Xerox Corp. (XRX) Ratings Placed on Review for Downgrade by Moody's Amid Separation Plans
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Xerox to split into two companies, Icahn to get board seats on one
January 29, 2016 6:57 AM ESTBy Kshitiz Goliya and Liana B. Baker
(Reuters) - Xerox Corp (NYSE: XRX) will split into two companies, one holding its legacy printer operations and the other its business process outsourcing unit, it said on Friday, in a bid to be more nimble after years of trying to integrate the businesses.
Activist investor Carl Icahn, who first revealed a stake in Xerox in November, will get three board seats on the outsourcing company. He tweeted on Friday that "the separation will greatly enhance value for Xerox Corp shareholders."
Xerox shares rose nearly 6 percent to... More
Xerox Corp. (XRX) , Icahn Enter Agreement on Business Process Outsourcing Governance
January 29, 2016 6:47 AM ESTXerox (NYSE: XRX) and Carl C. Icahn announced that they have entered into an agreement related to the governance of the Business Process Outsourcing (BPO) company... More
Xerox Corp. (XRX) Tops Q4 EPS by 4c; Will Separate into Two, Publicly-Traded Companies
January 29, 2016 6:46 AM ESTXerox Corp. (NYSE: XRX) reported Q4 EPS of $0.32, $0.04 better than the analyst estimate of $0.28. Revenue for the quarter came in at $4.65 billion versus the consensus estimate of $4.73 billion.
Full Year 2016 Guidance
For full-year 2016, Xerox expects GAAP earnings of $0.66 to $0.76 per share.
In 2016 the company plans to revise its calculation of adjusted EPS to exclude restructuring, certain retirement related costs as well as separation and related costs in addition to the amortization of intangibles. Based on this revised calculation, full-year 2016 adjusted EPS guidance is expected to be $1.10 to $1.20 per share. On a... More
