Today’s Research Reports on Trending Tickers: The Boeing and Xerox
NEW YORK, NY / ACCESSWIRE / February 1, 2018 / Shares of Boeing soared to a new high on positive earnings and a new U.S. defense contract. Shares of Xerox also saw a new high after it was announced that Fujifilm Holdings will be taking over the company.
RDI Initiates Coverage on:
The Boeing Company
https://rdinvesting.com/report/?ticker=BA
Xerox Corporation
https://rdinvesting.com/report/?ticker=XRX
The Boeing Company shares closed up 4.93% on about 11.4 million shares traded yesterday. The stock soared to a new 52-week high of $360.97 during intra-day trading after reporting earnings results yesterday. The airplane maker reported fourth quarter results that topped analysts' expectations and even gave an optimistic outlook for profit and revenue in 2018. Adjusted fourth quarter EPS was $3.06. Analysts had been waiting for EPS of $2.9. Revenue was $25.37 billion and also ahead of expectations. For 2018, Boeing is waiting for adjusted EPS of $13.80 and $14 with revenue of $96 billion to $98 billion. Analysts are waiting for EPS of $13.38 a share and revenue of $93.6 billion. Last year the company delivered a record 763 airliners and predicts this year the number will be 810 and 815 planes. It was also revealed by the Pentagon this week that the company has been awarded a $6.56 billion U.S. defense contract for development and sustainment of an enlarged ground-based midcourse anti-ballistic missile defense system. "We're honored to support the U.S. military in protecting the homeland," Boeing Defense tweeted. Shares have more than doubled in the last year.
Access RDI's The Boeing Company Research Report at:
https://rdinvesting.com/report/?ticker=BA
Xerox Corporation shares closed up 4.44% on nearly 18 million shares traded on Wednesday. Shares hit a new high of $37.42 during intra-day trading after it was reported that Fujifilm Holdings of Japan will be taking over the company in a $6.1 billion deal. The deal will combine the two companies into their existing joint venture, Fuji Xerox, which goes back over 50 years. Fujifilm now owns 75% of the joint venture. Fuji Xerox will buy back that stake from Fujifilm for around $6.1 billion, using bank debt and Fuji Film will buy 50.1 percent of new Xerox shares. Both companies said the deal is expected to complete in July or August. Fuji Xerox will become a subsidiary of Fuji film and will be led by Xerox CEO Jeff Jacobson and its chairman will be Fujifilm CEO Shigetaka Komori. "This has been a speedy decision, but I believe it's a creative one," Fujifilm CEO Komori remarked. "The new structure will leverage the strengths of our three companies." Xerox's CEO said the combined company would gain an increased edge in new technologies, along with higher revenues and cost synergies, while Xerox shareholders would also benefit from a $2.5 billion special cash dividend resulting from the deal. Xerox CEO Jeff Jacobson said, "This transaction...offers substantial upside for shareholders of the combined companies, including current shareholders of Xerox and Fujifilm Holdings, who will own shares in a more competitive company that has enhanced opportunities for long-term growth and margin expansion".
Access RDI's Xerox Corporation Research Report at:
https://rdinvesting.com/report/?ticker=XRX
Our Actionable Research on The Boeing Company (NYSE: BA) and Xerox Corporation (NYSE: XRX) can be downloaded free of charge at Research Driven Investing.
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