Xerox (XRX) follows the sale offs after downward guidance for 2019

Хerox (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 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 for walking away from a merger.

 Trader Georgi Bozhidarov

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