Xerox Stock Downgraded, Still Hire 375 in MD & 200 In VA.

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Date: Thursday August 16, 2012 07:51:47 am
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    Xerox Stock Downgraded, Hire 375 in Maryland & 200 In Virginia

     We have lowered our long-term recommendation on Xerox Corporation  to Underperform from Neutral due to the lackluster performance of the company’s Technology business. With the sluggish economy still recovering, Xerox may face more headwinds going forward.

    Advancements in information technology have replaced traditional means of sending and storing information by digital media. As a result, Xerox and other document industry firms are bearing the brunt of a slowdown in demand for paper-related systems and products.

    Xerox also faces stiff competition from other players in the industry such as Canon, Inc. and Lexmark International Inc. . Moreover, they are broadening their product portfolio and global presence in almost the same way as Xerox.

    Xerox posted mixed results in the second quarter of 2012, with adjusted earnings of 26 cents a share which was in line with the Zacks Consensus Estimates but lower than the year-ago quarter by a penny. Revenues declined 1% (up 1% in constant currency) year over year to $5.54 billion, missing the Zacks Consensus Estimate of $5.58 billion.

    The company anticipates that the economic downturn will further take a toll on its businesses and has subsequently lowered its full-year earnings outlook. Xerox now expects adjusted earnings between $1.07 and $1.12 per share, down from its earlier projection of $1.12 to $1.18.

    However, Xerox is making positive moves in its government healthcare, financial services and retail, travel and insurance businesses. In addition, new partner print services offerings and new signings were other positive takeaways from the recently reported quarter.

    However, we believe that economic weakness in Europe and intense competition from its peers might affect the company’s operations. We are also concerned about its rising debt level, which stood at $9.2 billion as of June 30, 2012, compared with $8.6 billion as of December 31, 2011.

    http://www2.wjtv.com/news/2012/aug/15/xerox-adding-375-jobs-at-western-md-call-center-ar-4342542/
    Xerox adding 375 jobs at western Md. call center
    FROSTBURG, Md. Xerox Corp. says it’s adding 375 jobs at its Frostburg call center.
    The Cumberland Times-News reported in its Wednesday edition that 135 of the positions will be permanent, year-round jobs. The rest will be temporary positions.

    Xerox spokesman Bill McKee says the permanent positions will have competitive wages and benefits.The center is run by the company’s Affiliated Computer Services unit. The new workers will be customer-care agents for health care programs.McKee says the Frostburg center currently has about 300 agents.He says Xerox employs about 1,300 people in Maryland.

    Xerox plans to hire more than 200 people in Virgina
    http://www.youtube.com/watch?v=xF0LFn6k8r0

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