Spinoff Report
NUAN: Earnings Beat Expectations, Buy Ahead of Oct 1 Spinoff
In a strong final earnings release prior to the October 1, 2019 Spinoff of its Auto business, Nuance Communications, Inc. (NUAN) beat expectations on all measures. The company also took the opportunity to update shareholders on the Spinoff progress, including the name and board of the new business. We're positive on both the nimble and focused core healthcare and enterprise Parent NUAN and the high-margin and high-growth Spinoff.

  • Existing Investors Recommended to Hold / New Investors Recommended to Buy NUAN at Current Levels
  • Q3FY19 Earnings (Last Before Spinoff) Beat Expectations / Management Raised EPS & Operating Margin Guidance
  • Auto Spinoff Named Cerence, Inc. / Board Members Announced & Include Former CEO of Vodafone Group Plc (VOD LN)
  • Further Positives Include Share Repurchases (Supporting EPS) & Successful Sale of Non-Core SRS Business
  • Spinoff is On Track for October 1, 2019 Completion / NUAN is a Current Spinoff Model Portfolio Holding
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