Key Developments: Xerox Corp (XRX.N)

XRX.N on New York Stock Exchange

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23 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Strike ends at Xerox Corp's French subsidiary-Agence France Presse
Tuesday, 10 Dec 2013 11:10am EST 

Xerox Corp:Repair technicians at Xerox Corp's French subsidiary have called a halt to an eight-day strike over proposals to fit their vehicles with geolocation devices-Agence France Presse.A trade union source told Agence France Presse that the company had assured unions that it had acquired an additional solution which destroys personal data transmitted by GPS trackers.Workers had also been striking over a proposal to introduce bonuses based on individual rather than team performance and because their salaries have been frozen for two years.According to the trade union source, the company has assured them there will be a salary review in 2014 and that the introduction of individual bonuses will be postponed until 2015.  Full Article

Xerox Corp's French subsidiary faces strike action-Agence France Presse
Tuesday, 3 Dec 2013 07:00pm EST 

Xerox Corp:Repair technicians at Xerox Corp's French subsidiary started an indefinite strike on Dec. 2-Agence France Presse.The technicians are striking because of a plan to fit their vehicles with geolocation devices, which they believe will mean they are constantly tracked.Trade unions put the rate of participation in the strike at 76 percent, while the company's management put the figure at 65 percent.A representative of the CFDT union said that the workers were also striking because the management want to introduce bonuses based on individual rather than team performance and because their salaries have been frozen for two years.  Full Article

Xerox Corp Issues FY 2014 EPS Guidance In Line With Analysts' Estimates; Reaffirms FY 2013 EPS Guidance
Tuesday, 12 Nov 2013 07:30am EST 

Xerox Corp announced that for fiscal 2014, it expects GAAP earnings per share (EPS)to be in the range of $0.93 to $0.99 and Adjusted EPS to be $1.10 to $1.16. For fiscal 2013, expectations remain unchanged with GAAP EPS from continuing operations to be in the range of $0.93 to $0.95, and adjusted EPS of $1.08 to $1.10. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.14 for fiscal 2014; EPS of $1.09 for fiscal 2013.  Full Article

Xerox Corp Issues Q4 2013 EPS Guidance; Lowers FY 2013 EPS Guidance
Thursday, 24 Oct 2013 06:54am EDT 

Xerox Corp announced that fourth quarter of 2013, it expects GAAP earnings from continuing operations of $0.24 to $0.26 per share (EPS) and adjusted EPS of $0.28 to $0.30. The Company's guidance includes approximately $0.02 per share of restructuring charges and $0.02 from higher pension settlement expenses. For fiscal 2013, it expects GAAP EPS from continuing operations in the range of $0.93 to $0.95 and adjusted EPS of $1.08 to $1.10. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.12 for fiscal 2013.  Full Article

Xerox Corp Secures U.S. Navy Office Equipment Deal
Wednesday, 23 Oct 2013 10:00am EDT 

Xerox Corp announced that continuing a long-term relationship, the U.S. Navy has awarded Xerox a ten-year contract worth $94 million for the onboard document needs of its vessels worldwide. The Navy will look to Xerox for the installation, training and supplies procurement of the multifunction printers (MFPs) and production devices across its fleet. Eighteen Xerox technicians will be deployed with the ships to provide onboard document management services and support.  Full Article

Xerox Corp Declares Dividend on Common and Preferred Stock
Wednesday, 16 Oct 2013 04:21pm EDT 

Xerox Corp announced that its board of directors declared a quarterly cash dividend of $0.0575 per share on Xerox common stock. The dividend is payable on January 31, 2014 to shareholders of record on December 31, 2013. The board also declared a quarterly cash dividend of $20 per share on Xerox Series A Convertible Perpetual Preferred Stock. The dividend is payable on January 1, 2014 to shareholders of record on December 15, 2013.  Full Article

Wal-Mart Stores Inc, Xerox Corp Blame Each Other For Louisiana Shopping Gone Wild-Reuters
Monday, 14 Oct 2013 08:37pm EDT 

Reuters reported that Wal-Mart Stores Inc and Xerox Corp blamed each other after Louisiana food stamp recipients stripped bare the shelves of some Walmart stores when a computer glitch left their debit cards with no limits. Managers of Walmart stores in the small, north Louisiana towns of Springhill and Mansfield alerted police that throngs of shoppers had flooded into the stores and were buying groceries using electronic benefit cards that contained no credit limits. EBT cards are debit-type cards issued under the state's food stamp program and coded to show the amount of money available for individuals to spend. Food stamps are a federal government subsidy program for low-income people that is administered by the states. When word got out that the EBT cards were showing no limits, card holders rushed to area Walmarts to take advantage. Xerox said on that its systems that process EBT transactions suffered an outage stemming from routine testing of backup generators that malfunctioned. Louisiana was one of 17 states affected by the outage. Xerox corporate spokesman Bill McKee provided a written company statement saying that Xerox has a documented process for retailers like Wal-Mart to follow in response to EBT outages. Louisiana officials said they had no intention of being left holding the bag. The outage was the result of failures by our contractor, Xerox, said Trey Williams, a spokesman for the Louisiana Department of Children and Family Services.  Full Article

Xerox Corp Says SEC Probing Accounting Practices At Affiliated Computer Services Unit-Reuters
Tuesday, 8 Oct 2013 10:57am EDT 

Reuters reported that Xerox Corp said the U.S. Securities and Exchange Commission was investigating some accounting practices at Affiliated Computer Services. The investigation is focused on whether revenue from some ACS equipment resale deals should have been presented on a net rather than gross basis, primarily before the acquisition, Xerox said in a regulatory filing.  Full Article

Sequana SA's Antalis Finalizes Acquisition of Xerox Corp's Western European Paper Business
Friday, 27 Sep 2013 01:30am EDT 

Sequana SA announced that its subsidiary Antalis has finalized the acquisition of Xerox Corp's Western European paper business. The transaction is expected to close at the end of October 2013. Financial terms were not disclosed.  Full Article

Xerox Corp Secures Five Year Tolling And Customer Service Contract With Texas Department Of Transportation
Monday, 23 Sep 2013 08:00am EDT 

The Texas Department of Transportation (TxDOT) announced that it has selected Xerox Corp to provide customer service and toll operations to the state of Texas over the next five years in a contract worth approximately $100 million. Xerox will establish a new customer service operation in Austin, Texas to process a growing base of more than 8 million monthly toll transactions while managing over 750,000 accounts. Customer service center operations include transaction processing, license plate image review, invoicing, collections, transponder sales and management. Xerox will also assume responsibility for the physical maintenance of the toll plaza buildings and continuing the Courtesy Patrol on the TxDOT toll roads in Austin to provide roadway assistance.  Full Article

Nevada to move online healthcare enrollment to federal site

- Nevada's health insurance exchange board on Tuesday voted to transfer control over its online program from its vendor, Xerox, to the federal government's enrollment system.

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