Is the rise in Western Union's stock price telling us that illegal immigration amesty is just around the corner?
Western Union's recent Third Quarter Results press release noted the following regarding domestic money transfer transactions (emphasis added):
... During the quarter we saw strong, consistent growth in our international markets, which represent 60% of total Western Union revenue. This strong international performance offset softness in our domestic and Mexico businesses....The stock has seen a steady rise in its stock price in the last few days:
...In the third quarter, domestic money transfer transactions declined 5%. The weakness in the domestic business was primarily attributable to softness in demand among Western Union's Hispanic consumers as a result of the controversy surrounding immigration...
Posted by Porkopolis at 11/09/2006 03:57:00 PM
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1 Comments:
Don't forget Western Union's partnership with the Mexican government.
Three other big players in the remittance sweepstakes are Bank of America, Wells Fargo, and Citibank.
I wonder if there's a mutual fund that focuses on the remittance industry? ;)
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