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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
03/26/201516:05:00Wyndham Worldwide Announces a New Unsecured Credit Facility and...
03/24/201513:00:00It's Lights Out at Wyndham Worldwide for Annual Earth Hour Event
03/24/201509:00:00Wyndham Worldwide to Report First Quarter 2015 Earnings on April...
03/17/201516:47:43Statement of Changes in Beneficial Ownership (4)
03/17/201516:47:14Statement of Changes in Beneficial Ownership (4)
03/12/201509:00:00Wyndham Worldwide Named as a 2015 World's Most Ethical Company...
03/10/201517:12:32Statement of Changes in Beneficial Ownership (4)
03/10/201517:12:32Statement of Changes in Beneficial Ownership (4)
03/01/201513:37:12Hilton, Wyndham And Marriott Represent Great Opportunities In...
02/26/201516:45:00Wyndham Worldwide's CFO Tom Conforti to Participate in a Fireside...
02/26/201515:00:00Wyndham Worldwide Corporation Declares Cash Dividend
02/20/201518:37:54Statement of Changes in Beneficial Ownership (4)
02/17/201514:53:14Amended Statement of Ownership (sc 13g/a)
02/17/201511:34:00Wyndham® Extra Holidays Announces Wyndham Park City And Wyndham...
02/13/201510:43:01Statement of Ownership (sc 13g)
02/12/201511:06:18Schedule 13g<br /> (sc 13g/a)
02/10/201515:21:30Amended Statement of Ownership (sc 13g/a)
02/10/201507:03:30Current Report Filing (8-k)
02/10/201506:30:00Wyndham Worldwide Reports Fourth Quarter and Full Year 2014 Earnings
02/09/201516:34:41Annual Statement of Changes in Beneficial Ownership (5)

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