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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
08/23/201614:00:00Wyndham Worldwide Recognized as a Top Company for Working Families...
08/22/201618:01:11Statement of Changes in Beneficial Ownership (4)
08/15/201621:40:00Some International Companies Cautiously Return to Iraq
08/15/201611:30:00Wyndham Championship Officially Kicks-Off; Tens Of Thousands...
08/11/201616:05:00Wyndham Worldwide Corporation Declares Cash Dividend
08/11/201611:40:00Wyndham Worldwide Celebrates 10 Year Anniversary by Giving Back
08/08/201614:00:00Wyndham Vacation Ownership Named Among Healthiest Employers In...
08/01/201618:05:38Statement of Changes in Beneficial Ownership (4)
08/01/201618:04:19Statement of Changes in Beneficial Ownership (4)
08/01/201618:03:25Statement of Changes in Beneficial Ownership (4)
08/01/201618:02:03Statement of Changes in Beneficial Ownership (4)
08/01/201618:00:49Statement of Changes in Beneficial Ownership (4)
08/01/201617:59:54Statement of Changes in Beneficial Ownership (4)
07/27/201616:47:38Quarterly Report (10-q)
07/27/201607:01:41Current Report Filing (8-k)
07/27/201606:30:00Wyndham Worldwide Reports Second Quarter 2016 Results
07/20/201616:05:00Wyndham Worldwide Completes $375 Million Term Securitization
07/18/201612:30:00Expert Advice Busts Common Myths Surrounding Vacation Rental...
07/13/201611:56:00Cook up a Summer Getaway with Travel Deals from Wyndham Vacation...
07/12/201614:00:00Make The Most Out Of Your Vacation Time This Summer With Wyndham®...

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