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Stock Market & Financial Investment News

News Breaks
July 21, 2014
11:31 EDTIBM, XRXXerox names Kennedy Chief Marketing Officer
Xerox (XRX) announced the appointment of John Kennedy as Chief Marketing Officer and a vice president of the corporation, effective July 28. Kennedy joins Xerox from IBM (IBM), where he was vice president, global business services.
News For XRX;IBM From The Last 14 Days
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January 29, 2016
09:11 EDTXRXXerox split to 'greatly enhance' shareholder value, Icahn says
Carl Icahn, who this morning reported an increased stake of 9.12% in Xerox, said via the twitter that he believes the company's separation will "greatly enhance value" for shareholders. "I applaud and respect Ursula Burns for doing what she believes shareholders want - as @Donahoe_John did with $EBAY and $PYPL," the billionaire tweeted. "I hope and believe the results will be just as good for $XRX shareholders," he added.
07:28 EDTXRXXerox to hold a conference call
Management discusses the company separating into two independent publicly-traded companies on a conference call to be held on January 29 at 10 am. Webcast Link
07:16 EDTXRXXerox CEO says would field any offers if bidders expressed interest
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07:13 EDTXRXBurns says 'big shift' in healthcare markets played role in break-up decision
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07:05 EDTXRXXerox CEO: Icahn had 'nothing to do' with initiating review that led to split
Xerox Chairman and CEO Ursula Burns is speaking on CNBC.
06:49 EDTXRXXerox board increases quarterly dividend 11% to 7.75c per share
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06:49 EDTXRXXerox sees Q1 adjusted EPS 21c-24c, consensus 21c
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06:49 EDTXRXXerox and Carl Icahan enter agreement related to governance of BPO
Xerox and Carl C. Icahn announced that they have entered into an agreement related to the governance of the Business Process Outsourcing company that will be created as a result of the planned separation of Xerox into two independent, publicly-traded companies, which was announced earlier today. Under the agreement, when the separation is complete, the BPO company will have certain best-in-class corporate governance provisions and a Board of Directors composed of nine members: six directors selected by Xerox and three directors selected by Icahn. In addition, in connection with the planned separation, Xerox agreed that a committee of its Board of Directors will begin searching for an external candidate to be Chief Executive Officer of the BPO company and to allow a person selected by Icahn to observe and advise the committee in that search process.
06:49 EDTXRXXerox sees FY16 adjusted EPS $1.10-$1.20, consensus 99c
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06:48 EDTXRXXerox reports Q4 adjusted EPS 32c, consensus 28c
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06:48 EDTXRXXerox to begin separation process when it finalizes transaction structure
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06:47 EDTXRXXerox announces three year strategic transformation program
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06:47 EDTXRXXerox to separate into two public companies
Xerox announced today the results of its review of the company's portfolio and capital allocation options announced in October 2015. The board of the company has unanimously approved management's plan to separate Xerox into two independent publicly- traded companies. The Document Technology company will continue to be a global leader in document management and document outsourcing with approximately $11 billion in 2015 revenue. The Business Process Outsourcing (BPO) company will be an industry leader that helps clients improve the flow of work by leveraging its expertise in managing transaction-intensive processes and applying innovations to automate and simplify business processes. With approximately $7 billion in 2015 revenue - more than 90% of which is annuity based - the company is focused on attractive growth markets including transportation, healthcare, commercial and government services.
06:46 EDTXRXXerox to separate into two public companies
January 28, 2016
16:42 EDTXRXXerox to split in two, give Icahn three board seats, WSJ says
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15:55 EDTXRXXerox to announce break-up Friday, Icahn to get board seats, Dow Jones reports
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15:19 EDTIBMEarnings Watch: Hard drive makers report with analysts upbeat on SanDisk deal
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15:18 EDTIBMIBM to acquire digital marketing and creative agency Resource/Ammirati
IBM announced its intent to acquire Resource/Ammirati -- a US-based digital marketing and creative agency -- combining the companies' strategic, creative and technology talents to "address rising demand from businesses seeking to reinvent themselves for the digital economy and provide differentiated experiences to their customers." This is IBM's first acquisition of a digital marketing creative agency, the company said. The deal is projected to close in the first quarter of 2016, subject to satisfaction of customary closing conditions and applicable regulatory reviews. Financial details were not disclosed.
January 27, 2016
09:29 EDTIBMFacebook data center project supported by telco heavyweights, FT reports
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06:01 EDTIBMIBM names Ford President and CEO Mark Fields to board, effective March 1
The IBM (IBM) board of directors yesterday elected Mark Fields to the board effective March 1, 2016. Fields is president and CEO, Ford (F). Ginni Rometty, IBM chairman, president and CEO, said: "We are pleased that Mark will be joining the IBM board of directors. Mark led the highly successful transformation of his company in a competitive industry where technology has driven innovation. He is leading Ford into a future where cars are not only vehicles, but increasingly becoming mobile technology platforms. His knowledge and insights in running a complex global business will make a significant contribution to IBM."
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