Orlando, FL -- (SBWIRE) -- 08/29/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Lloyds Banking Group PLC (ADR)(NYSE:LYG), Xerox Corporation (NYSE:XRX).
Lloyds Banking Group PLC (ADR)(NYSE:LYG) shares increased 2.93% to $4.57. Lloyds Banking Group on August 21 said it has sold German life insurer Heidelberger Leben to private equity group Cinven and reinsurer Hannover Re for around 300 million euros ($400 million), raising hopes that the state-rescured bank is moving closer to restoring its dividend.
The deal, which will boost Lloyds' core capital by 400 million pounds, and the separate sale for 254 million pounds of a portfolio of leveraged loans, helps strengthen the bank's balance sheet and could accelerate government plans to start selling down its 39 percent stake, analysts said.
Additionally, the company on August 1 said that second-quarter profit more than doubled, as the partly nationalized British bank took another step toward privatization. The company said profit in the three months ended June 30 rose to £1.4 billion ($2.1 billion) from £547 million in the period a year earlier, while revenue increased slightly, to £4.8 billion.
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Xerox Corporation (NYSE:XRX) shares jumped 2.59% to $9.92. Xerox scientist Mandakini Kanungo is looking forward to being with 81 of the nation's brightest young engineers and scientists at the National Academy of Engineering's (NAE) 18th annual U.S. Frontiers of Engineering symposium, an elite meeting of the nation's most promising young engineers.
Additionally, the company on August 13 announced its acquisition of CPAS Systems Inc., a Toronto-based company providing pension administration software to the private and public sectors. CPAS software simplifies administration and record keeping for defined benefit, defined contribution and hybrid retirement savings plans as well as health, welfare and group life insurance premiums.
Moreover, the company on July 25 reported a second quarter profit of $271 million, or 21 cents a share, down from $309 million, or 22 cents, a year earlier. Adjusted earnings from continuing operations rose to 27 cents from 26 cents. Revenue from continuing operations edged up 0.6% to $5.4 billion. The discontinued operations generated $134 million in revenue. Analysts expected revenue of $5.5 billion.
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