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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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July 28, 2014
10:02 EDTXRXOn The Fly: Analyst Upgrade Summary
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06:39 EDTXRXXerox upgraded to Neutral from Underweight at JPMorgan
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July 25, 2014
11:00 EDTXRXXerox sees FY14 restructuring charges similar to last year
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10:30 EDTXRXXerox expects to return $1B to shareholders this year
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09:59 EDTXRXXerox continues to expect to end year with $7.8B of debt
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09:25 EDTXRXOn The Fly: Pre-market Movers
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07:04 EDTXRXXerox sees Q3 adjusted EPS 25c-27c, consensus 26c
07:04 EDTXRXXerox sees FY14 adjusted EPS $1.09-$1.13, consensus $1.10
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07:03 EDTXRXXerox reports Q2 adjusted EPS 27c, consensus 26c
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July 24, 2014
15:29 EDTXRXNotable companies reporting before tomorrow's open
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07:11 EDTXRXXerox August volatility elevated into Q2 and revenue growth outlook
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July 21, 2014
11:31 EDTXRXXerox names Kennedy Chief Marketing Officer
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