Boston, MA 08/12/2014 (wallstreetpr) – Xerox Corp (NYSE:XRX), services and technology company whose shares 1.29% to $13.36 on Monday but remained up 2.77% from last week, said it would reduce its workforce 468 in Houston following changes in businesses conditions for one of their clients. The company’s VP of corporate communications, Kevin Lightfoot, confirmed the layoffs but such were adjustments that arise because of changing business demand. The news of the layoffs followed reports that an insider at Xerox Corp (NYSE:XRX) in the form of Robert K. Zapfel, an EVP, purchased as many as 40,000 shares of the company in an open market transaction for $12.94 apiece last week.
American International Group Inc (NYSE:AIG), a global insurance company whose shares gained 0.86% to settle at $52.90 in the last session, further stated why it is interested in Ageas Protech, which is life insurance unit of Ageas Group. According to AIG’s CEO of global consumer insurance, Kevin Hogan, the move is attractive for the company because it means expansion into the U.K. where life protection is an attractive market for them.
Atmel Corporation (NASDAQ:ATML), which reported 2Q earnings that matched estimates and revenue that rose from the prior year, ended up at $8.26 in the last session which saw it gain 0.85%. However, even with yesterday’s gain, the stock of ATML remained down almost 4% from last week. The company guided revenue improvement in 3Q. It also expects gross margin to increase 1.7% to 47% in the current quarter (3Q).
Halliburton Company (NYSE:HAL), whose shares rose 1.62% to $69.42 in the last session, is the most popular stock in the portfolio of billionaire investor Hugh Sloane. Through his investment vehicle Sloane Robinson LLP, the investor owns 681,000 shares of HAL, according to the most recent filings. The position at Halliburton Company (NYSE:HAL) is put at more than 30% of total equity portfolio at Sloane Robinson. HAL met earnings estimates but beat on revenue in its most recent quarterly report.