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Stock Market & Financial Investment News

News Breaks
June 18, 2014
05:30 EDTDOXAmdocs downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Amdocs to Market Perform saying telecom consolidation in North America will likely cause a slowdown in the company's revenue growth over the next 6-12 months. Wells keeps a $48-$49 price target range for shares.
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July 2, 2015
16:08 EDTDOXAmdocs sees Comverse BSS assets acquisition neutral to EPS in first year
Amdocs announced that it has completed the acquisition of a substantial majority of Comverse's business support systems, or BSS, business unit assets, for approximately $273M in cash, including its converged, prepaid, postpaid and Kenan billing assets. The acquisition geographically complements Amdocs' existing activities by expanding and diversifying the company's global customer base, particularly in Europe, Asia-Pacific and Latin America, where Comverse has a wide BSS customer footprint. Consistent with guidance provided on April 29, Amdocs expects the acquisition of the Comverse BSS assets to contribute revenue in the low tens of millions of dollars for the first couple of quarters after closing. The impact of the acquisition on Amdocs' diluted non-GAAP EPS is expected to be neutral in the first year after closing and accretive thereafter. The impact on diluted GAAP EPS will be finalized after Amdocs completes the purchase price allocation. Amdocs expects to incur acquisition-related expenses related to operating adjustments, restructuring charges and other acquisition-related costs.

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