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Wyndham, Former Parent Reach Deal With IRS; To Post Gain

DOW JONES NEWSWIRES Wyndham Worldwide Corp. (WYN) said Wednesday it and its former parent have reached a settlement with the Internal Revenue Service about a long-running dispute involving a deferred tax liability. The move will result in a roughly $40 million gain for the lodging company in the third quarter. Wyndham expects to pay about $145 million in the period to resolve issues involving former parent Cendant's 2003 through 2006 federal tax returns. Cendant broke up four years ago, with Wyndham being one of the offshoots. Wyndham had set aside $185 million for the IRS matter. The company--which operates the Ramada, Howard Johnson and Days Inn hotel chains--said in April its first-quarter earnings rose 11% on fewer charges as it reported stronger timeshare revenue and got a boost from favorable exchange rates. Second-quarter results are due on July 28. Shares closed at $21.29 Tuesday and weren't active premarket. The stock has risen 5.6% this year. -By Jodi Xu, Dow Jones Newswires; 212-416-3037; jodi.xu@dowjones.com;

Stock News for Wyndham Worldwide Corp (WYN)
DateTimeHeadline
05/19/201608:30:00Should Investors Make Room for These Stocks? - Expedia, Wyndham...
05/18/201616:13:00The Registry Collection® Adds Latin America's Only Overwater...
05/17/201610:35:00Doing Less Gets You More When It Comes to Owning a Vacation Home...
05/12/201609:00:00Wyndham Rewards Launches Member Levels, Expands Award-Winning...
05/11/201617:01:31Current Report Filing (8-k)
05/11/201614:00:00Wyndham® Extra Holidays Announces SummerFest Fun Travel Sale
05/10/201616:05:00Wyndham Worldwide Corporation Declares Cash Dividend
05/09/201616:40:00Wyndham Vacation Ownership Wins Ace Innovator Award For Ovation...
05/05/201612:00:00Nickelodeon Hotels & Resorts Punta Cana Joins RCI, Offering Family...
05/04/201606:15:00Out With the Old: Super 8 Artwork Comes "Off the Wall" at FREE...
05/04/201606:15:00Out With the Old: Super 8 Artwork Comes "Off the Wall" at FREE...
05/03/201609:00:00RCI and The Registry Collection® Program Members Can Experience...
05/02/201612:00:00Wyndham Vacation Ownership Celebrates 50 Years of Vacations
05/02/201609:00:00RCI Becomes First Timeshare Exchange Company to Offer Travel...
05/01/201600:00:00The First Group Celebrates Wyndham Dubai Marina Grand Opening
05/01/201600:00:00The First Group Celebrates Wyndham Dubai Marina Grand Opening
04/29/201617:06:51Statement of Changes in Beneficial Ownership (4)
04/29/201617:06:22Statement of Changes in Beneficial Ownership (4)
04/29/201617:06:22Statement of Changes in Beneficial Ownership (4)
04/29/201617:05:58Statement of Changes in Beneficial Ownership (4)

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