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Xerox Holdings Corporation (XRX) has been removed from the S&P Technology Hardware Select Industry Index effective February 16, 2026, following its earlier exit from the S&P Global BMI Index on February 15, 2026, according to announcements from S&P Dow Jones Indices. These index deletions come amid the company’s ongoing structural pivot, including the integration of recent acquisitions like Lexmark and ITsavvy, a redesigned global print go-to-market structure set to unify sales models and drive efficiency starting in Q2 2026, and a new joint venture with TPG that raised $450 million to monetize intellectual property, strengthen the balance sheet, and support long-term transformation efforts. The removals are likely to trigger passive selling from ETFs and index-tracking funds, exacerbating share price volatility in a period where Xerox has faced challenges such as declining print hardware demand, negative free cash flow pressures, and credit rating downgrades. Despite these headwinds, the company anticipates over $200 million in adjusted operating income growth for 2026 as synergies from its reinvention initiatives materialize.
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