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What: Shares of MoneyGram
So what: Through a freshly inked three-year agreement, MoneyGram will continue providing its branded financial services throughout Wal-Mart stores in the U.S. and Puerto Rico, including money transfers, bill payments, and money orders. It's an extension of the two companies' 13-year relationship.
Now what: This is the fourth time that MoneyGram has renewed the deal with Wal-Mart since 1999, and it technically begins in April of next year. Investors are cheering today for MoneyGram's continued presence throughout Wal-Mart's wide network of stores. The deal renewal removes any potential uncertainties, and the bulls were out in full force today.
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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.