Option chain shows key data for Western Union's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for Western Union.

Western Union (NYSE:WU) Stock, Option Chain

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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This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$65.00</td>
<td>$40.1K</td>
<td>45.0K</td>
<td>4.6K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$72.50</td>
<td>$501.0K</td>
<td>3.2K</td>
<td>3.0K</td>
</tr>
<tr>
<td>WU</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$12.00</td>
<td>$278.1K</td>
<td>7.3K</td>
<td>2.4K</td>
</tr>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$16.00</td>
<td>$76.7K</td>
<td>4.1K</td>
<td>2.0K</td>
</tr>
<tr>
<td>PMT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$12.50</td>
<td>$130.0K</td>
<td>2.0K</td>
<td>2.0K</td>
</tr>
<tr>
<td>RKT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$16.50</td>
<td>$79.3K</td>
<td>246</td>
<td>1.0K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$185.00</td>
<td>$32.3K</td>
<td>2.3K</td>
<td>841</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$44.50</td>
<td>$62.0K</td>
<td>107</td>
<td>805</td>
</tr>
<tr>
<td>UPST</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/08/24</td>
<td>$50.00</td>
<td>$57.5K</td>
<td>624</td>
<td>612</td>
</tr>
<tr>
<td>FUTU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$100.00</td>
<td>$26.2K</td>
<td>1.3K</td>
<td>310</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we observe a call option sweep with bearish sentiment. It expires in 11 day(s) on November 15, 2024. Parties traded 451 contract(s) at a $65.00 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $40.1K, with a price of $89.0 per contract. There were 45098 open contracts at this strike prior to today, and today 4686 contract(s) were bought and sold. 
• For WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we notice a call option trade that happens to be bearish, expiring in 137 day(s) on March 21, 2025. This event was a transfer of 3000 contract(s) at a $72.50 strike. The total cost received by the writing party (or parties) was $501.0K, with a price of $167.0 per contract. There were 3283 open contracts at this strike prior to today, and today 3052 contract(s) were bought and sold. 
• For WU (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>), we notice a put option sweep that happens to be bullish, expiring in 11 day(s) on November 15, 2024. This event was a transfer of 2417 contract(s) at a $12.00 strike. This particular put needed to be split into 53 different trades to become filled. The total cost received by the writing party (or parties) was $278.1K, with a price of $115.0 per contract. There were 7339 open contracts at this strike prior to today, and today 2459 contract(s) were bought and sold. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option sweep that happens to be bearish, expiring in 137 day(s) on March 21, 2025. This event was a transfer of 1784 contract(s) at a $16.00 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $76.7K, with a price of $43.0 per contract. There were 4156 open contracts at this strike prior to today, and today 2025 contract(s) were bought and sold. 
• For PMT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PMT#NYSE">PMT</a>), we notice a put option trade that happens to be bullish, expiring in 164 day(s) on April 17, 2025. This event was a transfer of 2000 contract(s) at a $12.50 strike. The total cost received by the writing party (or parties) was $130.0K, with a price of $65.0 per contract. There were 2081 open contracts at this strike prior to today, and today 2003 contract(s) were bought and sold. 
• Regarding RKT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), we observe a call option sweep with bullish sentiment. It expires in 11 day(s) on November 15, 2024. Parties traded 882 contract(s) at a $16.50 strike. This particular call needed to be split into 38 different trades to become filled. The total cost received by the writing party (or parties) was $79.3K, with a price of $90.0 per contract. There were 246 open contracts at this strike prior to today, and today 1021 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option sweep that happens to be bullish, expiring in 4 day(s) on November 8, 2024. This event was a transfer of 44 contract(s) at a $185.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $32.3K, with a price of $735.0 per contract. There were 2338 open contracts at this strike prior to today, and today 841 contract(s) were bought and sold. 
• Regarding BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we observe a put option trade with bullish sentiment. It expires in 4 day(s) on November 8, 2024. Parties traded 200 contract(s) at a $44.50 strike. The total cost received by the writing party (or parties) was $62.0K, with a price of $310.0 per contract. There were 107 open contracts at this strike prior to today, and today 805 contract(s) were bought and sold. 
• Regarding UPST (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>), we observe a put option sweep with bearish sentiment. It expires in 4 day(s) on November 8, 2024. Parties traded 92 contract(s) at a $50.00 strike. This particular put needed to be split into 16 different trades to become filled. The total cost received by the writing party (or parties) was $57.5K, with a price of $625.0 per contract. There were 624 open contracts at this strike prior to today, and today 612 contract(s) were bought and sold. 
• Regarding FUTU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>), we observe a call option trade with bullish sentiment. It expires in 46 day(s) on December 20, 2024. Parties traded 30 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $26.2K, with a price of $875.0 per contract. There were 1337 open contracts at this strike prior to today, and today 310 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

COIN

FUTU

SOFI

UPST

10 Financials Stocks Whale Activity In Today's Session

The most oversold stocks in the financials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the<a href="https://www.benzinga.com/topic/rsi"> RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Western Union Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>)</h3>
<ul>
<li>On Oct. 23, Western Unio posted better-than-expected quarterly earnings. &#8220;We are pleased with third quarter results, which demonstrate continued progress of our Evolve 2025 strategy,&#8221; said Devin McGranahan, President and Chief Executive Officer. &#8220;We&#8217;ve maintained mid-single digit transaction growth in our Consumer Money Transfer business for five quarters in a row and are now seeing the effect on revenue, with positive adjusted consolidated revenue growth for two consecutive quarters, excluding Iraq.&#8221; The company's stock fell around 8% over the past month and has a <a href="https://www.benzinga.com/quote/WU">52-week low of $10.69</a>.</li>
<li>RSI Value: 27.25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>WU Price Action: Shares of Western Union fell 0.2% to close at $10.74 on Friday.</li>
<li>Benzinga Pro's real-time newsfeed a<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">lerted to latest WU news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="911" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005118/image-6.png" alt="" class="wp-image-627101" style="width:624px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005118/image-6.png 911w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005118/image-6-300x276.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005118/image-6-768x706.png 768w" sizes="(max-width: 911px) 100vw, 911px" /></a></figure>
<h3 class="wp-block-heading">AGNC Investment Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGNC#NASDAQ">AGNC</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Oct. 31, AGNC Investment posted third-quarter comprehensive income per common share of 63 cents. &#8220;AGNC generated a very strong economic return of 9.3% in the third quarter, driven by significant book value growth and our compelling monthly dividend, which has remained stable at $0.12 per common share for 55 consecutive months&#8221; said Peter Federico, the Company&#8217;s President and Chief Executive Officer. &#8221; The company's stock fell around 7% over the past five days and<a href="https://www.benzinga.com/quote/AGNC"> has a 52-week low</a> of $7.85.</li>
<li>RSI Value: 25.31</li>
<li>AGNC Price Action: Shares of AGNC Investment closed at $9.31 on Friday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">trend in AGNC stock.</a> </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="918" height="841" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005308/image-7.png" alt="" class="wp-image-627104" style="width:598px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005308/image-7.png 918w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005308/image-7-300x275.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005308/image-7-768x704.png 768w" sizes="(max-width: 918px) 100vw, 918px" /></a></figure>
<h3 class="wp-block-heading">Essent Group Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESNT#NYSE">ESNT</a>)</h3>
<ul>
<li>On Nov. 1, Essent Group reported worse-than-expected third-quarter EPS and revenues. &#8220;We are pleased with our third quarter financial results, as we continue to generate high quality earnings,&#8221; said Mark A. Casale, Chairman and Chief Executive Officer. The company's stock fell around 15% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/ESNT">low of $47.37</a>.</li>
<li>RSI Value: 18.57</li>
<li>ESNT Price Action: Shares of Essent Group fell 10.4% to close at $53.77 on Friday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">breakout in ESNT shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="901" height="410" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005416/image-8.png" alt="" class="wp-image-627105" style="width:677px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005416/image-8.png 901w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005416/image-8-300x137.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005416/image-8-768x349.png 768w" sizes="(max-width: 901px) 100vw, 901px" /></a></figure>
<h3 class="wp-block-heading">UWM Holdings Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UWMC#NYSE">UWMC</a>)</h3>
<ul>
<li>UWM Holdings will announce its third quarter results on Thursday, Nov. 7. The company's shares lost around 20% over the past month. The company's 52-week low is $5.01.</li>
<li>RSI Value: 20.90</li>
<li>UWMC Price Action: Shares of UWM Holdings fell 2.3% to close at $6.29 on Friday.</li>
<li>Benzinga Pro's earnings calendar was used to track upcoming <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1">UWMC earnings reports</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110424&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="917" height="533" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005456/image-9.png" alt="" class="wp-image-627106" style="width:650px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005456/image-9.png 917w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005456/image-9-300x174.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/04005456/image-9-768x446.png 768w" sizes="(max-width: 917px) 100vw, 917px" /></a></figure>
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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 risen 4.26% since its last report. The company recently reported that it has 21.61 million shares sold short, which is 8.33% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.25 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/2024/1730298614_0_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 5.26%, 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.

Short Sellers

Short Ideas

Looking Into Western Union's Recent Short Interest

UBS analyst Timothy Chiodo maintains Western Union (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>) with a Neutral and lowers the price target from $13.5 to $12.

Price Target

UBS Maintains Neutral on Western Union, Lowers Price Target to $12

Western Union (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>) affirms FY2024 Adj EPS guidance from $1.70-1.80 to $1.70-1.80 vs $1.76 analyst estimate. Affirms FY2024 sales outlook from $4.15 billion-4.22 billion to $4.15 billion-4.22 billion vs $undefined estimate.

Guidance

Western Union Affirms FY2024 Adj EPS Guidance from $1.70-1.80 to $1.70-1.80 vs $1.76 Est; Affirms FY2024 Sales Guidance from $4.15B-4.22B to $4.15B-4.22B vs (Est. $4.178B)

Western Union (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>) reported quarterly earnings of $0.46 per share which beat the analyst consensus estimate of $0.44 by 4.55 percent. The company reported quarterly sales of $1.036 billion which beat the analyst consensus estimate of $1.029 billion by 0.68 percent. This is a 5.65 percent decrease over sales of $1.098 billion the same period last year.

Earnings Beats

Western Union Q3 2024 Adj. EPS $0.46 Beats $0.44 Estimate, Sales $1.036B Beat $1.029B Estimate

Western Union (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>) is preparing to release its quarterly earnings on Wednesday, 2024-10-23. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Western Union to report an earnings per share (EPS) of $0.44.
Investors in Western Union are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Overview of Past Earnings</h3>
The company's EPS missed by $0.01 in the last quarter, leading to a 8.33% drop in the share price on the following day.
Here's a look at Western Union's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.45</td>
<td>0.41</td>
<td>0.37</td>
<td>0.39</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.44</td>
<td>0.45</td>
<td>0.37</td>
<td>0.43</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-8.0%</td>
<td>-2.0%</td>
<td>-6.0%</td>
<td>-10.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729623776_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Western Union were trading at $11.59 as of October 21. Over the last 52-week period, shares are down 10.36%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<h3>Analyst Insights on Western Union</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Western Union.
With 2 analyst ratings, Western Union has a consensus rating of Neutral. The average one-year price target is $13.0, indicating a potential 12.17% upside.
<h3>Peer Ratings Comparison</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of Euronet Worldwide, StoneCo and Payoneer Global, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Euronet Worldwide is maintaining an Buy status according to analysts, with an average 1-year price target of $123.0, indicating a potential 961.26% upside.</li>
<li>As per analysts' assessments, StoneCo is favoring an Neutral trajectory, with an average 1-year price target of $13.0, suggesting a potential 12.17% upside.</li>
<li>The consensus outlook from analysts is an Buy trajectory for Payoneer Global, with an average 1-year price target of $9.06, indicating a potential 21.83% downside.</li>
</ul>
<h3>Overview of Peer Analysis</h3>
The peer analysis summary outlines pivotal metrics for Euronet Worldwide, StoneCo and Payoneer Global, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Western Union</td>
<td>Neutral</td>
<td>-8.85%</td>
<td>$402.50M</td>
<td>33.62%</td>
</tr>
<tr>
<td>Euronet Worldwide</td>
<td>Buy</td>
<td>5.02%</td>
<td>$405.40M</td>
<td>6.76%</td>
</tr>
<tr>
<td>StoneCo</td>
<td>Neutral</td>
<td>11.86%</td>
<td>$2.25B</td>
<td>3.29%</td>
</tr>
<tr>
<td>Payoneer Global</td>
<td>Buy</td>
<td>15.86%</td>
<td>$202.56M</td>
<td>4.87%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Western Union is positioned in the middle among its peers for revenue growth. It ranks at the top for gross profit. In terms of return on equity, it is also positioned in the middle.
<h3>Delving into Western Union's Background</h3>
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.
<h3>Financial Milestones: Western Union's Journey</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Challenges: Western Union's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -8.85%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Western Union's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 13.22%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Western Union's ROE excels beyond industry benchmarks, reaching 33.62%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.76%, the company showcases effective utilization of assets.
Debt Management: With a high debt-to-equity ratio of 5.98, Western Union faces challenges in effectively managing its debt levels, indicating potential financial strain.
<a href="https://www.benzinga.com/quote/WU/earnings">To track all earnings releases for Western Union visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Western Union

The Western Union Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wu#NYSE">WU</a>) inked a deal with the Open Finance company, Khipu, enabling customers to transfer money digitally using any bank account in Chile.
The agreement incorporates Khipu&#39;s technology into Western Union&#39;s mobile app and website. Earlier, customers paying through a bank account had to leave the Western Union app or website and log into their bank&#39;s platform to complete the payment. This step is now removed as a result of the latest integration, allowing the entire transaction to be completed within the Western Union platform. The service is now available via the Western Union Chile app and website.
Western Union has also introduced a special promotion offer with a $0 fee for the first remittance made using the &quot;Online Bank Transfer&quot; option, thereby encouraging customers to explore the new service. The collaboration between WU and Khipu makes sure that cross-border payments can be made faster and more seamlessly by Chile&#39;s customers.
<h2>Benefits of the Recent Move to Western Union</h2>
The recent initiative reflects Western Union&#39;s sincere efforts to establish a solid footprint across the Chilean remittance market.&nbsp;
Moves similar to the latest one are indicative of Western Union&#39;s efforts to align with its global digital expansion strategy, designed to attract more customers through its diverse service offerings. Speedier money transfers brought about by integrating Khipu&#39;s technology into the WU platform are likely to result in the increased usage of its money transfer services. This move is likely to further boost the company&#39;s digital money transfer revenues in the days ahead.
Strategic partnerships with financial service providers and significant investments have enabled Western Union to develop a robust digital platform. This platform&#39;s strength has made it a preferred partner for efficient global money transfers and advancing digitization in underserved regions.
<h2>Western Union&#39;s Stock Price Performance</h2>
Shares of Western Union have dipped 0.7% year to date against the industry&#39;s 8.8% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/af/80259.jpg?v=1602165044" />
Image Source: Zacks Investment Research
<h2>WU&#39;s Zacks Rank &amp; Other Stocks to Consider</h2>
WU currently carries a Zacks Rank #2 (Buy).&nbsp;
Some other top-ranked stocks in the Business Services space are Duolingo, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/duol#NASDAQ">DUOL</a>), RCM Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcmt#NASDAQ">RCMT</a>) and AppLovin Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/app#NASDAQ">APP</a>), each currently sporting a Zacks Rank #1 (Strong Buy).
The bottom line of Duolingo outpaced estimates in each of the last four quarters, the average surprise being 92.09%. The Zacks Consensus Estimate for DUOL&#39;s 2024 earnings is pegged at $1.87 per share, which indicates a more than five-fold increase from the year-ago figure. The consensus mark for revenues implies growth of 38.6% from the year-ago number. The consensus mark for DUOL&#39;s 2024 earnings has moved 7.5% north in the past 60 days.&nbsp;
RCM Technologies&#39; earnings outpaced estimates in three of the trailing four quarters and matched the mark once, the average surprise being 17.49%. The Zacks Consensus Estimate for RCMT&#39;s 2024 earnings indicates an improvement of 10.4% from the year-ago figure. The same for revenues also implies growth of 5.3% from the prior-year reading. The consensus mark for RCMT&#39;s 2024 earnings has moved 2.2% north in the past 60 days.&nbsp;
The bottom line of AppLovin outpaced estimates in each of the last four quarters, the average surprise being 21.06%. The Zacks Consensus Estimate for APP&#39;s 2024 earnings is pegged at $3.46 per share, which indicates a nearly four-fold increase from the year-ago figure. The consensus mark for revenues implies growth of 35.2% from the year-ago actual. The consensus mark for APP&#39;s 2024 earnings has moved 13.1% north in the past 60 days.
Shares of Duolingo and AppLovin have gained 24% and 238.2%, respectively, year to date. However, RCM Technologies stock has lost 31% in the same time frame.
<a href="https://www.zacks.com/stock/news/2345644/western-union-expands-footprint-in-chile-with-khipu-partnership?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2345644">To read this article on Zacks.com click here.</a>

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/09/23/final-trades-leidos-holdings-western-union-and-walmart.html">Halftime Report Final Trades</a>,&#8221; Stephen Weiss of Short Hills Capital Partners named Leidos Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LDOS#NYSE">LDOS</a>) as <a href="https://www.benzinga.com/quote/LDOS/news">his final trade.</a>
On Sept. 18, Leidos said Tina Jonas has been appointed to the company&#8217;s board of directors, effective Sept. 25. 
&#8220;Tina Jonas brings extensive defense and aerospace leadership experience in both government and industry to the Leidos Board of Directors,&#8221; said Leidos CEO Tom Bell. &#8220;Her insights will be invaluable as we work to support our critical customer missions and our nation&#8217;s warfighters. We&#8217;re confident her contributions will help continue to drive innovation and growth for our organization, and we&#8217;re honored to welcome her to the board.&#8221;
Jenny Harrington of Gilman Hill Asset Management said The Western Union Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WU#NYSE">WU</a>) has an 8% dividend yield.
On July 30, Western Union reported worse-than-expected second-quarter adjusted EPS results. Western Union reported quarterly earnings of 44 cents per share, which missed the analyst consensus estimate of 45 cents per share. The company reported quarterly sales of $1.066 billion, which beat the analyst consensus estimate of $1.060 billion.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Joseph M. Terranova of Virtus Investment Partners picked Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>).
On Sept. 23, Melius Research analyst Karen Short initiated coverage on Walmart with a Buy rating and announced a price target of $95. Walmart is reportedly sweetening its pay-by-bank feature in Walmart Pay, allowing customers to pay directly from their checking accounts rather than debit cards, with transactions instantly reflected <a href="https://www.benzinga.com/markets/equities/24/09/40945833/walmart-to-offer-pay-by-bank-feature-for-online-transactions-with-launch-in-2025">in their bank accounts.</a>
Price Action:
<ul>
<li>Leidos gained 1.7% to close at $159.68 during Monday's session.</li>
<li>Western Union shares gained 2% to settle at $11.98 on Monday.</li>
<li>Walmart shares gained 1.6% to close at $80.33 on Monday.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/24/09/40980672/top-3-financials-stocks-that-may-plunge-in-september">Top 3 Financials Stocks That May Plunge In September</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Walmart, Leidos And A Financial Stock: CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: Leidos Holdings, The Western Union Company, Walmart

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.

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.

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>
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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?

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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

Futures

Previews

Movers

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.

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 Misses

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

The Western Union Company (WU) Q3 2024 Earnings Call Transcript

JMP Securities analyst David Scharf maintained a Hold rating on Western Union (WU – Research Report) today. The company's shares closed yesterday a...

JMP Securities Keeps Their Hold Rating on Western Union (WU)

Singtel to sell Dash to Western Union

Companies in the Financial sector have received a lot of coverage today as analysts weigh in on Prosperity Bancshares (PB – Research Report), North...

Analysts' Opinions Are Mixed on These Financial Stocks: Prosperity Bancshares (PB), Northern (NTRS) and Western Union (WU)

Wall Street Breakfast Podcast: Boeing Workers Reject Contract, Strike Continues

RBC Capital analyst Daniel Perlin maintained a Hold rating on Western Union (WU – Research Report) yesterday and set a price target of $14.00. The ...

RBC Capital Remains a Hold on Western Union (WU)

UBS lowered the firm's price target on Western Union (WU) to $12 from $13.50 and keeps a Neutral rating on the shares. Western Union's Q3 revenue w...

Western Union price target lowered to $12 from $13.50 at UBS

In a report released today, Michael Grondahl from Northland Securities maintained a Buy rating on Western Union (WU – Research Report), with a pric...

Northland Securities Keeps Their Buy Rating on Western Union (WU)

JMP Securities analyst David Scharf maintained a Hold rating on Western Union (WU – Research Report) today. The company's shares closed last Friday...

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