Shares in Alibaba Group slid by 5.8% in Hong Kong to HK$85.55 on Wednesday compared to the end of last week as investors mulled Zhang’s surprise departure. Bank of America’s Savita Subramanian said the bank expects the equal-weighted version of the S&P 500 to outperform the cap-weighted version of the index. « Why? (1) profits growth troughed in 2Q, and investors tend to become price sensitive as growth accelerates. (2) value stocks are historically inexpensive; and(3) our regime model shifted to Recovery, which favors deep value. » McDonald’s shares advanced about 1% in premarket trading after Wells Fargo upgraded the stock to overweight and said the fast-food chain was « firing on all cylinders. » A round of economic data Thursday morning showed a tight labor market in which costs are rising more than expected.

A series of economic data points Thursday — including fewer-than-expected jobless claims — contributed to fears that the still-strong labor market may make the Federal Reserve think twice about relaxing its tight monetary policy stance. Weekly jobless claims came in at 216,000, versus the 230,000 expected by Dow Jones, while second-quarter labor costs rose more than anticipated. Alibaba’s reorganization into six main units announced in March is aimed at unlocking value and fostering competitiveness of a business whose shares have lost approximately 70% of their value in less than three years.

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The Nasdaq Composite fell for a fourth session Thursday as concerns resurfaced over the Federal Reserve’s interest rate policy path, and whether policymakers will enact another hike this year. Get this delivered to your inbox, and more info about our products and services. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment.

The values he wrote about at Alibaba in “The Tao of Alibaba” continue to guide his own life today, even though he is no longer directly in company management. Ma this year has returned to a more visible public presence, though is no longer on Alibaba’s board. In a way, his return is an acknowledgment or a nod to the importance of entrepreneurship,” Wong said. September RBOB gasoline futures (the RBOB stands for reformulated blendstock for oxygenate blending) rose 0.80% Wednesday to $2.6014 a gallon, up 5.8% for the year-to-date.

The Western Union Company provides money movement and payment services worldwide. The company operates in two segments, Consumer-to-Consumer and Business Solutions. The Consumer-to-Consumer segment facilitates money transfers for international cross-border and intra-country transfers, primarily through a network of retail agent locations, as well as through websites and mobile devices. It also offers bill payment services that facilitates payments from consumers to businesses and other organizations, as well as offers money order and other services. The company was founded in 1851 and is headquartered in Denver, Colorado. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors.

What is The Western Union Co’s stock style?

A day earlier, The Wall Street Journal reported the China was moving to prohibit iPhone usage in government agencies. A slew of popular technology and semiconductor stocks dropped during Thursday’s session, pressuring the S&P 500’s information technology sector and the Nasdaq Composite. « Nearline recovery is a ‘finger in the air’ exercise at this point and likely comes later than advertised and the stock trades at 30x our CY24 numbers, » analyst Tom O’Malley in a Thursday note to clients. Copper prices reached their lowest levels in nearly two weeks, as investors around the world fretted over the impact of higher Fed rates on the global economy. Futures hit a low of $3.739 per pound — a level not seen since Aug. 25.

• Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month.
• Even with its 0.1% decline during Thursday’s session, energy is the only S&P 500 sector on pace to finish the week in positive territory.
• « People were hoping the Fed would be on hold for the rest of the year, but it’s possible that we got one or two more rate hikes to come, » said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.
• Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating.
• Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. Western Union’s primary macroeconomic exposure is to employment markets in the developed world, as the search https://1investing.in/ for better economic opportunities is the fundamental driver for money transfers. At this point, we don’t see a long-term catalyst to meaningfully improve growth, with management focused on just stabilizing the business in the near term. Recent geopolitical events have been an additional headwind as the company made the decision to exit Russia, a significant money transfer market.

Undervalued Sustainable Stocks

This repurchase authorization allows the company to purchase up to 13.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued. Western Union’s stock was trading at $13.77 at the start of the year. Since then, WU shares what is pattern have decreased by 7.6% and is now trading at $12.72. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. New CEO Wu was reported to have said in a memo to staff this week that the company needs to embrace changes being brought by AI and attract young talent.

Combined with the recent uptick in energy prices, a strong jobs market will boost the need for the Fed to act and potentially approve more hikes, Zaccarelli said. Fintech group Zepz, which owns money transfer brands WorldRemit and Sendwave, is laying off 420 employees, the company told CNBC exclusively. LONDON & SEATTLE–(BUSINESS WIRE)–Convera, a leading non-bank B2B fintech in global payments, today announced the completion of the acquisition of its European business, marking the end of the transi… Fintech stocks have taken the world by storm, providing tech-minded investors an avenue to combine their vision with some of the top healthcare and finance companies.

Western Union started at neutral with $19 stock price target at UBS

Style is calculated by combining value and growth scores, which are first individually calculated. Upgrade to MarketBeat All Access to add more stocks to your watchlist. One share of WU stock can currently be purchased for approximately $12.72. Long-time Alibaba insider and « The Tao of Alibaba » author Brian Wong, left, with the e-commerce … Stock futures were little changed Wednesday, with Wall Street now focusing on the Federal Reserve’s future path for benchmark interest rates.

We’d like to share more about how we work and what drives our day-to-day business. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. WU’s beta can be found in Trading Information at the top of this page. A stock’s beta measures how closely tied its price movements have been to the performance of the overall market. Style is an investment factor that has a meaningful impact on investment risk and returns.

Zhang at that time continued as chairman and CEO of Alibaba, which is to become more like a holding company with each of the six business groups having its own board of directors and CEO. The six groups are Cloud Intelligence, Taobao Tmall Commerce, Local Service, Cainiao Smart Logistics, Global Digital Commerce and Digital Media and Entertainment. “The move marks the most significant governance overhaul in the platform company’s 24-year history and positions Alibaba’s businesses to capture market opportunities and further stimulate growth,” Alibaba said at the time.

“If we don’t keep up with the changes of the AI era, we will be displaced,” he was quoted as saying. Alibaba already faces a new e-commerce landscape from a few years ago. For instance, TikTok, the hugely popular social media platform owned by China’s ByteDance, for instance, is making a big push into e-commerce. Zhang, after 16 years at the company that included the last four as chairman, would exit and establish an investment fund backed with $1 billion of Alibaba money.

Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. This site is protected by reCAPTCHA and the Google
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provide context on the strength and durability of WU’s
competitive advantage. 712 employees have rated Western Union Chief Executive Officer Hikmet Ersek on Glassdoor.com.

“Jack in everything he did from the onset… was very much someone who created a company with a purpose. And from everything I’ve seen and observed firsthand, that was really the driving force that allowed the organization to succeed through the peaks and troughs and many of the challenges they encountered,” Wong said. He also led the Alibaba Global Initiatives team where he created training programs for entrepreneurs, universities, and government leaders in emerging markets. Alibaba remains an icon of China’s e-commerce clout; its market capitalization at $225 billion makes it one of the world’s most valuable Internet companies. Ma, a former English teacher turned billionaire, has long been viewed around the world as the embodiment of China’s private sector success after China’s Communist Party launched a period of economic four decades ago.

• Apple and Walgreens Boots Alliance were the biggest laggards in the index, falling 3.2% and 2.4%, respectively, during midday trading.
• Billionaire investor Leon Cooperman said Thursday the stock market could be stagnant for an extended period of time, adding that he’s standing by his recession call.
• A series of economic data points Thursday — including fewer-than-expected jobless claims — contributed to fears that the still-strong labor market may make the Federal Reserve think twice about relaxing its tight monetary policy stance.
• The consensus among Wall Street analysts is that investors should « reduce » WU shares.
• September RBOB gasoline futures (the RBOB stands for reformulated blendstock for oxygenate blending) rose 0.80% Wednesday to $2.6014 a gallon, up 5.8% for the year-to-date.

This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.32% per year. These returns cover a period from January 1, 1988 through July 31, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return.

The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. Stockholders of record on Friday, September 15th will be paid a dividend of $0.235 per share on Friday, September 29th. The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 7th 2023. Wong also leads investment firm Seacliff Partners that backs digital startups, and teaches at an entrepreneurship academy he set up earlier at Alibaba.

According to 13 analysts, the average rating for WU stock is « Sell. » The 12-month stock price forecast is $12.45, which is a decrease of -2.12% from the latest price. 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 2022 and is the largest money transfer company in the world. Shares of Western Union Co. fell more than 4% in the extended session Thursday after the financial services company reported quarterly results within expectations but tweaked its 2022 outlook lower, saying it was impacted…

Seagate Technology shed nearly 11%, while Skyworks Solutions, Qualcomm and Qorvo edged down at least 7%. Fintech combines two words — “finance” and “technology,” where companies apply technology to finance businesses. This long-established payments company is modernizing its services and rewarding its investors with a nice dividend. Western Union issued an update on its FY 2023 earnings guidance on Wednesday, July, 26th. The company provided EPS guidance of $1.65-$1.75 for the period, compared to the consensus estimate of $1.62.

We continue to believe Western Union has a moat based on its sizable scale advantage, but with a stagnant top line, the value of the moat going forward could be questioned. 14 Wall Street research analysts have issued twelve-month target prices for Western Union’s stock. On average, they anticipate the company’s share price to reach $12.81 in the next twelve months. This suggests a possible upside of 0.7% from the stock’s current price.

While normalizing server spending should benefit the company in the next year, he noted that hard drive deployment encompass later stages of the artificial intelligence boon. Two ETFs focused on clean energy reached lows not seen in multiple years during Thursday’s session. Apple and Walgreens Boots Alliance were the biggest laggards in the index, falling 3.2% and 2.4%, respectively, during midday trading. The index got a boost from Intel and UnitedHealth, last up about 2% each. Health care stocks Merck, Johnson & Johnson and Amgen gained more than 1%. « September’s credit deluge (and damage) likely will occur in the two weeks prior to FOMC (Sep 20) as bond investors sell/short Treasuries for new credit positions, » he added.

Initial jobless claims totaled a seasonally adjusted 216,000 for the week ended Sept. 2, a drop of 13,000 from the previous period and below the Dow Jones estimate for 230,000, the Labor Department reported. Continuing claims, which run a week behind, totaled 1.679 million, down 40,000 and below the FactSet estimate for 1.725 million. Barclays downgraded shares of Seagate Technology to equal weight from an overweight rating, citing weaker fundamentals and a longer-than-anticipated recovery.

Omega Family Office chairman and CEO Leon Cooperman told CNBC’s « Squawk Box » that he has been buying energy stocks even though he is cautious on the broader market. The firm raised its target price on shares of Micron to $85 from $75, equating to roughly 21% upside from Wednesday’s close. « We believe the current footwear/slowing consumer backdrop will likely prove too challenging and clogged for CROX to avoid downward earnings revisions, » analyst Jeff Lick wrote in a note to clients. According to analyst Brian Nowak, the global average revenue per user for Reels is only at about 28% the rate of other average META engagement. The firm’s base case implies that Reels revenue grows at about 108% year-over-year in 2024, adding $13 billion in ad revenue as Reels reaches $25 billion of revenue in 2024.