On Friday, Shares of Xerox Corporation (NYSE:XRX), gained 2.07% to $10.83.
Xerox Corporation, declared changes in the company’s Government Healthcare Solutions strategy resulting from a comprehensive review of its in-process Health Enterprise Medicaid platform implementations and future market opportunities.
Going forward, Xerox will focus on managing and concluding the current Health Enterprise implementations, and will be highly selective in responding to new Medicaid Administration Information System opportunities. In addition, the company will discontinue investment in and sales of the Xerox Integrated Eligibility System in order to concentrate more of its future software development efforts on the existing Health Enterprise implementations.
As a result of this planned change, Xerox will record a pre-tax non-cash software impairment charge of about $145 million (about $90 million after-tax or 8 cents per share) in its second-quarter 2015 results. We now expect second-quarter 2015 GAAP earnings from ongoing operations of 9 to 11 cents per share, which is below the company’s preceding guidance. Not taking into account the impairment charge, adjusted earnings per share is predictable to be in line with the company’s preceding guidance of 21 to 23 cents.
Xerox Corporation provides business process and document administration solutions worldwide. The company’s Services segment offers various business process outsourcing services, such as customer care, transaction processing, human resources, communication and marketing, and consulting and analytics services, in addition to finance, accounting, and procurement services.
Shares of Coach, Inc. (NYSE:COH), declined -1.39% to $31.85, during its last trading session, hitting its lowest level, as Credit Suisse lowered its price target on Coach’s stock to $33 from $36 and reduced its full year 2015, 2016 and 2017 earnings per share estimates.
The firm said it cut its numbers on the luxury handbag, apparel, shoes and accessories retailer based on raised promotional activity in its handbag business. Credit Suisse maintained its “neutral” rating on Coach stock.
Coach, Inc. provides luxury accessories and lifestyle collections for women and men in the United States and internationally. It offers handbags, money pieces, wristlets, rings, charms, and cosmetic cases for women; and business cases, computer bags, messenger-style bags, totes, wallets, card cases, and belts, in addition to time administration and electronic accessories for men.
Finally, Two Harbors Investment Corp. (NYSE:TWO), ended its last trade with -0.10% loss, and closed at $10.20.
Two Harbors Investment Corp., declared that it will release financial results for the quarter ended June 30, 2015, after the market close on August 4, 2015. The company will host a conference call to review the financial results on August 5, 2015, at 9:00 a.m. EDT.
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), residential mortgage loans, mortgage servicing rights, commercial real estate debt and related assets, and other financial assets.
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