BTIG analyst Mark Palmer said he believes the uptick in Western Union (WU) shares after the announcement of Euronet's (EEFT) offer to buy competitor MoneyGram (MGI) makes some sense as Euronet may be seen as less of a competitive threat than Alibaba's (BABA) Ant Financial, which previously struck a deal to buy MoneyGram, and the bid underscores the attractiveness and potential of the global remittance space. However, speculation that if Ant was unsuccessful in its effort to acquire MoneyGram it could look to acquire VeriFone (PAY) or Green Dot (GDOT) "makes less sense," said Palmer.
News For WU;PAY;GDOT;MGI;EEFT;BABA From the Last 2 Days
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSImpinj (PI) up... To see the rest of the story go to thefly.com. See Story Here