Western Union Stock Falls on Immigration Warning
"Money transfer company Western Union said on Monday that the U.S.
immigration debate should weigh on operating income growth through 2007, pulling shares of its parent company down as much as 7.6 percent. Western Union said it expects operating profit growth for 2006 and 2007 in the single-digit percentage range, below the double-digit growth many analysts had forecast," Reuters writes. "The company had said in July that second-quarter results for the money transfer business were hurt by the immigration debate, as both legal and illegal immigrants feared that wiring money back to their home countries would attract government attention."
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