The remittance and network industries had strong showings on the stock market this week, with the former industry gaining nearly five percent and the latter over three percent.
The remittance industry was bolstered by The Western Union Co., which saw a 5.3 percent increase to $19.11 for a market capitalization of $11.51 billion. The company announced a $0.10 quarterly cash divided per common share on Thursday.
MasterCard had the best week among networks, gaining 4.1 percent to $454.18 a share. Visa increased 3.5 percent to $134.25 after losing about half a percent on Friday at close. American Express and Discover each finished with around a 2.5 percent gain as well.
The top overall gainer of the week was Green Dot Corp, which saw a 9.4 percent gain to boost its share value to $13.21. This is the second strong week in a row for the prepaid issuer, as the company continues its resurgence after losing over 60 percent of its stock value overnight in July. Global Cash Access Holdings Inc. also had an impressively strong week, finishing at a $8.50 for a 9.1 percent increase on the heels of its announcement that it will sponsor iGaming Congress at G2E.
French-based POS Equipment company Ingenico SA had the worst week, suffering a 5.1 percent loss to fall to $39.84. VeriFone Systems Inc., Netspend Holdings Inc., Fidelity National Information Services Inc. and MoneyGram International Inc. all lost around 2.5 percent.
Acquirer/Processor was the only industry with an overall net loss this week, although they collectively dropped just over half a percent thanks to a solid week by Global Payments Inc.
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