Investing.com – Xerox (NYSE:) 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 (NYSE:) for walking away from a merger.
Shares of Xerox (NYSE:) were down 2.1% in midday trade.
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