New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 20, 2013
16:25 EDTXRXXerox raises quarterly dividend 35% to 5.75c per share
Xerox's board declared a 35% increase in the company's quarterly cash dividend to 5.75c per share on Xerox common stock. The dividend is payable on April 30 to shareholders of record on March 28.
News For XRX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 >>
January 31, 2016
20:15 EDTXRXXerox CEO: Company split wasn't about panic, WSJ says
Subscribe for More Information
11:39 EDTXRXS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
January 29, 2016
17:12 EDTXRXOn The Fly: Top stock stories for Friday
Stocks began the session in positive territory and remained there throughout the day. The early strength was attributed to the surprise cut in interest rates by the Bank of Japan that put the country in a negative interest rate scenario. The market gained strength throughout the day and put in gains of almost 2.5% in what was a broad based advance for the major averages. January closed out with two winning weeks, but the month was still a very bad one for stocks, as the S&P lost over 5% even after today's strong showing. ECONOMIC EVENTS: In the U.S., the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The Chicago PMI business barometer bounced to 55.6 in January, topping forecasts for a 45.3 reading. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast. In a surprise move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: Shares of Amazon (AMZN) declined 7.6% to $587 after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings after last night's closing bell, gained 5.8% to $55.09... Confirming a news report that broke late in the day yesterday, Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44. MAJOR MOVERS: Among the notable gainers was Axiall (AXLL), which jumped 83% to $17.94 after it came to light that the company received, and rejected, an unsolicited proposal from Westlake Chemical (WLK) offering to acquire the company for $20 per share in cash and stock. Also higher were Visa (V) and Mastercard (MA), which gained 7% and 6.4%, respectively, after reporting quarterly earnings. Among the notable losers was Gilead (GILD), which fell 5.5% to $82.70 after rival Merck (MRK) received FDA approval for its own hepatitis C drug. Also potentially weighing on Gilead shares was the fact that competitor AbbVie (ABBV) announced financial results for the fourth quarter, including sales of Viekira Pak, its own hep C treatment, that fell short of estimates. AbbVie fell 2.3% to $54.58 following its quarterly report. INDEXES: The Dow rose 396.66, or 2.47%, to 16,466.30, the Nasdaq gained 107.28, or 2.38%, to 4,613.95, and the S&P 500 added 46.88, or 2.48%, to 1,940.24.
14:57 EDTXRXS&P lowers Xerox to BBB- from BBB, watch Negative
Subscribe for More Information
12:50 EDTXRXOptions with increasing put volume
Options with increasing put volume: MNST STLD LC LPX DRII MEOH STMP VMW XRX XLP
10:50 EDTXRXXerox sees FY16 revenue down 2%-4% in constant currency terms
Says FY16 revenue trend to improve "modestly," with currency remaining a headwind of (1) to (2) pts. FY16 revenue consensus $17.91B. Guidance from earnings call presentation slides.
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
Subscribe for More Information
07:13 EDTXRXBurns says 'big shift' in healthcare markets played role in break-up decision
Subscribe for More Information
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
Subscribe for More Information
06:49 EDTXRXXerox sees Q1 adjusted EPS 21c-24c, consensus 21c
Subscribe for More Information
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
Subscribe for More Information
06:48 EDTXRXXerox reports Q4 adjusted EPS 32c, consensus 28c
Subscribe for More Information
06:48 EDTXRXXerox to begin separation process when it finalizes transaction structure
Subscribe for More Information
06:47 EDTXRXXerox announces three year strategic transformation program
Subscribe for More Information
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
1 | 2 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use