CNQR:
Concur Tech: American Express partnership a solid win - McAdams Wright Ragen (42.20 +6.15) -Update : McAdams Wright Ragen notes that CNQR announced a strategic partnership with American Express (AXP) under which AXP will exclusively promote CNQR's expense management solution and will invest $251 mlnfor a 13% stake. Considering AMEX's 60%+ market share of the corporate credit card market, the firm believes this partnership to be a solid win for CNQR as it dramatically boosts the co's distribution footprint and bolsters its market position by eliminating competitive threats investors believed AMEX to pose. The firm also notes that the co reports Q1 results on July 30 after the close, and they are expecting another beat-and-raise qtr.
Monday, August 4, 2008
8/4T3:21
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