Western Union (WU, Financial) dipped approximately 6% on concerns about compliance costs and disruptive competition. The company announced flat revenues, but noted continued growth in its online money transfer transaction and consumer bill payment business. The company returned more than $300 million to shareholder through share buybacks and dividends during the first quarter of 2017.
From Bernard Horn (Trades, Portfolio)'s Polaris Global Value Fund second quarter 2017 shareholder letter.
