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Xerox Corporation

5/21/2013, 2:42 PM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Tuesday, April 23, 10:37 AM Rivals Lexmark (LXK +13%) and Xerox (XRX -0.7%) are reacting very differently to their Q1 reports. Lexmark, which had 22.3% of its float shorted as of March 28, is soaring following a Q1 beat and better-than-feared top-line guidance: the company expects Q2 revenue to drop 6%-8% Y/Y, a little above an 8.1% consensus. EPS is expected to come in at $0.80-$0.90 vs. an $0.89 consensus. Gross margin rose 40 bps Y/Y in Q1 to 39.8%. Xerox is down slightly following mixed results and Q2 EPS guidance of $0.23-$0.25, below a $0.26 consensus. 2013 guidance has been reiterated. H-P (HPQ +0.2%), a rival to both firms, is near breakeven on an up day for tech. (PRs: I, II) Comment! [Tech, Earnings, On the Move]
Tuesday, April 23, 6:55 AM Xerox (XRX): Q1 EPS of $0.27 beats by $0.03. Revenue of $5.4B misses by $0.1B. (PR) Comment! [Earnings, Breaking News, Consumer]
Tuesday, April 23, 12:05 AM Notable earnings before Tuesday’s open: ACI, AKS, AOS, APD, ARMH, CIT, CNC, COH, DAL, DD, DFS, EAT, ECA, FMER, FRX, GCI, GNTX, IDXX, IIVI, IR, IRWD, ITW, JCI, JNS, LCC, LECO, LMT, LXK, MOLX, PCAR, PCH, PII, PMT, PNR, R, RAI, RF, RSH, SNV, ST, TRV, UTX, WAT, XRX 1 Comment [Earnings]
Monday, April 22, 5:30 PM Notable earnings before Tuesday’s open: ACI, AKS, AOS, APD, ARMH, CIT, CNC, COH, DAL, DD, DFS, EAT, ECA, FMER, FRX, GCI, GNTX, IDXX, IIVI, IR, IRWD, ITW, JCI, JNS, LCC, LECO, LMT, LXK, MOLX, PCAR, PCH, PII, PMT, PNR, R, RAI, RF, RSH, SNV, ST, TRV, UTX, WAT, XRX Comment! [Earnings]
Thursday, March 28, 5:22 PM Xerox (XRX) has hired ADT CFO Kathryn Mikells to be its new CFO, effective May 2. Her predecessor, Luca Maestri, recently left for Apple. ADT says it has begun a search for a replacement; Mikells will stay with the company through its May 1 FQ2 report. (Xerox PR) (ADT PR) 4 Comments [Tech, Consumer]
Wednesday, March 27, 10:19 AM Defense contract award winners from Tuesday night's DOD release: Philips Electronics' (PHG -2.3%) Medical Systems subsidiary gets $77.2M option; Xerox (XRX -0.4%) gets $14.9M extension of existing deal; Lockheed Martin wins two contracts totaling $47.8M; Nothrop Grumman (NOC -0.7%) gets $12.6M to refurbish missile fuses. Comment!
Wednesday, February 20, 6:43 PM Xerox Corporation (XRX) declares $0.0575/share quarterly dividend, 35% increase from prior dividend of $0.0425. Forward yield 2.93%. For shareholders of record Mar. 28. Payable Apr. 30. Ex-div date Mar. 26. (PR) Comment! [Dividends]
Tuesday, January 29, 10:15 AM Lexmark (LXK -7.8%) opens with a thud after badly missing Q4 EPS estimates. Also hurting is Q1 guidance for an 11%-13% revenue drop and EPS of $0.80-$0.90, largely below a consensus for an 11.3% drop and EPS of $1.01. Q4 gross margin was 34.1%, -160 bps Q/Q and -330 bps Y/Y. Hardware revenue -15% Y/Y, supplies -10%. Software sales +25%, but were only 9% of total. Shares had rallied strongly since July, fueled by enthusiasm over Lexmark's restructuring efforts. Rivals are off: HPQ -1.8%. XRX -1.5%. (PR) (slides) Comment! [Tech, On the Move, Earnings]
Thursday, January 24, 7:01 AM Xerox (XRX): Q4 EPS of $0.3 beats by $0.01. Revenue of $5.9B (-1% Y/Y) beats by $0.02B. (PR) Comment! [Earnings, Breaking News, Tech]
Thursday, January 24, 12:05 AM Notable earnings before Thursday’s open: ABC, ALK, ARG, AVT, BAX, BMY, BPOP, CELG, CY, DOV, EQT, ESI, ETN, FCS, GWW, JNS, JVA, KCG, KEY, LMT, LUV, MKC, MMM, MWW, NMM, NOK, ORI, PCP, QSII, RTN, RYN, SWK, TZOO, UAL, UNP, XRX Comment! [Earnings]
Wednesday, January 23, 5:30 PM Notable earnings before Thursday’s open: ABC, ALK, ARG, AVT, BAX, BMY, BPOP, CELG, CY, DOV, EQT, ESI, ETN, FCS, GWW, JNS, JVA, KCG, KEY, LMT, LUV, MKC, MMM, MWW, NMM, NOK, ORI, PCP, QSII, RTN, RYN, SWK, TZOO, UAL, UNP, XRX Comment! [Earnings]
Friday, January 11, 9:15 AM Xerox (XRX) CFO Luca Maestri will be leaving the company on Feb. 28 to become Apple's (AAPL) corporate controller. Xerox, which is reaffirming its Q4 guidance, says a search has begun for a replacement. Apple's former corporate controller, Betsy Rafael, recently retired. 1 Comment [Tech]
Tuesday, November 13, 2012, 7:53 AM Xerox (XRX) cuts guidance again, expecting Q4 EPS of $0.28-$0.30 vs. consensus of $0.32. FY2013 EPS of $1.09-$1.15 is expected, with flat to +2% revenue growth. The dividend is hiked 35% to an annual $0.23 and the stock repurchase plan is bumped by $1B. CEO Burns says the global economy has weakened further since last month's warning, particularly in the U.S., particularly at the government level. Shares -1.3% premarket. (PR) Comment! [Tech, On the Move]
Tuesday, October 23, 2012, 10:40 AM Lexmark (LXK +4.2%) is surging after beating estimates with the help of cost cuts, $120M in stock buybacks, and a 260 bps Y/Y improvement in gross margin to 39.9%. Q4 guidance is nothing to brag about - revenue is expected to fall 10%-12%, in-line with an 11.5% consensus, and EPS guidance of $0.82-$0.92 is below a $1.03 consensus - but given how much expectations have fallen for printing demand, the Street can live with that. Rival Xerox (XRX -7.7%) is tumbling following its revenue miss. Comment! [Tech, Earnings, On the Move]
Tuesday, October 23, 2012, 8:44 AM More on Xerox (XRX -5.3%) Q3: net profit -12% to $282M, hurt by strong dollar, tight government spending and Europe's economic woes. Revenue from service, outsourcing and rentals +1% to $3.73B, from technology -12% to $1.54B. Again lowers EPS guidance, to $1.07-$1.09 from previous estimate of $1.07-$1.12. Expects Q4 restructuring charge of $50M-$100M, which is excluded from guidance. Comment! [Earnings, Tech, On the Move]
Tuesday, October 23, 2012, 7:00 AM Xerox (XRX): Q3 EPS of $0.25 in-line. Revenue of $5.4B (-3% Y/Y) misses by $110M. (PR) Comment! [Earnings]