Finance

Xerox Falls on Downward Guidance for 2019

Investing.com – Xerox (NYSE:XRX) tumbled in midday trade on Tuesday after it lowered its guidance for 2019 due to ending its Fujifilm relationship.

Investing.com – Xerox (NYSE:XRX) tumbled in midday trade on Tuesday after it lowered its guidance for 2019 due to ending its Fujifilm relationship.

The company said it sees earnings per share of of $3.30 to $3.40 for the year, below the $4.05 consensus.

The company said it sees earnings per share of of $3.30 to $3.40 for the year, below the $4.05 consensus.

The change reflects the company’s decision to sell its 25% stake in Fuji Xerox to Fujifilm, which also ended a lawsuit filed by Fujifilm against Xerox (NYSE:XRX) for walking away from a merger.

The change reflects the company’s decision to sell its 25% stake in Fuji Xerox to Fujifilm, which also ended a lawsuit filed by Fujifilm against Xerox (NYSE:XRX) for walking away from a merger.

Shares of Xerox (NYSE:XRX) were down 2.1% in midday trade.

Shares of Xerox (NYSE:XRX) were down 2.1% in midday trade.