Billionaire investor Carl Icahn has bought 7.13 percent stake in Xerox Corp. Carl Icahn's statement terming the shares of Xerox are undervalued has triggered the price rise in stock. The stake sale will pave the way for strategic changes at Xerox Corp. Icahn will represent on Xerox's board and is expected to take up enhancing of operational performance.
Xerox Corp cut its full-year profit forecast, blaming a strong dollar, and the company reported lower-than-expected quarterly revenue as its printer sales fell and costs rose.
Xerox Corp (XRX.N) said it agreed to sell its information technology outsourcing arm to French IT services firm Atos SE (ATOS.PA) for $1.05 billion, sending its shares up almost 4 percent in late trade on Thursday.
A group of companies, including several large automakers, have joined a public-private research initiative to lay the groundwork for a system that wirelessly connects vehicles and helps smooth the flow of traffic, the University on Michigan said on Friday.
South Carolina-based 3D printing solutions provider 3D Systems bought California-based 3D modeling firm Gentle Giant Studios for an undisclosed amount just a month after announcing its intention to acquire Xerox Corp's engineering group.
Wal-Mart Stores Inc and Xerox Corp blamed each other for the glitch that caused food stamp recipients to go on an all-out shopping spree over the weekend.
Xerox Corp said the glitch that affected food stamp beneficiaries in 17 states was caused by a temporary shutdown of the system after a test was performed.
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