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Stock Market & Financial Investment News

News Breaks
March 5, 2014
04:55 EDTXRX, XRXXerox management to meet with Brean Capital
Meeting to be held in Atlanta on March 12 hosted by Brean Capital.
News For XRX From The Last 14 Days
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October 13, 2015
07:35 EDTXRXXerox says 'not probable' implementation of HEM platform to be completed in CA
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07:34 EDTXRXXerox still sees Q3 adjusted EPS 22c-24c, consensus 23c
Now sees Q3 GAAP EPS (5c)-(3c).
07:33 EDTXRXXerox: Q3 to reflect $240M charge related to HEM platform implementations
Xerox provided an update regarding the strategic direction of its government healthcare business, specifically addressing the implementation of its Health Enterprise Medicaid platform in California and Montana. "Today's announcement builds on the change in strategy from last quarter," said Ursula Burns, Xerox chairman and CEO. "We are taking additional steps to improve our financial performance and significantly reduce the volatility of our results going forward." Late in the third quarter, discussions took place with clients in California and Montana regarding the status and scope of current Health Enterprise platform projects, which evolved to include options to not fully complete the projects. Based on those discussions, Xerox believes it is probable that it will not fully complete the implementation of the platform in these states. Xerox expects to continue to process Medicaid claims using the existing legacy systems, thus providing uninterrupted service for the states' healthcare providers and constituents. Xerox remains committed to the implementation and ongoing operation of the Health Enterprise platform for its other state clients. In addition, the company will continue to provide other innovative government healthcare solutions to the 35 states and their citizens whom it serves. Xerox has a diverse portfolio of healthcare solutions and will focus on the more profitable market segments from which it derives over two thirds of its current government healthcare revenues. As a result of these developments, Xerox is recording a pre-tax charge of approximately $385 million, or $240M after-tax, in its third-quarter 2015 results reflecting estimated settlement costs and other impacts from these changes. The charge reflects approximately $130 million for the write-off of receivables and other related assets as well as approximately $30 million of non-cash impairment charges, with the remainder of the charge expected to be cash outflows in future quarters.
October 6, 2015
10:02 EDTXRXXerox and Mitsubishi Heavy Industries sign Memorandum of Understanding
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October 5, 2015
10:50 EDTXRXDiageo appoints Kathryn Mikells as CFO effective November 9
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09:01 EDTXRXXerox says CFO Kathryn Mikells to step down to pursue another opportunity
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