Xoom Corp News and Headlines -
An earlier PayPal article assumed quickly and disregarded Western Union (WU), a $10 billion money transfer agent, for its lack of revenue growth.
(Read PayPal article: PayPal Breaks Through)
(Western Union, annual filing)
On Aug. 3, Western Union delivered its second quarter results. The financial services company lost 1.15% in quarterly sales to $2.67 billion and 0.48% to $391 million six months into 2016. Western Union closed up 3.87% the following day while the broader market, Standard & Poor's 500, closed 0.02%.
“We delivered another solid quarter, led by strong growth from our
Royce Global Financial Services Fund fell 4.7% in 2015, compared to a loss of 4.4% for its small-cap benchmark, the Russell 2000 Index, and a gain of 3.1% for the financial services component of the Russell 2500 Index for the same period. The first half of the year was better than the second. For the year-to-date period ended June 30, 2015, the Fund advanced 7.2%, easily outperforming both its smallcap benchmark, which was up 4.8%, and the Russell 2500 Financial Services Index, which was up 3.1% for the same period.
A sweeping correction hit the equity markets in
Mario Cibelli (Trades, Portfolio) of Marathon Capital Management tends to invest on a long-term basis – in stocks he believes will double in a handful of years. His third-quarter purchases may well be in his portfolio three or four years from now.
Cibelli’s most noteworthy third-quarter transaction was his reduction of his stake in Xoom Corp. (XOOM), a San Francisco-based digital money transfer or remittance provider, by more than 51%. Cibelli sold 820,000 shares for an average price of $24.85 per share. The deal had a -7% impact on his portfolio.
After separating from eBay (EBAY), PayPal Holdings Inc. (PYPL) is on track to complete its acquisition of Xoom (XOOM) and expand its business in the payments market. The acquisition of Xoom was first announced on July 1 following the approval of the boards of directors for PayPal, Xoom and eBay. On Sept. 4, Xoom's shareholders approved the acquisition, and the final closing is now expected for the fourth quarter of 2015.
PayPal began operating as its own entity after divesting from eBay on July 17. Its shares are now listed on the NASDAQ under the symbol PYPL. According to
Long-term investor Mario Cibelli (Trades, Portfolio) has a reputation for investing in stocks he believes will double in a few years. A good example of his talent is the fact that he was an early investor in Netflix (NFLX), buying it when shares were selling for $10. Late in Thursday’s trading session, Netflix was trading for more than $116.
Cibelli’s most significant transactions in the second quarter were his reductions of his stakes in Shutterfly Inc. (SFLY) and Xoom Corp. (XOOM).
Cibelli sold 205,000 shares of Shutterfly, a Redwood City, Calif.-based image publishing service, for an average
Guru Mario Cibelli (Trades, Portfolio), who founded Marathon Partners nearly 20 years ago and has a reputation as a long-term investor, increased his stakes in familiar companies in his portfolio in the fourth quarter.
Cibelli added to the two largest stakes (by volume) in his portfolio – Shutterfly Inc (SFLY) and Xoom Corp (XOOM).
In two separate purchases, one in October and one in December, Cibelli added a total of 770,000 shares to his stake in Xoom, a San Francisco-based digital money transfer company and the largest stake in Cibelli’s portfolio. Cibelli paid $14.41 per share in
When Mario Cibelli (Trades, Portfolio) chose the name of his firm, Marathon Capital Management, he was probably referring to the way he purchases stocks. Cibelli is not a sprinter when it comes to stocks; he likes to take longer strides and hold on to the stocks he believes have the potential to double within three to five years.
Cibelli learned of his appreciation for the stock market when he was just a boy in the seventh grade, when his social studies teacher explained to his class just how the market works. He then had his father
Mario Cibelli (Trades, Portfolio), an investor who once worked for GAMCO Investors’ Mario Gabelli (Trades, Portfolio) but founded his own firm in 1997, added to two positions in the past week: Shutterfly Inc. (SFLY) and Xoom Corp (XOOM). His Marathon Partners bought 454,800 shares of Shutterfly, bringing the total shares held to 2,314,800. It also added 910,800 shares of Xoom Corp, for a total of 2,135,800 shares held, GuruFocus Real Time Picks reported.
Shutterfly, a collection of digital brands, announced a 16% year-over-year increase in revenue
[url=http://www.gurufocus.com/StockBuy.php?GuruName=Mario+Cibelli]Mario Cibelli[/url] ([url=http://www.gurufocus.com/StockBuy.php?GuruName=Mario+Cibelli]Trades[/url], [url=http://www.gurufocus.com/holdings.php?GuruName=Mario+Cibelli]Portfolio[/url]) is a newly added guru at GuruFocus. He works as the Managing Partner at Marathon Partners in New York. The fund’s website identifies them as a “fundamental, research intensive investment firm” that deploys capital to be invested on a long-term scale. [url=http://www.gurufocus.com/StockBuy.php?GuruName=Mario+Cibelli]Mario Cibelli[/url] ([url=http://www.gurufocus.com/StockBuy.php?GuruName=Mario+Cibelli]Trades[/url], [url=http://www.gurufocus.com/holdings.php?GuruName=Mario+Cibelli]Portfolio[/url])’s fund maintains a smaller equity portfolio that focuses heavily on the consumer goods sector.
Over the past quarter our new guru added four new stocks bringing his portfolio holdings to 37 valued at $220 million. The following five holdings are Cibelli’s top five positions as of the first quarter.
Xoom Corporation (XOOM) is a leading online money transfer application company serving India, the Philippines, Latin America and other regions. The company reported a strong fourth quarter but guided the first quarter slightly below Wall Street expectations. Full year guidance was ahead of expectations, but concerns around the strength of the rupee, Western Union's plan to enter India with an online offering, and early venture capital investors selling shares caused Xoom's stock to pullback significantly during the first quarter. We continue to believe in Xoom's ability to gain market share and execute against a large opportunity. (Gilad Shany)
Xoom Corporation (XOOM), a money transfer service provider, was down 14.5% in the quarter. While the company reported solid third quarter earnings results, it issued guidance for the fourth quarter that was disappointing. Investors were also concerned that Typhoon Haiyan would impact transaction volumes in the Philippines, which is one of Xoom's highest volume markets. We believe Xoom has a large opportunity in online money transfer and ultimately can continue to take share from its bigger competitors.
From [url=http://www.gurufocus.com/StockBuy.php?GuruName=Ron+Baron]Ron Baron[/url] ([url=http://www.gurufocus.com/StockBuy.php?GuruName=Ron+Baron]Trades[/url], [url=http://www.gurufocus.com/holdings.php?GuruName=Ron+Baron]Portfolio[/url])'s Baron Funds fourth quarter 2013 letter to shareholders.
|2014-05-12 $ 21.55 (-0.19%)|
|2014-02-26 $ 29.02 (3.27%)|
|2013-11-21 $ 27.41 (1.33%)|
|2013-08-20 $ 28.18 (3.19%)|
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