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Stock Market & Financial Investment News

News Breaks
May 9, 2014
17:18 EDTXRXXerox issues statement on Texas lawsuit and dismissal
The company said, "The lawsuit filed today by the Texas Attorney General's office regarding Xerox's performance administering the state's Medicaid orthodontic program is misdirected. Xerox will defend itself vigorously. We are also disappointed with the HHSC decision to replace Xerox as Medicaid provider. It has always been and continues to be our objective to reach a resolution with HHSC and the state on their concerns, and hopefully we can find a path forward to attain a reasonable result to address our differences. While we're disappointed in this development, Xerox will continue to serve disadvantaged and underserved Medicaid beneficiaries in Texas during the transition. The Medicaid orthodontia program provides disadvantaged children with access to critical orthodontia procedures – such as braces – because their families are not in a position to provide this care. Unfortunately, this misdirected lawsuit focuses on Xerox rather than on the dentists who took advantage of the program. We have never engaged in fraudulent activity and always operated with complete transparency. Xerox, under its Texas Medicaid & Healthcare Partnership, has always performed its work in good faith. Moreover, the entire program Xerox implemented was designed by HHSC. Xerox received HHSC approval on each of its processes and Xerox also provided monthly reports to HHSC from the beginning of the program and continues to do so today. Xerox has always collaborated with HHSC to ensure the integrity of the state's Medicaid system since the contract was first awarded in 2003, then re-awarded in 2010 and extended in 2012. While we are certainly disappointed HHSC has filed suit, we're committed to a smooth transition of responsibilities to ensure no disruption of services to Medicaid beneficiaries and the providers who care for them."
News For XRX From The Last 14 Days
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November 17, 2014
19:11 EDTXRXXerox management to meet with Piper Jaffray
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November 12, 2014
10:03 EDTXRXXerox to invest in HealthSpot, terms not disclosed
Xerox is investing in HealthSpot, Inc., a pioneer in patient- and provider-driven healthcare technology. The investment enables groundbreaking telehealth to be delivered to patients in convenient locations nationwide. Xerox is also partnering with HealthSpot to combine its software platform with Xerox’s business process services expertise. As the exclusive BPO provider, Xerox will deliver cloud hosting, system integration, claims eligibility and claims submissions solutions.
November 11, 2014
08:03 EDTXRXXerox still sees FY14 adjusted EPS $1.11-$1.13, consensus $1.12
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08:02 EDTXRXXerox sees FY15 adjusted EPS $1.11-$1.17, consensus $1.18
During its investor conference, the company will outline its expectations for 2015 financial performance. Full-year 2015 GAAP earnings per share are expected to be in the range of 93c-99c. Adjusted earnings per share are expected to be $1.11-$1.17. Guidance includes 6c from higher pension settlement expense. 2014 full-year expectations remain unchanged with GAAP earnings per share from continuing operations to be in the range of 93c-95c and full-year adjusted EPS of $1.11-$1.13. For 2015, Xerox expects operating cash flow of $1.9B-$2.1B. The company also expects to allocate at least $500M for stock buyback, and anticipates spending up to $500 million on acquisitions and approximately $300M on dividends. Building on its share repurchase plan, Xerox’s board of directors has approved $1.5B increase in its current share repurchase plan. The company continues to expect operating cash flow for 2014 at the $1.8B-$2B range.
November 10, 2014
13:10 EDTXRXXerox volatility elevated into investor meeting
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