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Stock Market & Financial Investment News

News Breaks
June 27, 2014
06:22 EDTDLPHDelphi Automotive says IRS wants company to be treated as domestic
Delphi Automotive disclosed last night that the IRS issued a Notice of Proposed Adjustment asserting that it believes Section 7874(b) applies to Delphi and that the company should be treated as a domestic corporation for U.S. federal income tax purposes, retroactive to October 6, 2009. "If we are treated as a domestic corporation for U.S. federal income tax purposes, we would be subject to U.S. federal income tax on our worldwide taxable income, including distributions, as well as deemed income inclusions from some of our non-U.S. subsidiaries," Delphi said. It added, "Notwithstanding the issuance of the NOPA, we continue to believe, after consultation with counsel, that Delphi should not be treated as a domestic corporation for U.S. federal income tax purposes. We intend to vigorously contest the conclusions reached in the NOPA through the IRSís administrative appeals process, and, if we are unable to reach a satisfactory resolution with the IRS, through litigation. Accordingly, we will continue to prepare and file our financial statements on the basis that we are UK tax-resident. We have not recorded any adjustments with respect to this matter, nor will we record any adjustments in connection with receiving the NOPA. If we are unsuccessful in contesting the IRSís assertion, we would not expect a material cumulative impact to our historical tax position at this time. However, we expect any unfavorable final outcome to adversely impact our tax position by increasing our annualized effective tax rate to approximately 20% to 22%. For the year ended December 31, 2013, our effective tax rate was 17%."
News For DLPH From The Last 14 Days
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October 24, 2014
07:22 EDTDLPHDelphi Automotive sees FY14 CapEx $800M
Sees FY14 adjusted effective tax rate 17%. Sees FY14 depreciation and amortization $600. Sees FY14 cash flow before financing $1.1B. Sees FY14 adjusted operating income margin 11.8%.
07:02 EDTDLPHDelphi Automotive sees FY14 adjusted EPS $5.00-$5.10, consensus $5.04
Sees FY14 revenue $17B-$17.3B, consensus $17.28B.
07:01 EDTDLPHDelphi Automotive reports Q3 EPS ex-items $1.16, consensus $1.13
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October 23, 2014
15:39 EDTDLPHNotable companies reporting before tomorrow's open
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09:34 EDTDLPHDelphi Automotive initiated with a Buy at Buckingham
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October 22, 2014
13:02 EDTDLPHDelphi Automotive exploring sale of Thermal unit, Bloomberg reports
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12:33 EDTDLPHDelphi Automotive looks to sell thermal unit, seeks about $1B, Bloomberg says
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October 21, 2014
10:00 EDTDLPHOn The Fly: Analyst Initiation Summary
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06:27 EDTDLPHDelphi Automotive initiated with a Positive at Susquehanna
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