FINWIRES · TerminalLIVE
FINWIRES

Xerox Shareholder Starteepo Urges Strategic Review of Xerox Financial Services Unit

By

Xerox (XRX) shareholder Starteepo is urging the company to unlock shareholder value by boosting transparency about the performance of the company's Xerox Financial Services unit, and assessing strategic alternatives for the unit, the Prague-based alternative investment fund said Tuesday.

In an open letter to Xerox's board, the fund also asked the company to deleverage its balance sheet and exercise capital discipline.

Starteepo, which stated that it has a 7.34% stake in Xerox, said the Xerox Financial Services had the potential to be worth $7.69 per share, which is more than double the share price for the entire company.

Xerox did not immediately reply to a request for comment from.

Price: $3.39, Change: $+0.07, Percent Change: +2.11%

Related Articles

Wire

Top Cryptocurrencies Fall; Bitcoin Drops Below $80,000

Top cryptocurrencies fell Friday, with Bitcoin (BTC-USD) dropping below $80,000.The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, fell 2.4% in the past 24 hours. The Nasdaq 100 rose 0.2%, the S&P 500 lost 0.4%, and the Dow Jones Industrial Average decreased 0.5%.Bitcoin fell 2.5% to $79,707, according to CoinMarketCap data. The most popular cryptocurrency's 24-hour trading volume rose 14.8% to $41.06 billion.Ethereum (ETH-USD), the second-largest digital asset by market value, declined 2.4% to $2,456.XRP (XRP-USD) lost 4.4%, BNB (BNB-USD) fell 0.5%, and Solana (SOL-USD) shed 3.3%. Dogecoin (DOGE-USD) slumped 5%, and Cardano (ADA-USD) dropped 3.6%.The total market value of the cryptocurrency industry fell 2% in the past 24 hours to $2.68 trillion, with trading volume increasing 13.3% to $108.51 billion.Price: $79726.92, Change: $-1545.00, Percent Change: -1.90%

$ADA-USD$BNB-USD$BTC-USD$DOGE-USD$ETH-USD$SOL-USD$XRP-USD
Wire

Update: Trade Desk Shares Fall After Company Announces 15% Workforce Cut

(Updates with the latest stock move in the headline and first paragraph.)Trade Desk (TTD) shares fell 4.9% in Friday trading after the company announced plans to reduce its workforce by 15%, with most of the cuts expected to be completed during Q3.The company expects to incur $39 million to $51 million in charges related to employee severance and benefit costs, partially offset by a reversal of $4 million to $5 million related to stock-based compensation, Trade Desk said in a regulatory filing.The company said it may incur additional charges or cash expenditures not currently anticipated as it implements the plan.Price: $14.35, Change: $-0.74, Percent Change: -4.94%

$TTD
Wire

Update: Quanex Building Products Shares Rise After Q3 Beat

(Updates with recent stock movement in the headline and the first paragraph.)Quanex Building Products (NX) shares rose nearly 18% in Friday trading, a day after the company reported fiscal Q3 adjusted earnings and revenue that topped analysts' estimates.The company posted fiscal Q3 adjusted earnings of $0.79 per diluted share, up from $0.69 a year earlier.Four analysts polled by FactSet expected $0.66.Revenue for the quarter ended July 31 was $501.8 million, up from $495.3 million a year earlier.Four analysts expected $497.5 million.Price: $22.12, Change: $+3.36, Percent Change: +17.88%

$NX