On Monday, Shares of Xerox Corporation (NYSE:XRX), lost -1.36% to $10.17.
For the sixth successive year, industry research firm Gartner, Inc. placed Xerox as a Leader in its annual Magic Quadrant for Finance and Accounting Business Process Outsourcing report1.
Gartner’s Magic Quadrant offers visual snapshots of a market’s direction, maturity and participants and evaluates companies on completeness of vision and ability to execute.
Quadrant leaders “are performing well recently, both with a clear vision of market direction and by actively building competencies to sustain their Leaders position in the market. The comprehensive F&A BPO players in this quadrant generally share superior market understanding, and they have a global client base, an extensive network of well-distributed and highly populated global delivery centers catering to multiple languages, a good balance of transactional and high-end F&A BPO delivery, and innovative well-communicated and marketed sales offerings. They have a superior understanding of client needs and of current market conditions, and they are actively building competencies to sustain their leadership position in the F&A BPO market across multiple regions,” according to the report.
For nearly 20 years, Xerox has managed core end-to-end process areas of finance, accounting and procurement. With about 7,400 finance and accounting employees in 19 F&A BPO centers in 10 countries, Xerox supports more than 200 clients across multiple industries, counting manufacturing, retail, banking, healthcare and government.
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 American Eagle Outfitters, Inc. (NYSE:AEO), inclined 1.61% to $17.02, during its last trading session.
U.S. Mint sales of American Eagle gold coins fell 40 percent in August from July’s highest level in more than two years as concern about a slowing Chinese economy lifted bullion prices above a 5-1/2-year low, government data showed on Monday, according to Reuters.
American Eagle gold coin sales fell to 101,500 ounces, but that was still four times the sales in August 2014.
Sales of American Eagle silver coins also fell in August, after prices dropped to a six-year low that fueled demand in July, forcing the Mint to halt sales for nearly two weeks after running out of stock. Sales resumed at the end of July but have been under weekly allocations of roughly 1 million ounces as the Mint ramped up supplies. Reuters Reports
American Eagle silver coin sales in August fell 10.7 percent from July to 4.93 million ounces, but this was more than double the 2.1 million sold in August 2014, Mint data showed. Reuters added.
American Eagle Outfitters, Inc. operates as a retailer of apparel and accessories in the United States and internationally. The company’s stores offers denims, pants, shorts, sweaters, fleece, outerwear, graphic T-shirts, footwear, and accessories for 15 to 25 year old men and women under the American Eagle Outfitters brand name; and intimates and personal care products for women the aerie brand name.
Finally, BioScrip, Inc. (NASDAQ:BIOS), ended its last trade with -1.22% loss, and closed at $2.43.
BioScrip offered an update on the Company’s plan to enhance shareholder value, improve financial flexibility and position BioScrip as a pure play infusion services company focused on high-growth services. As formerly declared, the Company anticipates to realize $35 million – $40 million in annualized net cost savings over the next 12 months as part of its Financial Improvement Plan.
The Company offered the following update on its cost saving and financial improvement initiatives to create value:
- BioScrip has accomplished the formerly declared sale of its non-core PBM business to ProCare Pharmacy Benefit Manager Inc., a privately held pharmacy benefit manager and part of the ProCare Rx companies, for $25 million in cash. The PBM activities represented about $66 million of annual revenue. The net proceeds were used to pay down debt.
- BioScrip’s workforce reduction is on track and will be substantially complete by the end of the third quarter. As formerly declared, the reductions are predictable to generate $19 million in total savings. The reductions are in specific areas, counting corporate infrastructure and are not predictable to influence BioScrip’s ability to provide quality care and service to patients.
- Supply chain related activities are being negotiated and are predictable to generate $3 million in annual savings by the startning of 2016, contributing to operating improvement.
- Corporate and field operating improvement programs have been initiated and are estimated to deliver cost savings of $10 million annually and contribute to operating improvements starting in January 2016.
BioScrip, Inc. provides home infusion and other home care services, and pharmacy benefit administration (PBM) services in the United States. It operates in two segments, Infusion Services and PBM Services. The Infusion Services segment offers home infusion therapy and respiratory therapy services; and durable medical equipment, products, and services.
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