Western Union Company (WU): Shares define bullish 'flag' formation

Filed under: Good news, Technical Analysis, Western Union (WU), Stocks to Buy

Western Union Company (NYSE: WU) provides a range of money transfer and bill payment services worldwide. Its consumer-to-consumer operations involve multi-currency and real-time processing systems for walk-in, online, and telephone money transfers. Its consumer-to-business operations enable payments to utilities, auto finance companies, mortgage servicers, financial service providers, and governmental agencies. The firm also offers money order products and advance payment services. Western Union does business through a network of more than 345,000 locations, in over 200 countries and territories.

Investors were pleased last week, when the company guided Y08 EPS to the higher end of the range $1.25-$1.29 and revenues to the higher end of the range $5.341-$5.439 billion. Analysts had been expecting $1.28 and $5.420 billion. Management also raised its long-term EPS growth objective from 12-14% to 15-18%, reaffirmed its long-term revenue growth objective of 10-12%, and announced that the board had authorized an additional $1 billion for share repurchases.

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