Xerox Corporation (XRX) is an American global corporation that sells business services and document technology products. Xerox is headquartered in Norwalk, Connecticut (moved from Stamford, Connecticut in October 2007), though its largest population of employees is based around Rochester, New York, the area in which the company was founded. The company purchased Affiliated Computer Services for $6.4 billion in early 2010. As a large developed company, it is consistently placed in the list of Fortune 500 companies. Researchers at Xerox and its Palo Alto Research Center invented several important elements of personal computing, such as the desktop metaphor GUI, the computer mouse and desktop computing. These features were frowned upon by the then board of directors, who ordered the Xerox engineers to share them with Apple technicians. The features were taken on by Apple and, later, Microsoft. Partly thanks to these features, these two firms would then go on to duopolize the personal computing world. Xerox also invented Ethernet.
Down over 13% today. I remember about 3-4 weeks ago when Cramer was talking about this one on Mad Money saying it was headed up to $13
Reported before open today (4/26/16) Earnings: EPS $0.22 Revenue $4.28B Estimates: EPS $0.23 Revenue $4.24B
Could be a decent short opportunity with a tight stop a little above the 50MA. Gotta break through the resistance of the 200MA and the 50MA in order to hit the stop. Target price between $8.50 and $9.00 depending on how greedy you are.
Another possible short opportunity on this one. Bearish MA crossover and MACD crossover. MA's will act as resistance as well.
Analyst Upgrade/Downgrade Update Brokerage firm: Morgan Stanley Change: Downgrade Previous Rating: Equal weight Current Rating: Underweight Previous Price Target: N/A Current Price Target: N/A
XRX up 20% Tue. On CNDT spin-off completion. Markets cheer increased prospects of higher margins, cashflow, growth.
Down 1% heading into earnings tomorrow morning before the open. To me, missed earnings looks like it has a downside of $6.20-$6.50. Probably not going to pull the trigger, but considering a short headed into earnings.
Hoping for a miss, and targeting somewhere between like $6.25-$6.50. See the blue rectangle in the picture below.
Met earnings, down a bit pre-market so far: Xerox meets 4Q profit forecasts Source: http://news.morningstar.com/all/ass...d6774123/xerox-meets-4q-profit-forecasts.aspx
Closed at $6.76 for a small profit. I waited too long to take profits, but still locked in 2.5% on a 1-day trade. Not my usual style of trading, but there's a few companies I don't really believe in so sometimes I'll gamble at earnings.