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Today’s Research Reports on Stocks to Watch: Frontier Communications and Xerox

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / May 3, 2018 / Shares of Xerox sank on Wednesday as the company's CEO and several board members stepped down, allowing representatives of activist investors Carl Icahn and Darin Deason to take control of running the printer and copier company. Shares of Frontier Communications saw big gains after reporting a strong first quarter.

RDI Initiates Coverage on:

Frontier Communications Corporation
https://www.rdinvesting.com/report/?ticker=FTR

Xerox Corporation
https://www.rdinvesting.com/report/?ticker=XRX

Frontier Communications Corporation shares were jumping in Wednesday trading, closing the day up 27.36% on nearly 12.4 million shares traded. The company reported first quarter 2018 results ended March 31st yesterday that were better than what analysts had been expecting. Revenue fell 7% YOY to $2.2 billion while adjusted net losses hit $0.58. Wall Street was expecting a loss of $0.91. Company CEO Dan McCarthy remarked, "In the first quarter we achieved growth in consumer revenue, reflecting the early results of the substantial initiatives we have underway across the company. We are also extremely pleased with the continued improvement in subscriber trends in our California, Texas and Florida (CTF) markets, most notably that we have achieved our first quarter of positive FiOS broadband net additions. We also have begun to improve the trends in the Legacy markets. The entire Frontier team remains focused on continuing to enhance the customer experience, achieving further improvements in churn, maintaining strong cash flow, and strengthening the balance sheet. We are very confident that we have the opportunity for sustained growth in consumer, and improvement in commercial."

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Access RDI's Frontier Communications Corporation Research Report at:
https://www.rdinvesting.com/report/?ticker=FTR

Xerox Corporation shares tumbled in Wednesday trading, closing down about 9% on roughly 8 million shares traded. Shares hit a low of $29.20 after it was revealed that the company's CEO Jeff Jacobson is stepping down as well as six board members. This was a victory for activist investors Carl Icahn and Darin Deason who have been on a mission to kill the Fujifilm deal that Xerox had established back in January. According to the investors, the deal would have been the end for Xerox. The two investors won a court ruling last Friday. Xerox stated, "Following the court's decision last week to enjoin Xerox's proposed combination with Fuji Xerox, the Board considered the significant risk and uncertainty of a prolonged litigation, during which the company would be prohibited from negotiating with Fujifilm, as well as the potential instability and business disruption during a proxy contest." Icahn had said, "We believe Friday's decision and this agreement mark a watershed moment for corporate governance generally and for Xerox specifically. With new leadership in place, we believe Xerox will be much better positioned to take advantage of multiple potential value-enhancing opportunities, including restructuring its relationship with Fujifilm, our supposed 'partner' whose conduct over the last year is more unbelievable than what you see on fictional TV shows like House of Cards or Billions."

Access RDI's Xerox Corporation Research Report at:
https://www.rdinvesting.com/report/?ticker=XRX

Our Actionable Research on Frontier Communications Corporation (NASDAQ: FTR) and Xerox Corporation (NYSE: XRX) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com