XRX - Xerox Holdings Corporation

NYSE - NYSE Delayed Price. Currency in USD
38.94
+0.29 (+0.75%)
At close: 4:08PM EST
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Previous Close38.65
Open39.03
Bid37.00 x 800
Ask0.00 x 900
Day's Range38.55 - 39.20
52 Week Range18.58 - 39.38
Volume2,276,717
Avg. Volume2,149,007
Market Cap8.482B
Beta (3Y Monthly)1.76
PE Ratio (TTM)13.74
EPS (TTM)2.84
Earnings DateJan 27, 2020 - Jan 31, 2020
Forward Dividend & Yield1.00 (2.57%)
Ex-Dividend Date2019-12-30
1y Target Est41.00
  • Benzinga

    HP Rejects Xerox 'Unsolicited' Buyout Offer, Open To Further Discussion

    HP’s board of directors “unanimously” rejected the “unsolicited” acquisition deal the veteran copy machine maker Xerox offered on Nov. 5, the California-based company said in a statement on Sunday. Xerox offered a $33.5 billion buyout deal to HP — a company with a market value three times bigger than the potential buyer's. HP shareholders would end up owning approximately 48% of the merged company.

  • TheStreet.com

    HP Slips Lower After Rejecting $32.6 Billion Xerox Takeover; Says Open To Talks

    HP shares were indicated lower in pre-market trading Monday after the personal computer maker rejected a potential $32 billion takeover bid from Xerox while noting it was "open to exploring" a potential tie-up with its smaller rival.

  • HP says open to exploring bid for Xerox
    Reuters

    HP says open to exploring bid for Xerox

    Xerox made the offer for HP, a company more than three times its size, on Nov. 5, after it resolved a dispute with its joint venture partner Fujifilm Holdings Corp that represented billions of dollars in potential liabilities. Responding to Xerox's offer on Sunday, HP said in a statement that it would saddle the combined company with "outsized debt" and was not in the best interest of its shareholders. "With substantive engagement from Xerox management and access to diligence information on Xerox, we believe that we can quickly evaluate the merits of a potential transaction," HP said in its statement.

  • Barrons.com

    HP Rejects Xerox Bid as Too Low and Not in ‘the Best Interests of Shareholders’

    HP didn’t completely rule out a combination of the two printer companies and said it is open to talking to Xerox.

  • Bloomberg

    HP Rejects Xerox Offer as Too Low While Staying Open to Deal

    (Bloomberg) -- HP Inc.’s board unanimously rejected Xerox Holdings Corp.’s unsolicited takeover proposal, saying the $22-a-share offer is too low and citing concerns about the smaller rival’s prospects in the printing industry.HP is “open to exploring” a merger but there are “fundamental questions that need to be addressed,” Chief Executive Officer Enrique Lores and Chairman Chip Bergh wrote in a letter to Xerox CEO John Visentin. They cited Xerox’s revenue decline since June 2018, “which raises significant questions for us regarding the trajectory of your business and future prospects.”HP pressed for access to Xerox’s books as a step toward any potential combination, which would unite iconic brands and reshape the printing industry. Norwalk, Connecticut-based Xerox is one of the biggest sellers of photocopiers, while Palo Alto, California-based HP is one of the world’s largest printer makers. A representative for Xerox wasn’t immediately available for comment.“With substantive engagement from Xerox management and access to diligence information on Xerox, we believe that we can quickly evaluate the merits of a potential transaction,” Lores and Bergh wrote. “We remain ready to engage with you to better understand your business and any value to be created from a combination,” they added.HP officials believe they can move quickly on due diligence because the two companies have had on-and-off-again conversations over the years, and even asked for such a review toward a potential combination back in September, according to people familiar with the situation who asked not to be identified. HP officials are open to any form of transaction that would create the most value for shareholders and may consider buying Xerox, the people said.HP’s statement included a Nov. 5 letter from Xerox outlining the offer of $17 a share in cash and 0.137 Xerox shares for each HP share, for a total transaction value of $33.5 billion. Xerox’s letter said the offer remained open until Nov. 13.Since news of the talks broke on Nov. 5, HP’s shares have risen 9.7% to $20.18, giving it a market capitalization of $29.9 billion. Xerox has risen about 7.1% to $38.94, for a market cap of $8.42 billion.A combination has had the support of investor Carl Icahn, who filings last week show had raised his stake in HP to 4.2% of shares outstanding in the third quarter. Icahn, in an interview last week with the Wall Street Journal, said he sees HP as undervalued and that a combination would benefit both companies through cost savings.A representative for Icahn wasn’t immediately available for comment Sunday.(Updates with shares in seventh paragraph. An earlier version was corrected to remove a reference to when HP’s board made decision)To contact the reporters on this story: Jim Silver in New York at jsilver@bloomberg.net;Scott Deveau in New York at sdeveau2@bloomberg.netTo contact the editors responsible for this story: Sebastian Tong at stong41@bloomberg.net, Matthew G. Miller, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • HP rejects $33.5 billion takeover bid from Xerox
    MarketWatch

    HP rejects $33.5 billion takeover bid from Xerox

    The Palo Alto, Calif.-based company said Sunday that the cash and stock deal undervalues its business and its board cited concerns about “outsized” debt levels should the companies combine.

  • Reuters

    UPDATE 2-HP says open to exploring bid for Xerox

    HP Inc said on Sunday it was open to exploring a bid for U.S. printer maker Xerox Corp after rebuffing a $33.5 billion cash-and-stock acquisition offer from the latter as "significantly" undervaluing the personal computer maker. Xerox made the offer for HP, a company more than three times its size, on Nov. 5, after it resolved a dispute with its joint venture partner Fujifilm Holdings Corp that represented billions of dollars in potential liabilities. Responding to Xerox's offer on Sunday, HP said in a statement that it would saddle the combined company with "outsized debt" and was not in the best interest of its shareholders.

  • Financial Times

    HP board unanimously rejects Xerox offer

    Carl Icahn, the veteran activist investor, owns stakes in both companies, and has described a tie-up as “a no-brainer”. Launched on November 5, Xerox’s unsolicited cash-and-shares offer represented a premium of about 20 per cent to HP’s closing share price.

  • Barrons.com

    The Dow Fell 2 Points Because the Fed and Trade Talks Are Both Stuck

    Markets continue to shrug off the presidential impeachment inquiry. Speeches from Federal Reserve officials didn’t offer much news.

  • Barrons.com

    HP and Xerox Stock Rally After Carl Icahn Pushes for Deal

    Activist investor Carl Icahn thinks a combination of the two printer companies would generate substantial profits for investors.

  • 10 Best Performing Stocks of S&P 500 ETF
    Zacks

    10 Best Performing Stocks of S&P 500 ETF

    In the recent series of record highs, the S&P 500 crossed the 3,100 level for the first time ever. We have highlighted 10 best performing stocks in ETF that tracks this index.

  • Carl Icahn wants to see HP-Xerox merger
    American City Business Journals

    Carl Icahn wants to see HP-Xerox merger

    Activist investor Carl Icahn told the Wall Street Journal that the Xerox takeover deal for HP is a "no-brainer."

  • Benzinga

    Icahn Reveals HP Stake, Pushes For Xerox Merger

    Activist investor Carl Icahn's latest project would fuse HP Inc (NYSE: HPQ) and Xerox Holdings Corp (NYSE: XRX) into a cost-saving, profit-spewing mega-printer. “I think a combination is a no-brainer,” Icahn told the Wall Street Journal. Icahn owns 10.6% of Xerox stock and revealed a 4.24%, $1.2-billion stake in HP on Thursday to the Journal.

  • Market Exclusive

    Market Morning: Smith & Wesson To Split Off, Impeachment, Trade Chatter, Facebook Lowers Grades

    American Outdoor Brands to Split With Smith & Wesson American Outdoor Brands (NASDAQ:AOBC) will be separating its gun business, run by Smith & Wesson, from its other outdoor products and accessories business, citing a change in the political climate. The split will be completed by the second half of 2020, just before any Democratic challenger […]The post Market Morning: Smith & Wesson To Split Off, Impeachment, Trade Chatter, Facebook Lowers Grades appeared first on Market Exclusive.

  • Icahn pushes for HP merger with Xerox - WSJ
    Reuters

    Icahn pushes for HP merger with Xerox - WSJ

    Icahn, who owns a 10.6% stake in Xerox, disclosed a stake of 62.9 million shares of HP valued at $1.19 billion as of Sept. 30, in an SEC filing on Thursday. An HP spokesperson told Reuters the company is aware of Icahn's investment and is committed to doing what is in the best interests of all HP shareholders. Xerox made a roughly $33 billion cash-and-stock offer for HP, a company more than three times Xerox's size, Reuters reported last week.

  • Reuters

    UPDATE 3-Icahn pushes for HP merger with Xerox - WSJ

    Activist investor Carl Icahn has taken a stake in HP Inc and is pushing for the personal computer maker's merger with printer maker Xerox Corp, arguing that a union could yield big profits for investors, according to the Wall Street Journal. Icahn, who owns a 10.6% stake in Xerox, disclosed a stake of 62.9 million shares of HP valued at $1.19 billion as of Sept. 30, in an SEC filing on Thursday. An HP spokesperson told Reuters the company is aware of Icahn's investment and is committed to doing what is in the best interests of all HP shareholders.

  • Icahn pushes for HP merger with Xerox: WSJ
    Reuters

    Icahn pushes for HP merger with Xerox: WSJ

    Icahn, who owns a 10.6% stake in Xerox, disclosed a stake of 62.9 million shares of HP valued at $1.19 billion as of Sept. 30, in an SEC filing on Thursday. An HP spokesperson told Reuters the company is aware of Icahn's investment and is committed to doing what is in the best interests of all HP shareholders. Xerox made a roughly $33 billion cash-and-stock offer for HP, a company more than three times Xerox's size, Reuters reported last week.

  • Icahn pushes for Xerox-HP merger - WSJ
    Reuters

    Icahn pushes for Xerox-HP merger - WSJ

    Nov 13 (Reuters) - Activist investor Carl Icahn is pushing for the proposed merger of Xerox Corp and HP Inc , arguing that a union of the printer makers could make big profits for investors, the Wall Street Journal reported on Wednesday.

  • Xerox's Bid for HP: Could Consolidation Return Profits to Printing?
    GuruFocus.com

    Xerox's Bid for HP: Could Consolidation Return Profits to Printing?

    The companies would likely benefit from a merger, but not merging may be seen as a sell signal Continue reading...

  • Moody's

    Xerox Corporation -- Moody's announces completion of a periodic review of ratings of Xerox Corporation

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Xerox Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • Barrons.com

    For Xerox Investors, the Best Place to Stand Might Be Out of the Way

    Xerox stock is a wait-and-see game, J.P. Morgan says. After all, HP could turn around and bid for Xerox.

  • Benzinga

    PreMarket Prep Recap: Looking Under The Hood Of The S&P 500 Index

    A common theme on the show when talking about a particular issue is whether or not there is a catalyst present to move an issue up or down. The catalyst for Alibaba (NYSE: BABA) was the results from the Nov. 11 Singles Day event taking place. Although the issue was trading in the red, co-host Dennis Dick revealed how he traded the issue from the long-side that was yielding him a positive return.

  • TheStreet.com

    HP Upgraded at Evercore as Potential Xerox Tie-Up Seen as Positive

    Shares of HP Inc. were rising 0.8% to $19.67 Monday after analysts at RBC Capital upgraded the stock to outperform from in-line while also raising their price target to a Wall Street high of $24 a share from $19. The firm is bullish on the company as it believes that a potential merger with Xerox , as has been rumored over the past week, creates pressure on the management to maximize value for shareholders. Bloomberg reported Monday that Xerox was prepared to offer HP four weeks for both sides to examine one another's books.

  • Xerox makes an offer to buy HP for $33B
    Yahoo Finance Video

    Xerox makes an offer to buy HP for $33B

    Last week, Xerox made an offer to buy HP for $33 billion. Yahoo Finance’s Adam Shapiro, Julie Hyman, Dan Howley and Albion Financial Group Partner’s Jason Ware discuss the big move between the two printmakers.