</li>
<li>Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>) up 1.5%,</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>) up 0.4%,</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), up 5.1%,</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) up over 12%,</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) down about 1%,</li>
<li>DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>) up 5.3%, </li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) up 1.8%,</li>
<li>Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) down 4.5%,</li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) down 4.6%, </li>
<li>GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) down 2.3%,</li>
<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) down 8.8%,</li>
<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) up 3.5%, </li>
<li>Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) up 4.3%,</li>
<li>Marriott International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) up 2.1%, </li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) down 1%, </li>
<li>Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) (down over 2.50%)</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) down 1.8%</li>
<li>Oshkosh Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>) down 2.8%,</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) down 3.1%,</li>
<li>Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) down over 12%</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) up over 4%, </li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) up over 8%,</li>
<li>T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) up 2.5%,</li>
<li>Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) down 1.5%.</li>
</ul>
Stocks reporting after the close include: 
<ul>
<li>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>)</li>
<li>American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>)</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)</li>
<li>C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>)</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>)</li>
<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>)</li>
<li>Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>)</li>
<li>Host Hotels &amp; Resorts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>)</li>
<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>)</li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</li>
<li>MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>)</li>
<li>NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>)</li>
<li>QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>)</li>
<li>Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>)</li>
<li>Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>).</li>
</ul>
Read now: 
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<li><a href="https://www.benzinga.com/federal-reserve/24/07/40071662/fed-shouldnt-wait-until-september-poll-finds-nearly-half-want-rate-cuts-today">Fed Shouldn&#8217;t Wait Until September: Poll Finds Nearly Half Want Rate Cuts Today</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Tech Stocks On Track For Best Session In 5 Months Ahead Of Fed Meeting; Small Caps Target Highest Close Since January 2022: What's Driving Markets Wednesday?

WIIM

Western Union shares are trading lower after the company reported worse-than-expected Q2 adjusted EPS results. Also, RBC capital maintained a Sector Perform rating on the stock and lowered its price target from $16 to $14.

RBC Capital analyst Daniel Perlin maintains Western Union (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>) with a Sector Perform and lowers the price target from $16 to $14.

RBC Capital Maintains Sector Perform on Western Union, Lowers Price Target to $14

Tech optimism is likely to abound on Wall Street as AI-levered stocks are feeding off the strength generated by Advanced Micro Devices, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)<a href="https://www.benzinga.com/news/earnings/24/07/40051646/amd-shares-rebound-after-chipmaker-posts-q2-beat-guidance-tops-expectations-ceo-lisa-su-says-ai-bus"> robust second-quarter results.</a> The major index futures are all sharply higher early Wednesday. The financial markets have baked in expectations of the Federal Reserve, led by Chairman Jerome Powell, to confirm a September rate cut. Bond yields are dropping and the dollar-denominated commodities are rising as the U.S. dollar trades lower against most major currency pairs.
The beaten-down mega-cap techs could lead the market higher, as evidenced in the premarket session. Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) did stir up some nervousness but analysts are largely sanguine about continued AI strength for the company, basing the optimism on the strong commercial cloud bookings.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+1.52%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.99%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.30%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.74%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) moved up 0.95% to $547.16, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 1.52% to $464.48, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks ended Tuesday&#8217;s session on a mixed note after traders sold off tech stocks amid some disappointing earnings and apprehensions ahead of some mega-cap tech earnings. Traders also chose to remain cautious ahead of the Fed decision.
The major averages opened uniformly higher but diverged thereafter. The Dow Industrials stayed mostly in the green, moving roughly sideways and ending moderately higher. The 30-stock blue-chip average drew strength from the support lent by healthcare and financial stocks.
The Nasdaq Composite and the S&amp;P 500 Index squandered their early gains ahead of earnings reports from Microsoft and AMD and declined steadily through the morning. After bottoming by the mid-session, these averages moved roughly sideways before closing notably lower.
Financial stocks rallied on Fed rate cut expectations and energy stocks gained on BP Plc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) quarterly earnings, while IT stocks served as drags.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td> Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-1.28%</td>
<td>17,147.42</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.50%</td>
<td>5,436.44</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.50%</td>
<td>40,743.33</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.35%</td>
<td>2,243.14</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Weighing in on the recent market weakness, Carson Group Chief Investment Strategist Ryan Detrick said some more volatility would be perfectly normal. Since most of the year so far has been historically calm, the strategist said large moves cannot be ruled out. &#8220;When you go at least a full year without a 2% drop and then finally have one, the bull tends to remain. In fact, up a median of more than six percent three months later and up more than 10% on average a year later don't sound all too bearish to me,&#8221; he said. 
He noted that the S&amp;P 500 Index went without a 2% drop for 356 days since February 2023, the longest such streak since the record 949 days before the Great Financial Crisis.
Upcoming Economic Data:
<ul>
<li>ADP is due to release its private payroll numbers at 8:15 a.m. EDT. Economists, on average, expect that the sector may have added 150,000 jobs in July, the same pace as in the previous month.</li>
<li>The Labor Department will release its second-quarter employment cost index at 8:30 a.m. EDT, with the consensus 1% quarter-over-quarter increase in compensation cost following a 1.2% increase in the first quarter.</li>
<li>The ISM-Chicago is due to release the results of its regional manufacturing activity data for July at 9:45 a.m. EDT. The Chicago region&#8217;s business barometer for July may have declined from 47.4 in June to 45.5 in July, suggesting a steeper contraction.</li>
<li>The National Association of Realtors will announce its pending home sale index for June at 10 a.m. EDT. Pending home sales may have increased 1% month-over-month following a 2.1% drop in the previous month.</li>
<li>The Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Fed will announce its interest rate decision via the post-meeting policy statement at 2 p.m. EDT. Economists widely expect another pause but traders will watch out for any change in the language that could add weight to expectations for a rate cut in September. Powell&#8217;s post-meeting presser is due for 2:30 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>AMD climbed over 9% in <a href="https://www.benzinga.com/premarket">premarket trading</a> following the chipmaker&#8217;s quarterly results.</li>
<li>The other stocks moving on earnings are Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) (up over 4%), Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) (up over 6%), DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>) (down about 6%), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) (up over 4%), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) (up over 5%), Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) (up about 11.5%), Microsoft (down over 2.50%), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) (down over 11%) and Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) (up over 2.7%).</li>
<li>Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>), AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>), Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>), Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>),&nbsp;Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), Oshkosh Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>), Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>), Marriott International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) (down over 20%), T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) are among the key companies due to <a href="https://www.benzinga.com/calendars/earnings">release their earnings reports ahead of the market opening.</a></li>
<li>Those reporting after the close include Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), Host Hotels &amp; Resorts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>), Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Meta, MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>) and Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>).</li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) soared over 13% after the company announced a license extension for its 2.4GW Comanche Peak nuclear power plant, allowing operations to continue until 2053.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rebounded strongly and gold futures extended gains ahead of the Fed meeting. The yield on the 10-year Treasury note slipped to 4.133%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back below the $66K level.
The global markets exuded cheer, taking heart from some positive U.S. tech earnings as well as some domestic data and earnings. Japan&#8217;s Nikkei 225 average rose after the <a href="https://www.benzinga.com/news/24/07/40058319/bank-of-japan-raises-main-interest-rate-unwinds-longstanding-easy-policy-even-as-jerome-powells-take">Bank of Japan raised interest rates to 0.25%, while also announcing a bond tapering plan.</a> The Chinese markets rallied strongly after lackluster domestic data raised stimulus hopes.
European stocks were notably higher in early trading as domestic traders digested the earnings news flow and inflation data from the eurozone, which unexpectedly accelerated.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40006542/apple-amazon-microsoft-meta-lead-the-charge-as-investors-bank-on-tech-cheer-for-ral">Apple, Amazon, Microsoft, Meta Lead The Charge As Investors Bank On Tech Cheer For Rally&#8217;s Reacceleration: Week Ahead In Earnings</a></li>
</ul>
Image Via Shutterstock

Wall Street Remains On Track For AMD-Led Rebound Ahead Of Fed Decision, Meta Earnings: Analyst Says 'The Bull Tends To Remain' Despite Near-Term Volatility

Western Union shares are trading lower after the company reported worse-than-expected Q2 adjusted EPS results.

Guidance

Western Union Reiterates Full Year 2024 Outlook For Revenue Of $4.125B - $4.200B GAAP Basis, $4.15B - $4.225B Adjusted Basis, Est $4.185B

Western Union Reiterates Full Year 2024 Outlook; Adjusted 	EPS Of $1.70 - $1.80, Est $1.77

Western Union (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>) reported quarterly earnings of $0.44 per share which missed the analyst consensus estimate of $0.45 by 2.22 percent. This is a 13.73 percent decrease over earnings of $0.51 per share from the same period last year. The company reported quarterly sales of $1.066 billion which beat the analyst consensus estimate of $1.060 billion by 0.53 percent. This is a 8.89 percent decrease over sales of $1.170 billion the same period last year.

Earnings Beats

Earnings Misses

Western Union Q2 2024 Adj. EPS $0.44 Misses $0.45 Estimate, Sales $1.066B Beat $1.060B Estimate

The earnings reports of last week were a mixed bag, with some Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and STMicroelectronics N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>), among companies <a href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l">disappointing to the downside</a>. As the focus shifts to the unfolding week, more tech companies are lined up to disclose their quarterly results, potentially offering cues regarding the health of the sector.
The Week That Was: Most on Wall Street viewed Tesla&#8217;s earnings as lacking quality because a significant portion of them came from one-time regulatory credits. On the other hand, Google-parent Alphabet alienated investors by flagging higher capex that will likely weigh down on margins and in turn the bottom line.
Franco-Italian chipmaker, which is a key supplier to the automotive market, cut its full-year guidance. But not all tech tidings were received with pessimism. International Business Machines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) rose as investors cheered the company&#8217;s strong artificial intelligence bookings. 
Healthy Trend: Data from financial data analytics company FactSet <a href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_072624C.pdf">showed</a> that about 14% of the S&amp;P 500 companies have reported their quarterly results so far. The percentage of S&amp;P 500 names that reported upside earnings surprise is 80%, above the one-year average (78%), five-year average (77%), and 10-year average (74%). But the percentage of upside was sub-part at 5.5%, below the one-year average (+6.5%), five-year average (+8.6%), and 10-year average (+6.8%).
The blended earnings of S&amp;P 500 companies are expected to grow by 9.7%, the fastest pace since the fourth quarter of 2021. Eight of the 11 S&amp;P 500 companies are on track to report year-over-year earnings growth for the June quarter, with communication Services, healthcare, IT, and financials likely reporting double-digit growth.
On the other hand, the materials space is expected to witness the steepest earnings decline.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
The Week Ahead: According to FactSet, this week will feature earnings reports from 138 S&amp;P 500 companies, including seven components of the Dow 30. Some heavily-weighted companies such as Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) are all in the mix.
Meta is expected to be the largest contributor to earnings per share growth, given the consensus models nearly 60% increase.
After last week&#8217;s brutal tech sell-off, a bullish analyst is optimistic concerning the the sector, its prospects and the stock trajectory. &#8220;We believe the tech sell-off seen last week will be short-lived as the Street better digests results and commentary from the broader tech sector over the coming weeks during 2Q earnings season,&#8221; Wedbush&#8217;s Daniel Ives said in a note published Sunday.
&#8220;This is the start….not the end of this tech bull run we expect the next few years,&#8221; he said, adding that companies, utilities, governments will spend over $1 trillion combined in AI capex over the coming years fueling this AI Revolution.
The analyst said investors will likely look for clues around the pace of AI revolution from the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39899280/microsoft-stock-has-further-room-to-run-says-analyst-as-software-giant-remains-on-t">earnings reports of Microsoft,</a> Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta and Apple and others.
Tech stocks extended their weekly declines in the week ended July 26 amid the disappointment from early tech reporters. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an index that tracks the performance of the Nasdaq 100 Index, ended Friday&#8217;s session down 1.03% to $462.97, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> The ETF is trading off its record close of $502.96 reached on July 10. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 1.12% on Friday before closing at $5544.44. The QQQ and SPY climbed 0.48% and 0.25%, respectively, in premarket trading Monday.
Notable among the companies reporting this week are:
Monday
Before market open:
<ul>
<li>McDonald&#8217;s Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>)</li>
<li>ON Semiconductor Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>)</li>
</ul>
After close:
<ul>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>)</li>
<li>Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>)</li>
<li>Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>)</li>
<li>Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
<li>Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>)</li>
<li>Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>)</li>
</ul>
Tuesday
Before market open:
<ul>
<li>American Electric Power Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>)</li>
<li>Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>)</li>
<li>BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>)</li>
<li>Illinois Tool Works Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITW#NYSE">ITW</a>)</li>
<li>JetBlue Airways Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>)</li>
<li>LGI Homes, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGIH#NASDAQ">LGIH</a>)</li>
<li>Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>)</li>
<li>Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>)</li>
<li>PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>)</li>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)</li>
<li>Procter &amp; Gamble Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>)</li>
<li>Restaurant Brands International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
</ul>
After close:
<ul>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)</li>
<li>Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>)</li>
<li>Caesars Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>)</li>
<li>DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>)</li>
<li>Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>)</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>)</li>
<li>Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>)</li>
<li>Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>)</li>
<li>Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>)</li>
<li>Microsoft</li>
<li>Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>)</li>
<li>Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>)</li>
<li>Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>)</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>)</li>
<li>Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>)</li>
</ul>
Wednesday
Before market open:
<ul>
<li>Altria Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>)</li>
<li>AutoNation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>)</li>
<li>Barrick Gold Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOLD#NYSE">GOLD</a>)</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>)</li>
<li>Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</li>
<li>DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>)</li>
<li>Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>)</li>
<li>GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>)</li>
<li>Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>)</li>
<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>)</li>
<li>&nbsp;Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>)</li>
<li>Oshkosh Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>)</li>
<li>Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>)</li>
<li>Marriott International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>)</li>
<li>Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>)</li>
<li>T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>)</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>)</li>
</ul>
After close:
<ul>
<li>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>)</li>
<li>American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>)</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)</li>
<li>C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>)</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>)</li>
<li>eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>)</li>
<li>Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>)</li>
<li>Host Hotels &amp; Resorts, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>)</li>
<li>Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>)</li>
<li>Meta</li>
<li>MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>)</li>
<li>NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>)</li>
<li>QUALCOMM Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>)</li>
<li>Teladoc Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>)</li>
<li>Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>)</li>
</ul>
Thursday
Before market open:
<ul>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>)</li>
<li>Bausch Health Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>)</li>
<li>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>)</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)</li>
<li>Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>)</li>
<li>EVgo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>)</li>
<li>&nbsp;Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>)</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>)</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>)</li>
<li>Regeneron Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>)</li>
<li>Sirius XM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>)</li>
<li>Cigna Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CI#NYSE">CI</a>)</li>
<li>Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>)</li>
</ul>
After close:
<ul>
<li>Amazon</li>
<li>Apple</li>
<li>Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>)</li>
<li>BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>)</li>
<li>Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>)</li>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>)</li>
<li>Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>)</li>
<li>Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>)</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)</li>
<li>DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>)</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</li>
<li>Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>)</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>)</li>
<li>Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>)</li>
<li>RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>)</li>
<li>Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>)</li>
<li>Vertex Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>)</li>
<li>Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>)</li>
<li>United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>)</li>
</ul>
Friday
Before market open:
<ul>
<li>Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>)</li>
<li>Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>)</li>
<li>Magna International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>)</li>
<li>Cinemark Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNK#NYSE">CNK</a>)</li>
<li>Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>)</li>
</ul>
After close:
<ul>
<li>AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>)</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39925881/alphabet-investors-fret-over-margin-impact-of-higher-ai-related-capex-but-fund-mana">Alphabet Investors Fret Over Margin Impact Of Higher AI-related Capex, But Fund Manager Says Not Spending Enough Exposes Google&#8217;s Parent To Risk Of &#8216;Losing Their Grip On The Future&#8217;</a></li>
</ul>
Image via Shutterstock

Apple, Amazon, Microsoft, Meta Lead The Charge As Investors Bank On Tech Cheer For Rally's Reacceleration: Week Ahead In Earnings

The Financial Transaction Services industry is poised to benefit from the increasing adoption of digital solutions. A robust digital offering allows industry players to leverage this trend effectively. Favorable consumer spending patterns are expected to drive transaction volumes higher. To maintain a competitive edge, companies must invest in technology, enhance operational efficiency and diversify revenue streams. A merger and acquisition (M&amp;A) strategy enhances capabilities. Companies like Fiserv, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fi#NYSE">FI</a>), Fidelity National Information Services, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fis#NYSE">FIS</a>), Global Payments Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gpn#NYSE">GPN</a>), WEX Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wex#NYSE">WEX</a>) and The Western Union Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wu#NYSE">WU</a>) are placed well to gain from the industry&#39;s encouraging growth prospects.
About the Industry 
The Zacks Financial Transaction Services industry is part of the Financial Technology or the FinTech space, including companies with diverse natures of businesses. The industry comprises card and payment processing and other solutions providers, ATM services and money remittance service providers and providers of investment solutions to financial advisors. The players in this segment operate their unique and proprietary global payments network that links issuers and acquirers around the globe to facilitate the switching of transactions, permitting account holders to use their products at millions of acceptance locations. Monetary transactions are effectuated through these networks, offering a convenient, quick and secure payment method in several currencies across the globe. The industry is benefiting from the ongoing digitization movement triggered by the pandemic.
4 Trends Influencing the Financial Transaction Services Industry&#39;s Future
Widespread Adoption of Contactless Payment Methods: There has been a growing preference for contactless payments among worldwide consumers and the trend shows no mood of slowing down. With cash and checks declining in use, industry players have introduced various flexible digital payment options such as cryptocurrency, biometrics, QR codes and buy now, pay later solutions. They have enjoyed an expanding customer base and diversified revenue streams, owing to the ease and benefits that these solutions provide. Therefore, these companies are driven to invest heavily in technology to maintain a competitive edge and sustain market leadership. However, increasing digitization also attracts sophisticated cybercrimes, leading to significant losses and data breaches for consumers and merchants alike. Thus, industry players not only develop efficient payment solutions but also invest in effective fraud prevention measures.
Strong Consumer Spending: The increase in consumer spending indicates a higher utilization of the product and service offerings of industry players. This surge in consumer spending translates to higher transaction volumes and, consequently, increased revenues for these companies. Deloitte, in an article published by Deloitte Global Economics Research Center, projects consumer spending to remain robust through the first half of 2024, driven by ongoing improvements in the labor market and consistent spending levels from both business and government sectors. A tight labor market with strong wage gains and a thriving e-commerce environment is expected to keep consumer spending at favorable levels in the days ahead. However, inflationary pressures could strain consumers&#39; purchasing power.
Inorganic Growth Efforts: To build a comprehensive digital solutions suite, the industry players frequently pursue mergers and acquisitions alongside their technology investments. These strategies are vital for enhancing capabilities, gaining diversification benefits, expanding the customer base, and strengthening global presence. The Federal Reserve decided to maintain its interest rate at its latest policy meeting, with no rate changes since the beginning of 2024 after 11 hikes in 2022 and 2023. Steady interest rates may encourage more financial transaction services companies to opt for loans to enter M&amp;A deals and avoid the complete exhaustion of cash reserves.
Strong Cross-Border Volumes: Financial transaction services stocks with exposure to the cross-border business are well-positioned to capitalize on increased international trade, increased travel, whether for recreational or office purposes, and the ongoing demand for efficient remittance services. Companies offering advanced cross-border payment solutions stand out as attractive investments, as they facilitate seamless international transactions and manage currency exchange. These solutions play a crucial role in enabling businesses to easily accept payments from customers in different countries and make timely supplier payments, ensuring smooth operations. The growing international workforce continues to drive the demand for effective cross-border remittance services.
Zacks Industry Rank Instills Optimism
The group&#39;s&nbsp; Zacks Industry Rank, which is basically the average of the Zacks Rank of all member stocks, indicates bright near-term prospects. The Zacks Financial Transaction Services industry is housed within the broader Zacks Business Services sector. It currently carries a Zacks Industry Rank #67, which places it in the top 27% of more than 250 Zacks industries.
Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. The industry&#39;s positioning in the bottom 50% of the Zacks-ranked industries is a result of a negative earnings outlook for the constituent companies in aggregate.
Before we present a few stocks that you may want to buy or retain in your portfolio, let&#39;s take a look at the industry&#39;s recent stock-market performance and valuation picture.
Industry Underperforms Sector, S&amp;P 500
The Zacks Financial Transaction Services industry underperformed its sector and the Zacks S&amp;P 500 composite in the past year.
In the said time frame, the industry has gained 10.6% compared with the Business Services sector&#39;s growth of 15.1%. The S&amp;P 500 has rallied 26.7% in the same time frame.
<h3>One-Year Price Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/58/70446.jpg?v=1714467236" />
Image Source: Zacks Investment Research
Industry&#39;s Current Valuation
On the basis of the forward 12-month Price/Earnings ratio, commonly used for valuing financial transaction services stocks, the industry is currently trading at 21.29X compared with the S&amp;P 500&#39;s 21.59X and the sector&#39;s 23.62X.
In the past five years, the industry traded as high as 32.49X, as low as 17.61X and at the median of 23.97X.
<h3>Forward 12-Month Price/Earnings (P/E) Ratio</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/61/70447.jpg?v=1405132657" />
Image Source: Zacks Investment Research
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/36/70448.jpg?v=994639338" />
Image Source: Zacks Investment Research
5 Stocks to Keep a Close Eye on
We are presenting five stocks from the Financial Transaction Services industry that currently carry a Zacks Rank #2 (Buy) or Zacks Rank #3 (Hold). Considering the current industry scenario, it might be prudent for investors to buy or retain these stocks in their portfolio, as these are well-placed to generate growth in the long haul.
Fiserv: Wisconsin-based, Fiserv provides a varied array of products and services, including payment processing, core banking systems, digital banking solutions, and more. Its business model combines the benefits of recurring revenues and high incremental margins from a scaled processing business, which enhances growth and profitability. The Zacks Rank #2 company can achieve outperformance through new client acquisition, retaining and expanding relationships with existing clients and delivering value-added solutions.
The Zacks Consensus Estimate for Fiserv&#39;s 2024 earnings is pegged at $8.69 per share, indicating a 15.6% rise from the year-ago reported figure. FI&#39;s earnings beat estimates in three of the last four quarters and matched the mark once, the average being 2.28%.
<h3>Price and Consensus: FI</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3d/70452.jpg?v=13990644" />
Image Source: Zacks Investment Research
Global Payments: Based in Atlanta, GA, Global Payments is well-poised for growth on the back of solid contributions from the Merchant Solutions and Issuer Solutions segments. The Merchant Solutions unit is poised to benefit from increased transaction volumes and an expanding base of U.S. merchant partners. At the same time, the Issuer Solutions segment is anticipated to benefit from growth in core issuers. This Zacks Rank #2 company has resorted to acquisitions and partnerships to bolster its capabilities and geographical presence.
The Zacks Consensus Estimate for Global Payments&#39; 2024 earnings is pegged at $11.64 per share, indicating an 11.7% rise from the year-ago figure. GPN&#39;s earnings beat estimates in each of the last four quarters, the average being 1.14%.
<h3>Price and Consensus: GPN</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ef/70454.jpg?v=1801450530" />
Image Source: Zacks Investment Research
Western Union: The Colorado-based Western Union, traditionally a brick-and-mortar money transfer company, has successfully developed a strong digital arm. Through significant investments and strategic digital partnerships, the Zacks Rank #2 company has seen impressive digital revenue growth. To further digitize the money movement process for consumers and businesses, Western Union partnered with several prominent global and regional financial service providers.
The Zacks Consensus Estimate for Western Union&#39;s 2024 earnings is pegged at $1.76 per share, indicating an improvement of 1.2% from the year-ago reported figure. WU&#39;s earnings beat estimates in each of the last four quarters, the average being 15.66%.
<h3>Price and Consensus: WU</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ef/70454.jpg?v=1554174805" />
Image Source: Zacks Investment Research
Fidelity National: Headquartered in Jacksonville, FL, Fidelity National&#39;s revenue growth is being driven by the robust performances of its Banking Solutions and Capital Market Solutions segments. The Banking unit is benefiting from new client acquisitions, while the Capital Market business is experiencing strong sales growth, contributing to increased recurring revenues. This Zacks Rank #3 company employs organic growth strategies and acquisitions to secure multi-year recurring contracts.
The Zacks Consensus Estimate for Fidelity National&#39;s 2024 earnings is pegged at $4.97 per share, calling for an improvement of 47.5% from the year-ago reported figure. The consensus mark for 2024 earnings has moved 7.1% north in the past 60 days.&nbsp;
<h3>Price and Consensus: FIS</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/58/70455.jpg?v=1287947373" />
Image Source: Zacks Investment Research
WEX: Headquartered in Portland, ME, WEX is being aided by an extensive fuel network and service providers, improved transaction volumes, product excellence, marketing prowess, sales force productivity and other strategic revenue generation efforts. This Zacks Rank #3 company&#39;s revenue stability is underpinned by its high-quality products and services and deep client understanding, along with long-term strategic relationships, multi-year contracts and high contract renewal rates. Acquisitions are a key growth catalyst.
The Zacks Consensus Estimate for WEX&#39;s 2024 earnings is pegged at $16.23 per share, which indicates a rise of 9.6% from the 2023 figure. WEX&#39;s earnings beat estimates in three of the last four quarters and missed the mark once, the average being 3.31%.
<h3>Price and Consensus: WEX</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/a5/70456.jpg?v=698464476" />
Image Source: Zacks Investment Research
<a href="https://www.zacks.com/commentary/2297274/5-financial-transaction-stocks-in-focus-amid-digital-payment-boom?cid=CS-BENZ-FT-industry_outlook-2297274">To read this article on Zacks.com click here.</a>

Fintech news covering the emerging Financial Technology services sector

Fintech

5 Financial Transaction Stocks in Focus Amid Digital Payment Boom

<h3>For Immediate Release</h3>
Chicago, IL &ndash; June 5, 2024 &ndash; Zacks Equity Research shares MGM Resorts International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mgm#NYSE">MGM</a>) as the Bull of the Day and Bloomin&#39; Brands (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blmn#NASDAQ">BLMN</a>) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on The Western Union Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wu#NYSE">WU</a>), The Bank of N.T. Butterfield &amp; Son Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ntb#NYSE">NTB</a>) and NewtekOne, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/newt#NASDAQ">NEWT</a>).
Here is a synopsis of all five stocks:
<h3>Bull of the Day:</h3>
MGM Resorts International is a Zack Rank #1 (Strong Buy) that owns and operates casino, hotel, and entertainment resorts in the United States and internationally.
The company&#39;s resort portfolio incorporates 31 unique hotel and gaming offerings, including some of the most familiar resort brands in the industry, such as Bellagio, MGM Grand, Mandalay Bay and The Mirage.
The stock continues to struggle in 2024, but investors might be overlooking the value opportunity that exists.
<h3>About the Company </h3>
MGM was incorporated in 1986, has a market cap of $12 billion, and employs over 58,000.
The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China.
The stock has a Zacks Style Score of &quot;A&quot; in Value and &quot;C&quot; in both Growth and Momentum. The stock has a Forward PE of 14, making it attractive for value investors.
<h3>Q1 Earnings</h3>
In early May, MGM reported a 23% EPS beat and a beat on revenues. Las Vegas Strip RevPar and occupancy were both up year over year and consolidated adjusted EBITDAR was $1.23B v $1.19B last quarter.
China impressed, seeing Net Revenues up to $1.1B v the $618M last year, while EBITDAR came in at $301M v the $169M last year.
The company bought 12M shares in Q1, which is part of its strategic growth plan to utilize free cash flow.
The stock reacted with volatility both up and down and the MGM currently sits around the same levels as when the company reported.
Since earnings, Nevada has reported casino gaming revenue +7%, which is a positive for the sector. Additionally, analyst have been taking their estimates higher since the earnings report.
<h3>Estimates Rising</h3>
Over the last 60 days, estimates for the current quarter have gone up by 23%, from $0.55 to $0.68.
For the current year, numbers have been taken from $2.48 to $2.82. This is a 13% move higher since EPS.
The trend continues for next year, with estimates going up 16% for that timeframe, moving from $2.70 to $3.11.
The stock has seen some upgrades since earnings, with JPMorgan reiterating their Overweight and $57 price target.
Susquehanna went to Net Positive from Net Neutral and took its target to $54 from $46.
<h3>The Technical Take</h3>
Looking at the chart, you can see the stock is at the same level that it was back in November of 2023. Since then, the overall stock market has been up over 20%, so this stock is being overlooked despite the solid earnings reports.
The bulls have some work to do, and investors should be watching the stock closely to see if a rally might be coming.
The first sign would be a move over the 200-day moving average resistance at $41.50. Right behind that is the 50-day MA $42.30.
There has been a lot of support in the $38.50-$40 area. This is the 61.8% Fibonacci zone that can be found by drawing from October lows to 2024 highs.
A continued defense of this area would signal long-term buying and a chance to return to those recent highs and beyond.
<h3>In Summary </h3>
MGM is generating free cash flow and buying its stock back. Earnings have been positive and earnings estimates have been going higher.
Yet despite these positives, the stock is teasing 2024 lows, clinging to long-term support.
The current situation in MGM is creating a long-term opportunity for value investors and this stock should be watched closely for a rally into the end of the year.
<h3>Bear of the Day:</h3>
Bloomin&#39; Brands is a Zacks Rank #5 (Strong Sell) that is a casual dining restaurant company with a portfolio of differentiated restaurant concepts.
The company has been underperforming as it struggles to meet market expectations and faces several strategic and operational challenges. Despite some positive signals in recent performance, the outlook remains clouded with uncertainties.
<h3>About the Company </h3>
Bloomin&#39; Brands was founded in 1988, employs 87,000, and is headquartered in Tampa, Florida.
Its restaurant portfolio has four concepts, including Outback Steakhouse, a casual steakhouse restaurant; Carrabba&#39;s Italian Grill, a casual Italian restaurant; Bonefish Grill; and Fleming&#39;s Prime Steakhouse &amp; Wine Bar, a contemporary steakhouse.
BLMN is valued at almost $2 billion and has a Forward PE of 9. The stock holds Zacks Style Scores of &quot;A&quot; in Growth and Value and pays a 4.5% dividend.
<h3>Q1 Earnings </h3>
In its most recent earnings report, BLMN missed earnings by 7%. Revenue came in at $1.20 billion, matching estimates, but this alone isn&#39;t enough to instill confidence in investors. The company&#39;s guidance for Q2 is particularly concerning, with an expected EPS range of $0.55 to $0.60, significantly below the consensus estimate of $0.69. Comparable restaurant sales are projected to be flat to up just 1.5% year-over-year, indicating minimal growth in the near term.
Margins and sales struggled, with the company&#39;s restaurant-level operating margin declining to 16.0% from 17.9% last year. U.S. combined same-store sales&nbsp;were down 1.6% year-over-year, further highlighting the struggles in maintaining growth.
While BLMN&#39;s marketing and operations initiatives have shown some success, particularly at Outback Steakhouse, these gains are not substantial enough to counteract the broader issues faced by the company.
Adding to the uncertainty is BLMN&#39;s announcement that it is exploring strategic alternatives for its Brazil operations. This move, while potentially beneficial in the long run, introduces short-term uncertainty and potential disruption.
<h3>Earnings Estimates Trending Lower </h3>
Over the last 30 days, earnings estimates for the current quarter have fallen from $0.69 to $0.59, or 14%.
For the current year, estimates have dropped from $2.55 to $2.44, or 4% over the last 30 days. And for next year, estimates have fallen 3% over that same time frame.
Analysts have reflected mixed sentiments about BLMN&#39;s future. JPMorgan Chase and Co. have reiterated a Neutral rating, with a reduced-price target of $24 from $26. UBS also maintains a Neutral rating but has cut the price target more drastically from $30 to $26. These ratings suggest a cautious stance on BLMN&#39;s ability to navigate its current challenges and achieve growth targets.
<h3>Technical Take</h3>
BLMN is trading at 2024 lows and is threatening to take out the 2023 lows set lats January. Below there, some investors might be beyond their pain threshold and start to sell. The 2022 July lows would then be in plat around the $16 level.
Those interested in the stock should be patient. The 50-day moving average gas just crossed the 200-day MA siganling a death cross. This is typically a bearish symbol and a sign to stay away until technical conditions improve.
<h3>In Summary</h3>
While Bloomin&#39; Brands has demonstrated some resilience in a challenging market, the numerous headwinds it faces cannot be overlooked. The earnings miss, disappointing guidance, declining margins, and strategic uncertainties in Brazil collectively paint a bearish picture for the stock.
Investors should approach BLMN with caution, as the company needs to prove its ability to overcome these hurdles and deliver sustained growth.
<h3>Additional content:</h3>
<h3>3 Best High-Yield Stocks to Sail Through Uncertainties in June</h3>
U.S. stocks are coming off a solid May, with all the major indexes ending in the green. However, the rally lost steam at the end of the month, with the broader S&amp;P 500 closing more than 1% below its record high, while tumbling chip stocks dragged the tech-laden Nasdaq down 1.1% last week.
The 30-stock Dow, on the other hand, started June&#39;s trading with a decline, with all the major cyclical sectors, including industrials, materials, and energy, closing in the red on Jun 3. Things aren&#39;t looking hunky-dory for the stock market. At the moment investors are grappling with weak economic data.
The manufacturing side of the economy contracted for the second successive month in May. The manufacturing index of the Institute of Supply Management came in at 48.7% in May, down from April&#39;s reading of 49.2%. Notably, any reading below the 50 mark signifies signs of contraction.
Economic growth, by the way, already slowed down in the first quarter, while price pressures continued to run hot. For the first three months of the year, the U.S. economy expanded at a lackluster annual pace of 1.3% as consumer outlays slowed down due to lower spending on cars and durable goods.
Meanwhile, as inflation remains elevated, consumer spending is unlikely to jack up for the rest of the year. The Federal Reserve&#39;s favored inflation measure, the personal consumption expenditure (PCE) index, was up 2.7% in April from a year earlier and remained higher than the central bank&#39;s annual inflation target of 2%.
With the economy cooling down, the stock market is expected to wobble. Also, the stock market may face bouts of volatility heading into the presidential election later this year. Hence, judicious investors should place their bets on high-yield stocks such as The Western Union Co., The Bank of N.T. Butterfield &amp; Son Ltd. and NewtekOne, Inc. for a steady income. This is because dividend payers have a solid financial structure that helps them remain unfazed by market gyrations.
These stocks have a Zacks Rank #1 (Strong Buy) and 2 (Buy).
Western Union is a leader in global money transfer. Western Union has a Zacks Rank #1. Western Union has a dividend yield of 7.3%, while its five-year average dividend yield is 5.3%.
In the past 5-year period, WU has increased its dividend 2 times. WU&#39;s payout ratio presently sits at 53% of earnings.
The Zacks Consensus Estimate for its current-year earnings has moved up 4.8% over the past 60 days. WU&#39;s expected earnings growth rate for the next year is 5.1%.
The Bank of N.T. Butterfield &amp; Son Limited offers bank and wealth management services. Bank of N.T. Butterfield &amp; Son has a Zacks Rank #2. The company has a dividend yield of 5.2%, while its five-year average dividend yield is 5.1%.
In the past 5-year period, NTB has increased its dividend once. NTB&#39;s payout ratio presently sits at 38% of earnings.
The Zacks Consensus Estimate for its current-year earnings has moved up 6.8% over the past 60 days. NTB&#39;s expected earnings growth rate for the next year is 7.1%.
NewtekOne is a financial holding company. NewtekOne has a Zacks Rank #1. NewtekOne has a dividend yield of 5.5%, while its five-year average dividend yield is 10.6%.
In the past 5-year period, NEWT has increased its dividend 12 times. NEWT&#39;s payout ratio presently sits at 49% of earnings.
The Zacks Consensus Estimate for its current-year earnings has moved up 4.9% over the past 60 days. NEWT&#39;s expected earnings growth rate for the current year is 12.9%.
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<a href="https://www.zacks.com/stock/news/2283841/mgm-resorts-and-bloomin-brands-have-been-highlighted-as-zacks-bull-and-bear-of-the-day?cid=CS-BENZ-FT-press_releases-2283841">To read this article on Zacks.com click here.</a>

BLMN

NEWT

MGM Resorts and Bloomin' Brands Have Been Highlighted as Zacks Bull and Bear of the Day

Western Union's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>) short percent of float has risen 3.45% since its last report. The company recently reported that it has 18.71 million shares sold short, which is 7.2% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.98 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Western Union Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1717184711_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Western Union has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Western Union's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Western Union's peer group average for short interest as a percentage of float is 4.51%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Western Union?

Western Union integration with both GraceKennedy's GKOne mobile application and Lynk mobile wallet provides Jamaican customers with choice and unparalleled access to funds sent from abroad
Western Union today announced growth in its portfolio of digital capabilities providing Jamaicans with more ways to receive cross-border remittances from virtually anywhere in the world.
Jamaicans can now access Western Union money transfer services through GraceKennedy's GKOne mobile wallet app and Lynk's mobile wallet app, giving customers the option to receive money digitally. This allows for instant access to funds, 24/7, from anywhere. The addition of the two largest mobile wallets in Jamaica complements the more than 200 Western Union retail locations across Jamaica, and the direct to bank account service also available to receive funds.

Global

Jamaicans Can Now Access Western Union Money Transfer Services Through GraceKennedy's GKOne Mobile Wallet App And Lynk's Mobile Wallet App, Giving Customers The Option To Receive Money Digitally

Fidelity National Information Services, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fis#NYSE">FIS</a>) shares gained 5.5% since it reported first-quarter 2024 results on May 6, 2024. Upward revision in adjusted earnings per share guidance, along with favorable EBITDA margin expansion, might have buoyed investor confidence in the stock. The first-quarter earnings benefited from strong recurring revenue growth in both the segments and strong new sales growth. However, negative professional services revenue growth in both segments and a less favorable revenue mix in Capital Markets partially offset the results.
FIS reported first-quarter 2024 adjusted EPS of $1.10, which beat the Zacks Consensus Estimate by 14.6%. However, the bottom line declined 14.7% year over year.
Revenues dipped 29.6% year over year to $2.5 billion. However, the top line beat the consensus mark of $2.4 billion.
<div class="chart_embed">
<h3>Fidelity National Information Services, Inc. Price, Consensus and EPS Surprise</h3>
<a href="https://www.zacks.com/stock/chart/FIS/price-consensus-eps-surprise-chart?icid=chart-FIS-price-consensus-eps-surprise-chart"><img alt="Fidelity National Information Services, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/5e/1715176355.png" style="height:265px; width:620px" title="" /> </a>
Fidelity National Information Services, Inc. price-consensus-eps-surprise-chart | Fidelity National Information Services, Inc. Quote
</div>
<h3>Q1 Performance</h3>
The cost of revenues was $1.55 billion in the quarter under review, which slipped 1.2% year over year. Selling, general and administrative expenses of Fidelity National increased 10.8% year over year to $573 million and were higher than our estimate of $524.9 million. Net interest expenses declined 45.8% year over year to $77 million and was lower than our estimate of $95 million.
Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose 8% year over year to $975 million and beat our estimate of $966.2 million. Adjusted EBITDA margin of 39.5% improved 200 basis points (bps) year over year in the first quarter.
<h3>Segmental Update</h3>
Revenues from the&nbsp;Banking Solutions&nbsp;unit increased 2% year over year to $1.68 billion, higher than the Zacks Consensus Estimate and our estimate of $1.67 billion. Improved adjusted recurring revenues and adjusted non-recurring revenues shaped the segment&#39;s quarterly performance. Adjusted EBITDA was $745 million in the quarter under review, which surpassed the consensus mark of $697 million and our estimate of $726.3 million. Adjusted EBITDA margin of 44.3% improved 350 bps year over year, attributable to cost efficiencies.
The&nbsp;Capital Market Solutions&nbsp;segment recorded revenues of $706 million, which grew 7% year over year in the first quarter and beat the Zacks Consensus Estimate of $705 million. The metric improved as a result of strong recurring revenue growth. Adjusted EBITDA of $335 million missed the consensus mark of $342 million. Adjusted EBITDA margin deteriorated 80 bps year over year to 47.4% due to a less favorable revenue mix.
The Corporate and Other segment&#39;s revenues amounted to $77 million, which declined 12% year over year in the quarter under review. The reported figure surpassed the Zacks Consensus Estimate of $66 million and our estimate of $70.3 million. Adjusted EBITDA loss was $105 million in the quarter under review, wider than the Zacks Consensus Estimate of a loss of $76 million. This segment&#39;s results suffered due to lower recurring revenues and higher operating expenses.
<h3>Financial Update (As of Mar 31, 2024)</h3>
Fidelity National exited the first quarter with cash and cash equivalents of $3.3 billion, up from $440 million at 2023-end. Total assets of $35.9 billion fell from $55.1 billion at 2023-end.
Long-term debt, excluding current portion, amounted to $10.6 billion, down from $13 billion at 2023-end. The current portion of long-term debt totaled $587 million. There were no short-term borrowings at 2023-end.
Total equity of $18 billion dropped from $19.1 billion at 2023-end.
FIS generated net cash from operations of $206 million in the first quarter, which declined 29.2% year over year. Free cash flows declined 44.8% year over year to $95 million.
<h3>Share Repurchase &amp; Dividend Update</h3>
Fidelity National rewarded $1.6 billion to its shareholders to the tune of share buybacks worth $1.4 billion and dividends of $209 million in the first quarter.
<h3>Capital Deployment Targets</h3>
Management aims to return a minimum of roughly $4 billion to its shareholders through share buybacks by the end of 2024, which includes $1.4 billion in repurchases conducted in the first quarter of 2024. FIS reiterates its aim to achieve a dividend payout ratio of 35% of adjusted net earnings, excluding equity method investment earnings (loss).
<h3>Update on Enterprise Transformation Program</h3>
FIS earlier reiterated its aim to achieve cash savings of $1 billion by 2024-end, out of which more than 75% belong to run-rate cash savings. It is also likely to benefit the company by bringing about a year-over-year increase of $280 million in adjusted EBITDA in 2024.&nbsp;
<h3>2Q24 View</h3>
Management forecasts revenues between $2.465 billion and $2.490 billion. Adjusted EBITDA is projected to be in the range of $980-$995 million. Adjusted EPS is estimated to be between $1.21 and $1.25. Adjusted EBITDA margin is projected to be in the range of 39.8-40%.
Revenues from the Banking Solutions unit are anticipated to witness a year-over-year increase of 2-2.5%, while it is estimated to grow in the range of 7-8% for the Capital Market Solutions business.
<h3>2024 Guidance</h3>
Revenues are expected to lie within $10.10-$10.15 billion, the mid-point of which indicates an improvement of 3.1% from the 2023 figure of $9.8 billion.
The Banking Solutions and Capital Market Solutions units are estimated to record year-over-year increases of 3-3.5% and 6.5-7%, respectively. &nbsp;
Adjusted EBITDA is projected between $4.10 billion and $4.14 billion in 2024, the midpoint of which suggests 3.7% growth from the 2023 figure of $4 billion.&nbsp; Adjusted EBITDA margin is anticipated within 40.6-40.8%.
Adjusted EPS guidance is revised upward between $4.88 and $4.98, the mid-point of which implies a 46.3% surge from the 2023 figure of $3.37. EPS is expected to benefit from lower effective tax rate, interest expenses and shares outstanding. 45% ownership in Worldpay is expected to generate income of $400-$415 million in 2024, benefiting the metric.
Net interest expenses are likely to stay within $320-$325 million for 2024.
<h3>Zacks Rank</h3>
Fidelity National currently carries a Zacks Rank #2 (Buy).
<h3>Other Business Services Sector Releases</h3>
Of the&nbsp;Business Services&nbsp;sector players that have already released first-quarter 2024 results so far, the bottom-line results of&nbsp;Mastercard Incorporated&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ma#NYSE">MA</a>),&nbsp;Global Payments Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gpn#NYSE">GPN</a>) and&nbsp;The Western Union Company&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wu#NYSE">WU</a>) beat the Zacks Consensus Estimate.
Mastercard reported first-quarter 2024 adjusted earnings of $3.31 per share, which outpaced the Zacks Consensus Estimate by 2.8%. The bottom line climbed 18% year over year. Net revenues of the leading technology company in the global payments industry amounted to $6.3 billion, which improved 10% year over year in the quarter under review. The top line beat the consensus mark by 0.4%. Gross dollar volume rose 10% on a local-currency basis to $2.3 trillion in the first quarter.&nbsp;
Cross-border volumes (a key measure that tracks spending on cards beyond the issuing country) advanced 18% on a local currency basis.&nbsp;Value-added services and solutions net revenues of $2.4 billion improved 16% year over year.&nbsp;Mastercard&#39;s clients issued 3.4 billion Mastercard and Maestro-branded cards as of Mar 31, 2024. Its operating income advanced 15% year over year to $3.6 billion. Operating margin of 56.8% improved 220 bps year over year in the quarter under review.
Global Payments reported first-quarter 2024 adjusted earnings of $2.59 per share, which beat the Zacks Consensus Estimate by 7.5%. The bottom line rose 21.6% year over year. Adjusted net revenues improved 6.6% year over year to $2.18 billion. The top line surpassed the consensus mark of $2.17 billion. Adjusted operating income of $949.6 million advanced 7.6% year over year in the quarter under review.
The adjusted operating margin improved 40 bps year over year to 43.5%. The Merchant Solutions segment recorded adjusted revenues of $1.68 billion in the first quarter, which rose 15.6% year over year. The unit&#39;s adjusted operating income advanced 14.8% year over year to $790.4 million. Meanwhile, GPN&#39;s Issuer Solutions segment reported adjusted revenues of $515.6 million, which grew 5.2% year over year in the quarter under review.
Western Union reported first-quarter 2024 adjusted earnings of 45 cents per share, which beat the Zacks Consensus Estimate by 12.5%. The bottom line rose nearly 5% year over year. Total revenues increased more than 1% year over year on a reported basis, or 3% on an adjusted basis, to nearly $1.05 billion. The top line beat the Zacks Consensus Estimate by 3.9%.
Adjusted operating margin of 19.7% deteriorated 80 bps year over year due to the timing of marketing expenses and increased redeployment costs. The CMT or&nbsp;Consumer Money Transfer&nbsp;segment reported revenues of $962 million, which increased 3% year over year in the quarter under review. Operating income improved 6% year over year to $187.6 million. The operating income margin was 19.5%. Transactions within the CMT segment increased 6% year over year. Branded Digital revenues increased 9% on a reported and adjusted basis.
<a href="https://www.zacks.com/stock/news/2270717/fidelity-national-s-fis-shares-up-5-5-since-q1-earnings-beat?cid=CS-BENZ-FT-analyst_blog|earnings_article-2270717">To read this article on Zacks.com click here.</a>

Fidelity National's Shares Up 5.5% Since Q1 Earnings Beat

Western Union, in coordination with its processing partner Orbit S.A., today announced the resumption of its service from the United States to Cuba, effective immediately.
With service reinstated, Western Union customers are now once again able to send money from any U.S. retail location, WesternUnion.com or the Western mobile app to close family in Cuba with bank and debit card accounts at the following banks in Cuba: Banco Popular de Ahorro, Banco Metropolitano S.A. and Banco de Credito y Comercio (Bandec).
"We understand our service is a crucial connection between those living in the U.S. and their family living in Cuba," said Rodrigo Garcia Estebarena, President, Western Union North America and Latin America. "We are pleased to resume service to this vital corridor and provide essential money transfer services to those living on the island."
&nbsp;

Western Union Resumes Service Between The U.S. And Cuba

Western Union and Adonis supermarkets today announced a strategic alliance to help facilitate cross-border money transfer capabilities in Canada.
The alliance benefits scores of consumers in Canada by offering Western Union services in the following Adonis locations in Montreal:
<ul>
<li>Adonis Seville: 2173 St.-Catherine St. W</li>
<li>Adonis Griffintown: 225 Peel St.</li>
</ul>
"We are excited to establish this new alliance with Adonis," said Ari Hagnas, Vice President and Head of Western Union Canada. "Adonis and its unique offerings reflect its mission to provide quality food and a philosophy that we share by focusing its efforts on the customer experience. We look forward to working with them to benefit our collective customer base in Canada."
The alliance with Adonis is part of Western Union's continued growth and expansion of its service offerings across Canada, including a wide range of touch points, physical and digital channels, providing customers with speed, choice and convenience transferring money.

Western Union And Adonis' New Strategic Alliance Will Enhance Cross-Border Money Transfer Services In Canada

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

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Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

For the quarter ended March 2024, Western Union (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wu#NYSE">WU</a>) reported revenue of $1.05 billion, up 1.2% over the same period last year. EPS came in at $0.45, compared to $0.43 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.01 billion, representing a surprise of +3.94%. The company delivered an EPS surprise of +12.50%, with the consensus EPS estimate being $0.40.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company&#39;s financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock&#39;s price performance more accurately.
Here is how Western Union performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
<ul>
<li>Consumer Money Transfer transactions- Total: 69 million versus 68.08 million estimated by three analysts on average.</li>
<li>Revenue- Consumer Services: $87.10 million versus the five-analyst average estimate of $87.40 million. The reported number represents a year-over-year change of +4.7%.</li>
<li>Revenue- Consumer Money Transfer: $962 million versus $920.74 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2.5% change.</li>
<li>Segment Operating Income (Loss)- Consumer Services: $18.60 million versus the two-analyst average estimate of $18.11 million.</li>
<li>Segment Operating Income (Loss)- Consumer Money Transfer: $187.60 million compared to the $176.15 million average estimate based on two analysts.</li>
</ul>
Shares of Western Union have returned -2% over the past month versus the Zacks S&amp;P 500 composite&#39;s -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2261755/here-s-what-key-metrics-tell-us-about-western-union-wu-q1-earnings?cid=CS-BENZ-FT-fundamental_analysis|nfm-2261755">To read this article on Zacks.com click here.</a>

Here's What Key Metrics Tell Us About Western Union Q1 Earnings

Western Union Non-GAAP EPS of $0.44 misses by $0.01, revenue of $1.07B beats by $10M

The Western Union Company (WU) Q2 2024 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Western Union (NYSE:<a href="https://investorplace.com/stock-quotes/wu-stock-quote/">WU</a>) just reported results for the second quarter of 2024.<ul><li>Western Union reported earnings per share of 44 cents. This was below the analyst estimate for EPS of 45 cents.</li><li>The company reported revenue of $1.07 billion.</li><li>This was 0.57% better than the analyst estimate for revenue of $1.06 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/wu-stock-earnings-western-union-for-q2-of-2024/">WU Stock Earnings: Western Union Misses EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

WU Stock Earnings: Western Union Misses EPS, Beats Revenue for Q2 2024

In a report released today, David Scharf from JMP Securities maintained a Hold rating on Western Union (WU – Research Report). The company's shares...

JMP Securities Sticks to Its Hold Rating for Western Union (WU)

In a report released yesterday, Vasundhara Govil from KBW assigned a Hold rating to Western Union (WU – Research Report), with a price target of $1...

KBW Releases a Hold Rating on Western Union (WU)

Barclays analyst Ramsey El Assal maintained a Sell rating on Western Union (WU – Research Report) today and set a price target of $11.00. The compa...

Western Union (WU) Receives a Sell from Barclays

Monness analyst Gustavo Gala has reiterated their neutral stance on WU stock, giving a Hold rating today. Gustavo Gala has given his Hold rating du...

Western Union: Hold Rating Amidst Growth and Uncertainties in Digital Expansion

Analysts have been eager to weigh in on the Financial sector with new ratings on Northern (NTRS – Research Report), Western Union (WU – Research Re...

Analysts' Opinions Are Mixed on These Financial Stocks: Northern (NTRS), Western Union (WU) and Ares Management (ARES)

PayPal's Stock Is Dead Money, At Best

High dividend stocks are particularly appealing in a declining interest rate environment.

3 Ultra-High Dividend Stocks Yielding Over 7%

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Press Releases

Western Union Teams with GraceKennedy and Lynk Mobile Wallets to Expand Remittance Services Across Jamaica

Western Union to Present at BofA Securities 2024 Global Technology Conference on June 4

Western Union Foundation Celebrates Driving $150 Million in Wage Gains in 2023 Impact Report

Katapulk Marketplace and Western Union Team to Offer New Channel to Send Money From the United States to Cuba

Western Union to Release Second Quarter 2024 Results on July 30

Western Union 2023 ESG Report Highlights Company Progress to Serve Aspiring Populations Around the World

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Western Union

Western Union (WU) Forecast

Western Union (NYSE:WU) Stock, Quote.Headers.trade-ideas