News: Xerox Corp (XRX.N)

XRX.N on New York Stock Exchange

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26 Dec 2014
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Fri, Dec 19 2014

Tech stocks lead European shares higher on M&A boost

* FTSEurofirst 300 up 0.6 pct after Thursday's 3 pct rally

Tech stocks lead European shares higher on M&A boost

PARIS, Dec 19 - European stocks climbed early on Friday, with French information technology services firm Atos SE leading a rally in tech stocks after unveiling a deal to buy Xerox Corp's IT outsourcing arm.

Xerox to sell IT outsourcing arm to France's Atos for $1.05 billion

- Xerox Corp said it agreed to sell its information technology outsourcing arm to French IT services firm Atos SE for $1.05 billion, sending its shares up almost 4 percent in late trade on Thursday.

CORRECTED-Xerox to sell IT outsourcing arm to France's Atos for $1.05 bln

(Corrects second paragraph to remove ranking of IT outsourcing business within Xerox, adds dropped word "ended"; in last paragraph adds dropped word "adjusted")

BRIEF-Xerox sees Q4 adjusted earnings per share of $0.28 - $0.30

* Xerox says for q4 2014, Xerox expects GAAP earnings per share from continuing operations of $0.24 - $0.26

BRIEF-Xerox to sell information technology outsourcing business to Atos for $1.05 bln

* Xerox to sell information technology outsourcing business to Atos for $1.05 billion

Xerox to sell IT outsourcing arm to France's Atos for $1.05 billion

- Xerox Corp said it agreed to sell its IT outsourcing (ITO) arm to French IT services firm Atos SE for $1.05 billion.

Xerox to sell IT outsourcing arm to France's Atos for $1.05 bln

Dec 18 - Xerox Corp said it agreed to sell its IT outsourcing (ITO) arm to French IT services firm Atos SE for $1.05 billion.

Fitch Affirms Xerox's IDR at 'BBB'; Outlook Stable

(The following statement was released by the rating agency) CHICAGO, December 03 (Fitch) Fitch Ratings has affirmed the ratings for Xerox Corp. (Xerox) and its wholly-owned subsidiary, Affiliated Computer Services, Inc. (ACS), including the long-term Issuer Default Rating (IDR) at 'BBB'. The Rating Outlook is Stable. Fitch's actions affect $9.8 billion of debt, including Xerox's undrawn $2 billion revolving credit facility (RCF). KEY RATING DRIVERS Xerox's ratings and Stable Outlook reflect:

Weak services growth weighs on Xerox revenue

- Xerox Corp reported a 2 percent fall in third-quarter revenue due to tepid growth in its services business and slowing demand in the printing business.

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