Today’s Research Reports on Stocks to Watch: PayPal and Walmart
Shares of Walmart and PayPal were moving in opposite direction in Thursday’s trading. PayPal and Walmart have collaborated to allow PayPal users to withdraw and add money to their PayPal balances at Walmart locations.
RDI Initiates Coverage on:
PayPal Holdings, Inc.
PayPal Holdings, Inc. shares were up a modest 0.60% at the close yesterday but then also saw gains of 1.95% in after-hours trading. The stock traded nearly 20 million shares after it was announced that the company is collaborating with Walmart for new PayPal cash in and cash out services at Walmart stores, as well as the ability for PayPal Cash MasterCard customers to access their cash balance in-store at service desks, ATMs and cash registers. This move makes it the first time that PayPal mobile app users will be able to take cash out from their account balance at a brick-and-mortar environment. However, the cash-out and cash-in transactions has a service fee of $3 attached to them. “Walmart is committed to expanding access to financial services products that are convenient, easy to use and available for everyday low prices,” remarked Daniel Eckert, senior vice president of Walmart Services & Digital Acceleration. The companies are expecting to have the service at all Walmart stores in the U.S. by early November.
Access RDI’s PayPal Holdings, Inc. Research Report at:
Walmart Inc. shares closed down nearly 2% on Thursday on almost 10 million shares traded. It was quite a busy day of news for the big box retailer. Walmart has partnered up with PayPal to offer users the ability to withdraw and deposit money into their PayPal accounts. The service, which is available for those using the PayPal mobile app and the PayPal Cash Mastercard, will have a $3 fee each time it is used. “With 90 percent of Americans living within 10 miles of a Walmart store, we know that offering PayPal cash in and cash out money services for an exclusive low fee is going to provide great value to the many people who rely on Walmart and PayPal to help manage and move their money,” said Daniel Eckert, Senior Vice President of Walmart Services & Digital Acceleration. Walmart has also agreed to pay $65 million to nearly 100,000 current and former cashiers in California who accused the company violating state law by refusing to provide them with seating while they worked. Then in other news, Walmart as well as Walmart Foundation, Sam’s Club and Foundation For The Carolinas announced $2.5 million to help with Hurricane Michael relief and recovery. “Our friends and family in the Florida Panhandle are experiencing tremendous loss as a result of this catastrophic storm,” said Dan Bartlett, the executive vice president of corporate affairs for Walmart.
Access RDI’s Walmart Inc. Research Report at:
Our Actionable Research on PayPal Holdings, Inc. (NASDAQ: PYPL) and Walmart Inc. (NYSE: WMT) can be downloaded free of charge at Research Driven Investing.
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