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Stock Market & Financial Investment News

News Breaks
April 30, 2014
08:25 EDTADP, ADPADP to host conference call
Conference call to discuss the April 2014 ADP National Employment Report will be held on April 30 at 8:30 am.
News For ADP From The Last 14 Days
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October 1, 2014
12:37 EDTADPOn The Fly: Midday Wrap
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09:20 EDTADPOn The Fly: Pre-market Movers
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07:06 EDTADPCDK Global begins trading as independent company
CDK Global (CDK) was officially spun off from Automatic Data Processing (ADP) on Tuesday, September 30. The newly independent company begins trading as a member of the S&P MidCap 400 Index. As a result of the spinoff, ADP shareholders received one share of CDK Global stock for every three shares of stock they held in ADP on September 24. Approximately 160.6M shares of CDK Global stock were distributed on September 30 to ADP shareholders.
September 29, 2014
07:43 EDTADPADP sees FY15 adjusted EPS $3.49-$3.55, consensus $3.52
Sees FY15 ADP EPS from Continuing Operations including $825M of Share Repurchases $2.89-$2.93. ADP provided updated FY15 guidance in anticipation of the spin-off of its Dealer Services business unit, to be named CDK Global. With the completion of the spin-off, ADP will report results of operations of the former Dealer Services business as discontinued operations. As a result, ADP revised its guidance for the current fiscal year ending June 30, 2015, and is now forecasting diluted EPS from continuing operations on a comparable basis to grow 12%-14% in FY15 over last fiscal year's restated $2.58 per share. This forecast includes a 2c benefit resulting from incremental share repurchases funded by the $825M in dividend proceeds the company expects to receive from CDK Global as a result of the spin-off. The company anticipates completing the $825M share repurchase by June 30, 2015, depending on market conditions. The FY15 revenue growth forecast is unchanged and is expected to rise 7%-8%. See the accompanying table at the end of this release for the full year pro-forma 2014 financials and 2015 guidance presented with Dealer Services reported within discontinued operations.
September 23, 2014
17:58 EDTADPCDK Global set to join S&P MidCap 400, Bill Barrett to join S&P small cap 600
CDK Global Inc. (CDKVV) will replace Bill Barrett (BBG) in the S&P MidCap 400, and Bill Barrett will replace ITT Educational Services (ESI) in the S&P SmallCap 600 after the close of trading on Tuesday, September 30. S&P 500 constituent Automatic Data Processing (ADP) is spinning off CDK Global in a deal expected to be completed on that date. Bill Barrett's market capitalization is below $1.2B, making it more representative of the small cap market space. ITT Educational Services is ranked at the bottom of the S&P SmallCap 600. CDK Global provides integrated information technology and digital marketing solutions to retail locations and manufacturers. Headquartered in Hoffman Estates, IL, the company will be added to the S&P MidCap 400 GICS Application Software Sub-Industry index. Bill Barrett acquires, explores, and develops oil and natural gas resources. Headquartered in Denver, CO, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Exploration & Production Sub-Industry index.
17:27 EDTADPCDK Global Inc. to replace Bill Barrett in S&P 400 as of 9/30 close
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September 17, 2014
08:03 EDTADPADP AdvancedMD EHR receives ONC-ACB certification by Drummond Group
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