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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
09/01/201514:32:00Wyndham® Extra Holidays Invites Travelers To Celebrate Fall...
08/27/201516:27:51Current Report Filing (8-k)
08/26/201514:42:00Wyndham Worldwide Receives MBA Orlando "Corporate Ally of the...
08/26/201509:59:00Upgrade your Outer Banks Vacation Experience with Hatteras PLUS...
08/25/201517:01:58Statement of Changes in Beneficial Ownership (4)
08/24/201513:34:00Court Affirms FTC Authority Over Data-Security Practices
08/20/201510:02:00Nearly 60 Resort Properties Join the RCI® Global Exchange Network...
08/19/201513:00:00Wyndham Worldwide Presents Check for $100,000 to "Birdies Fore...
08/17/201516:11:05Current Report Filing (8-k)
08/17/201509:00:00Wyndham Championship Supports Local Piedmont Triad Community...
08/13/201516:05:00Wyndham Worldwide Corporation Declares Cash Dividend
08/12/201511:00:00Wyndham Worldwide Once Again Earns Top 25 Honor In "Top 100 Companies...
08/05/201516:19:16Automatic Shelf Registration Statement of Securities of Well-known...
08/04/201514:06:00Wyndham® Extra Holidays Offers "California Dreamin'" Travel...
07/30/201519:22:13Statement of Changes in Beneficial Ownership (4)
07/30/201519:22:13Statement of Changes in Beneficial Ownership (4)
07/30/201519:21:45Statement of Changes in Beneficial Ownership (4)
07/30/201519:21:45Statement of Changes in Beneficial Ownership (4)
07/30/201519:21:17Statement of Changes in Beneficial Ownership (4)
07/30/201519:20:48Statement of Changes in Beneficial Ownership (4)

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