Xerox Holdings Corporation (NASDAQ:XRX) announced today that its board of directors declared a quarterly dividend of $0.25 per share on Xerox Holdings Corporation Common Stock. The dividend is payable on January 31, 2025, to shareholders of record on December 31, 2024. The board also declared a quarterly dividend of $20.00 per share on the outstanding Xerox Holdings Series A Convertible Perpetual Preferred Stock. The dividend is payable on January 2, 2025, to shareholders of record on December 16, 2024. About Xerox Holdings Corporation (NASDAQ:XRX) For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and productio

Reinvention drives increased profitability despite a challenging quarter for equipment sales; pending acquisition of ITsavvy to improve revenue mix from higher growth businesses Financial Summary Q3 2024 Revenue of $1.53 billion, down 7.5 percent, or 7.3 percent in constant currency. GAAP net (loss) of $(1.2) billion, or $(9.71) per share, a decrease of $1.3 billion or $9.99 per share, year-over-year, respectively. This quarter includes an after-tax non-cash goodwill impairment charge of $1.0 billion, or $8.16 per share and a charge to tax expense related to the establishment of a valuation allowance of $161 million, or $1.29 per share. Adjusted net income of $34 million, or $0.25

Xerox Holdings Corporation (NASDAQ:XRX) will host a live audio webcast at 8 a.m. ET on Tuesday, October 29th, to discuss the company's 2024 third-quarter results. A news release containing this information will be issued earlier that day at 6:30 a.m. ET. WHEN: 8 a.m. ET, Tuesday, October 29th, 2024 WHAT: Review of Xerox's 2024 third-quarter results WHO: Steve Bandrowczak, chief executive officer, Xerox John Bruno, president and chief operating officer, Xerox Xavier Heiss, chief financial officer, Xerox AUDIO WEBCAST: https://edge.media-server.com/mmc/p/294fcz7d About Xerox Holdings Corporation (NASDAQ:XRX) For more than 100 years, Xerox has continually redefined th

Xerox Holdings Corporation (NASDAQ:XRX) today announced it has agreed to acquire ITsavvy, an Oak Brook, Illinois-based provider of integrated IT products and associated services, for $400 million consisting of a $180 million cash payment and secured promissory notes totaling $220 million, subject to certain customary pre- and post-closing adjustments and escrow arrangements. The transaction is expected to close during the fourth quarter of 2024 and remains subject to merger clearance control. ITsavvy is a portfolio company of GenNx360 Capital Partners, a New York-based private equity firm. "As part of our Reinvention we have created a greater organizational focus on our emerging IT Service

Company chief accounting officer Mirlanda Gecaj appointed as successor Xerox today announced that after over 30 years with the company, Xavier Heiss has decided to retire, effective Feb. 1, 2025. Heiss has served as Chief Financial Officer since 2021. "Xavier has been a driving force behind many of the transformative initiatives that have reshaped our company, leading us through critical phases of Reinvention and setting us on a path of sustainable growth," said Steve Bandrowczak, chief executive officer at Xerox. "I want to express my deepest gratitude to Xavier for his exceptional service to Xerox over the past three decades, and I wish him well in retirement next year." Mirlanda Gecaj

Today Xerox announced the Xerox® PrimeLink® C9200 Series color printers at the PRINTING United Expo 2024 in Las Vegas. This entry-level production press combines Xerox high-end production capabilities, a space-saving design, and automated production workflows to help clients and print service providers deliver high-quality output on time and on budget. The Xerox PrimeLink C9265/C9275/C9281 include features that enable more flexibility and customization, adapting to the needs of both production environments and offices. The Color Press series uses a new toner formulation similar to the Xerox® Iridesse® Production Press and a completely redesigned imaging system to provide best-in-class perf

Collaboration aims to deliver advanced digital embellishment capabilities to clients Xerox Holdings Corporation (NASDAQ:XRX) and Taktiful Software Solutions today announced the intent to form a new strategic partnership to extend their presence in the digital embellishment market. This new alliance will build upon a foundation of successful collaboration, leveraging Xerox industry-leading digital printing technology and expansive market reach alongside Taktiful's AI-powered digital embellishment solutions and focus on client-specific empowerment. It will mark a significant step forward in delivering extraordinary production print enhancement capabilities and maximizing business developmen

Xerox announced today that it will present its advanced end-to-end production ecosystem, from pre-press to on-press to finishing, showcasing the latest innovations at PRINTING United Expo 2024, booth C2614 from September 10-12 in Las Vegas. Attendees can explore the company's extensive digital print solutions, including the Xerox® Iridesse® Production Press, Xerox® Versant® 280 Production Press, and the newest production press that highlight its legacy of industry-leading production print technology. "At Xerox, our ongoing commitment to the production print industry drives us to continually invest in innovative solutions that empower our clients to deliver superior quality work with enh

Xerox Holdings Corporation (NASDAQ:XRX) announced today the company will participate at the Citi 2024 Global TMT Conference on September 5th. Citi 2024 Global TMT Conference WHEN: 3:50 p.m. EDT, Thursday, September 5, 2024 WHAT: Citi 2024 Global TMT Conference WHO: Steve Bandrowczak, chief executive officer John Bruno, president and chief operating officer Xavier Heiss, chief financial officer David Beckel, vice president and head of investor relations WHERE: Link to live webcast and replay available at https://investors.xerox.com/ About Xerox Holdings Corporation (NASDAQ:XRX) For more than 100 years,

WALLDORF, Germany, Aug. 7, 2024 /PRNewswire/ -- SAP SE (NYSE:SAP) today announced Xerox Holdings Corp. (NASDAQ:XRX) has chosen multiple SAP solutions to transform its enterprise architecture as part of its multi-year Reinvention. Xerox's Reinvention involves aligning its resources to improve and stabilize its core print businesses, increase productivity and efficiency, and focus on its emerging digital services and IT services capabilities to improve business outcomes for its clients. Moving to the Cloud to Achieve a Clean Core In choosing the RISE with SAP solution to move to

Xerox Holdings Corporation (NASDAQ:XRX) today announced it has agreed to acquire ITsavvy, an Oak Brook, Illinois-based provider of integrated IT products and associated services, for $400 million consisting of a $180 million cash payment and secured promissory notes totaling $220 million, subject to certain customary pre- and post-closing adjustments and escrow arrangements. The transaction is expected to close during the fourth quarter of 2024 and remains subject to merger clearance control. ITsavvy is a portfolio company of GenNx360 Capital Partners, a New York-based private equity firm. "As part of our Reinvention we have created a greater organizational focus on our emerging IT Service

Collaboration aims to deliver advanced digital embellishment capabilities to clients Xerox Holdings Corporation (NASDAQ:XRX) and Taktiful Software Solutions today announced the intent to form a new strategic partnership to extend their presence in the digital embellishment market. This new alliance will build upon a foundation of successful collaboration, leveraging Xerox industry-leading digital printing technology and expansive market reach alongside Taktiful's AI-powered digital embellishment solutions and focus on client-specific empowerment. It will mark a significant step forward in delivering extraordinary production print enhancement capabilities and maximizing business developmen

Xerox Holdings Corporation (NASDAQ:XRX) today announced the election of six new members to the Company's Board of Directors at its Annual Meeting of Shareholders. The new members bring deep technology, product, and operations expertise to further Xerox's Reinvention objective of becoming a services-led, software-enabled organization positioned for sustainable, long-term growth. The newly elected Directors are as follows: John Bruno, President and Chief Operating Officer, Xerox Tami Erwin, former Executive Vice President and Group CEO, Verizon Business Group Priscilla Hung, former President & Chief Operating Officer, Guidewire Software Edward McLaughlin, President & Chief Techn

Xerox Holdings Corporation (NASDAQ:XRX) today announced the appointment of John Bruno as President and Chief Operating Officer. Bruno joins the team following Steven Bandrowczak's promotion to Chief Executive Officer earlier this year. In this role, John will partner closely with the CEO and leadership team to shape the company's global strategy and will be accountable for operating model advancements to improve company performance. He will also oversee global offerings, service delivery, marketing, manufacturing, supply chain, procurement, information technology, and Xerox's IT services business unit. "John brings decades of business, technology, and operations leadership experience at Fo

Xerox Holdings Corporation (NASDAQ:XRX) announced today it has appointed Fred Beljaars as Executive Vice President and Chief Delivery and Supply Chain Officer. Beljaars assumes the position following the departure of Mary McHugh earlier this month. In this newly expanded role, Beljaars is responsible for leading all delivery, manufacturing, supply chain, and procurement operations globally and will focus on continuing to transform these missions to become more client-centric and strategic drivers for Xerox's success. "Given ongoing inflationary pressures encumbering nearly every industry, we are focused on evolving our operations to directly improve customer outcomes," said Steve Bandrowcz

Xerox Holdings Corporation (NASDAQ:XRX) today announced its Board of Directors has appointed Steven Bandrowczak as Chief Executive Officer. Steve joined Xerox in 2018 as the company's President and Chief Operations Officer, and has served as Interim CEO since the passing of John Visentin in June 2022. As President and COO, Steve was responsible for developing and executing a global operations strategy for Xerox's Software and Innovation businesses, as well as the company's business support functions, including business strategy, product and service delivery, customer billing, and information technology. Steve was also president of Xerox Holdings Corporation and served as CareAR's Chairman.

Xerox Holdings Corporation (NASDAQ:XRX) today announced Philip Giordano has been appointed to its board of directors. "Xerox is pleased to announce the addition of Philip Giordano to our Board of Directors," said James Nelson, Chairman of Xerox's Board of Directors. "His depth of experience as a value investor will support our corporate strategy in the years to come. We look forward to the insights and perspective he will provide." Giordano is the Founder and Chief Investment Officer of Livello Capital Management, a registered investment advisor. He previously held senior positions at Goldman Sachs and Deutsche Bank, where he invested across sectors and capital structures following a rigo

NORWALK, Conn.--(BUSINESS WIRE)--Xerox Holdings Corporation (NYSE: XRX), a global workplace technology company, announced Jacques-Edouard Gueden as executive vice president and president of Europe, Middle East & Africa (EMEA) Operations, a role he has filled on an interim basis since the end of September. He reports to John Visentin, Xerox vice chairman and CEO. “Jacques-Edouard will be responsible for Xerox’s go-to-market teams across EMEA to bring Xerox’s full portfolio of products, services and software to new and existing clients and partners,” said Visentin. “His deep knowledge of what clients need and long-term relationships across the region position him well to drive perfor

NORWALK, Conn.--(BUSINESS WIRE)--Xerox Holdings Corporation (NYSE: XRX), a global workplace technology company, announced Xavier Heiss as chief financial officer, a role he’s filled on an interim basis since the end of September. He reports to John Visentin, Xerox vice chairman and chief executive officer. “Xavier combines a deep understanding of the financials with a clear vision for renewing Xerox’s growth,” said Visentin. “His well-established relationships across the business and with global customers position him well to help speed our transformation at a critical time in the company’s history.” Heiss, a 32-year company veteran, has served in various leadership positions in f

Xerox Holdings Corporation (NASDAQ:XRX) announced today that its board of directors declared a quarterly dividend of $0.25 per share on Xerox Holdings Corporation Common Stock. The dividend is payable on January 31, 2025, to shareholders of record on December 31, 2024. The board also declared a quarterly dividend of $20.00 per share on the outstanding Xerox Holdings Series A Convertible Perpetual Preferred Stock. The dividend is payable on January 2, 2025, to shareholders of record on December 16, 2024. About Xerox Holdings Corporation (NASDAQ:XRX) For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and productio

Reinvention drives increased profitability despite a challenging quarter for equipment sales; pending acquisition of ITsavvy to improve revenue mix from higher growth businesses Financial Summary Q3 2024 Revenue of $1.53 billion, down 7.5 percent, or 7.3 percent in constant currency. GAAP net (loss) of $(1.2) billion, or $(9.71) per share, a decrease of $1.3 billion or $9.99 per share, year-over-year, respectively. This quarter includes an after-tax non-cash goodwill impairment charge of $1.0 billion, or $8.16 per share and a charge to tax expense related to the establishment of a valuation allowance of $161 million, or $1.29 per share. Adjusted net income of $34 million, or $0.25

Xerox Holdings Corporation (NASDAQ:XRX) announced today that its board of directors declared a quarterly dividend of $0.25 per share on Xerox Holdings Corporation Common Stock. The dividend is payable on October 31, 2024, to shareholders of record on September 30, 2024. The board also declared a quarterly dividend of $20.00 per share on the outstanding Xerox Holdings Series A Convertible Perpetual Preferred Stock. The dividend is payable on October 1, 2024 to shareholders of record on September 15, 2024. About Xerox Holdings Corporation (NASDAQ:XRX) For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and produ

Reinvention drives sequential operating and financial improvements in Q2; Company revises full-year outlook, reiterates three-year adjusted operating income improvement target Financial Summary Q2 2024 Revenue of $1.58 billion, down 10 percent, or 9.6 percent in constant currency. GAAP net income of $18 million, or $0.11 per share, up $79 million or $0.52 per share, year-over-year, respectively. Adjusted net income of $41 million, or $0.29 per share, down $31 million or $0.15 per share, year-over-year, respectively. Adjusted operating margin of 5.4 percent, down 70 basis points year-over-year. Operating cash flow of $123 million, up $28 million year-over-year. Free cas

Xerox Holdings Corporation (NASDAQ:XRX) announced today that its board of directors declared a quarterly dividend of $0.25 per share on Xerox Holdings Corporation Common Stock. The dividend is payable on July 31, 2024, to shareholders of record on June 28, 2024. The board also declared a quarterly dividend of $20.00 per share on the outstanding Xerox Holdings Series A Convertible Perpetual Preferred Stock. The dividend is payable on July 1, 2024, to shareholders of record on June 15, 2024. About Xerox Holdings Corporation (NASDAQ:XRX) For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print tec

Implemented comprehensive changes to operating model; on track to meet Reinvention targets despite a challenging first quarter Financial Summary Q1 2024 Revenue of $1.50 billion, down 12.4 percent, or 13.2 percent in constant currency. GAAP net loss of $(113) million, or $(0.94) per share, a decrease of $184 million or $1.37 per share, year-over-year, respectively. This quarter includes after-tax Project Reinvention related charges of $100 million, or $0.80 per share. Adjusted net income of $11 million, or $0.06 per share, declined by $71 million or $0.43 per share, year-over-year, respectively. Adjusted operating margin of 2.2 percent, 470 basis points lower year-over-year.

Xerox Holdings Corporation (NASDAQ:XRX) announced today that its board of directors declared a quarterly dividend of $0.25 per share on Xerox Holdings Corporation Common Stock. The dividend is payable on April 30, 2024, to shareholders of record on March 29, 2024. The board also declared a quarterly dividend of $20.00 per share on the outstanding Xerox Holdings Series A Convertible Perpetual Preferred Stock. The dividend is payable on April 1, 2024, to shareholders of record on March 15, 2024. About Xerox Holdings Corporation (NASDAQ:XRX) For more than 100 years, Xerox has continually redefined the workplace experience. Harnessing our leadership position in office and production print

Miller and Nominees Are Committed To Restoring Urgency, Operational Excellence and Shareholder Confidence in Crown Castle Miller and Nominees Bring a Detailed Plan for Optimizing Crown Castle's Fiber Assets, and Materially Improving Operations, Go-To-Market Strategy and Customer Innovation Strategic Plan Financial Targets: AFFO After Discretionary Capex of $2.2 Billion by 2025 Drive EBITDA Margin Per Tower From 70% Toward 75-80%, In Line With Crown Castle's Peers American Tower and SBA A Highly Sustainable Dividend Policy To Build Long-Term Value Annual Interest Cost Savings of $330 Million – In Excess of Expected Churn Costs from Expiring Sprint Contract A Target Share Price of $150-$160 Ba

Achieved adjusted operating margin and free cash flow guidance in 2023; Guiding to another year of meaningful growth in adjusted operating income Financial Summary Q4 2023 Revenue of $1.77 billion, down 9.1 percent year-over-year or down 10.6 percent in constant currency. GAAP net loss of $(58) million, or $(0.50) per share, down $179 million or $1.24 per share, year-over-year, respectively. This quarter includes an after-tax Restructuring and related costs, net charge of $78 million, or $0.62 per share, related to the recently announced workforce reduction. Adjusted net income of $56 million, or $0.43 per share, down $90 million or $0.46 per share, year-over-year, respectively

Financial Summary Q3 2023 Revenue of $1.65 billion, down 5.7 percent, or 7.4 percent in constant currency. GAAP net income of $49 million, or $0.28 per share, up $432 million or $2.76 per share, year-over-year, respectively. Adjusted net income of $77 million, or $0.46 per share, up $44 million or $0.27 per share, year-over-year, respectively. Adjusted operating margin of 4.1 percent, up 40 basis points year-over-year. Operating cash flow of $124 million, up $132 million year-over-year. Free cash flow of $112 million, up $130 million year-over-year. Announces Reinvention, expected to deliver improvement in adjusted operating income of at least $300 million by 2026. X

Citigroup initiated coverage of Xerox with a rating of Sell and set a new price target of $11.00

Credit Suisse initiated coverage of Xerox with a rating of Underperform and set a new price target of $14.00

Morgan Stanley initiated coverage of Xerox Holdings with a rating of Underweight and set a new price target of $17.00

Morgan Stanley downgraded Xerox from Equal-Weight to Underweight and set a new price target of $18.00

Morgan Stanley reiterated coverage of Xerox Holdings with a rating of Equal-Weight and set a new price target of $20.00 from $22.00 previously

Credit Suisse downgraded Xerox Holdings from Outperform to Neutral and set a new price target of $20.00 from $23.00 previously

Credit Suisse Group downgraded Xerox from Outperform to Neutral

Morgan Stanley reiterated coverage of Xerox Holdings with a rating of Equal-Weight and set a new price target of $22 from $24 previously

Xerox Holdings Corp (NASDAQ: XRX) reported a fiscal second-quarter 2024 sales decline of 10.0% year-on-year to $1.58 billion, missing the analyst consensus estimate of $1.60 billion. The stock dropped after the print on Thursday. Revenues declined 9.6% at constant currency. Adjusted EPS of $0.29 missed the analyst consensus estimate of $0.43.  Equipment sales decreased by 15.2%, while post-sale revenue declined by 8.4%.  Gross margin declined 100 basis points Y/Y to 33.0%. The equipment margin fell by 70 bps to 34.5%. The post-sale margin decreased by 110 bps to 32.5%. The company reported an adjusted operating income of $85 million, compared to $107 million last year, and the ma

Sentiment continues to be jittery, with the major index futures priming for a lower opening on Thursday as traders look ahead to the first read of second-quarter GDP data and more earnings. The tech space could once again drag the broader market after a few disappointing earnings reports from the likes of Franco-Italian chipmaker STMicroelectronics N.V. (NYSE:STM), which predominantly supplies to the automotive end market, and semiconductor test-equipment company Teradyne, Inc. (NASDAQ:TER). Traders may also stay glued to second-quarter GDP data to confirm the slowdown suggested by some recent data does not point to a hard landing. That said, bond yields are dipping as the market, factori

2024 Guidance Update Revenue: from a decline of 3% to 5% to a decline of 5% to 6% in constant currency  Adjusted  Operating Margin: from at least 7.5% to at least 6.5% Free cash flow: from at least $600 million to at least $550 million 2024 revenue guidance was lowered to reflect additional reductions in non-strategic revenue, including those associated with incremental Reinvention actions. Adjusted 1 operating income margin guidance was lowered primarily to reflect the reduction in revenue guidance, as well as higher-than-expected freight and product costs. Free cash flow 1 guidance was lowered to reflect lower revenue and adjusted 1 operating income margin guidance. Guidance assume

About 14% of the S&P 500 companies have reported their June quarter earnings and the blended earnings growth rate for the companies constituting the broader index remains healthy. The coming week will see the official start of the tech reporting season, which could potentially decide the fate of the market, which has seen a steep pullback in the recent week. The Week That Was: The tech earnings season had a modest start last week with the earnings report from chip-equipment maker ASML Holding N.V. (NASDAQ:ASML). The stock slumped about 16%, dragged by its weak third-quarter outlook and geopolitical concerns surrounding the China chip ban. Netflix, Inc.’s (NASDAQ:NFLX) guidance disappointe

During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Below are the ratings of the most accurate analysts for three high-yielding stocks in the information technology sector. Xerox Holdings Corporation (NASDAQ:XRX) Dividend Yield: 8.41% Citigroup anal

The Downside Of "Diamond Hands"  Last week, I finally got around to watching Dumb Money, the movie about Keith "Roaring Kitty" Gill and the epic GameStop Corporation (NYSE:GME) pump of a few years ago.  It's entertaining, and worth a watch, but the reason I mention it here is because it includes a cautionary tale about holding a stock indefinitely, with no thought to exiting it. The movie includes a handful of minor characters representing Redditt, Inc. (NYSE:RDDT) users who followed Keith Gill into GME, include one who's a registered nurse. Whenever the movie introduces a character, it shows the character's net worth on the screen and updates it later. When we meet the nurse, she has a

This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. Here's the list of options activity happening in today's session: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume NVDA CALL SWEEP BEARISH 07/05/24 $125.00 $31.2K 42.1K 173.2K AAPL CALL SWEEP BEARISH 07/05/24 $217.50

Citigroup analyst Asiya Merchant initiates coverage on Xerox Holdings (NASDAQ:XRX) with a Sell rating and announces Price Target of $11.

In 2024, the U.S. tech industry has witnessed a wave of significant layoffs, with Tesla Inc. (NASDAQ:TSLA) leading the charge with its strategic downsizing. According to CNBC, citing internal data, the electric vehicle (EV) automaker reduced its workforce by at least 14% this year. This reduction slashed Tesla's global headcount to just over 121,000. In April, Tesla CEO Elon Musk announced a company-wide cut exceeding 10% of its staff. By mid-June, internal records showed the workforce reduction reached at least 14%. Musk cited inefficiencies within the company as a driving factor behind these cuts. Also Read: Elon Musk Believes Pop Singer Justin Timberlake Could Have Avoided DWI Ch