Xerox Corp.

Civil liberties groups are suing the SEC, saying policy of 'no admit, no deny' is unconstitutionalOn Friday, the U.S. Court of Appeals for the Second Circuit heard arguments in the case Romeril v. SEC, in which the former chief financial officer of Xerox Holdings Corp. XRX, Barry Romeril is challenging the constitutionality of the gag order the SEC imposed on him in a 2003, when he settled claims that he directed his employees to make misleading accounting adjustments that inflated Xerox earnings between 1997 and 2000, without admitting nor denying the allegations. He was forced to pay more than $4 million in penalties and disgorgements.

Carl Icahn boosts his Xerox stakeActivist investor Carl Icahn increased his Xerox Holdings Corp. stake, sold off Caesars Entertainment Group, according to a filing.

Xerox to create 3 new businesses, in software, financing and innovationCopier and printer maker Xerox Holdings Corp. said it plans to create three new businesses: Software, Financing and Innovation. The company ssaid Sam Waicberg will lead the software business, which includes the recently acquired CareAR and its content-management system DocuShare, as well as its marketing software company XMPie and its FreeFlow automation software for production print business. Nicole Torraco will lead Xerox Financial Services, which will become a payment solutions business. Chief Technology Officer Naresh Shanker will lead the PARC Innovation business, which includes its 3D liquid metal, cleantech technology and industrial Internet-of-Things (IoT) products. Xerox's stock, which rose 6.8% in midday trading, has rallied 29% over the past three months but has tumbled 37% over the past 12 months. In comparison, the S&P 500 has gained 15.2% the past three months and advanced 16.8% the past year.

Walgreens taps Starbucks exec Roz Brewer as its new CEOWalgreens said Tuesday it has tapped Starbucks executive Roz Brewer as its new CEO, which will make her the only Black woman leading a Fortune 500 company.

Xerox stock slips after profit misses expectations, but revenue tops forecastsShares of Xerox Holdings Corp. slipped 0.6% in premarket trading Tuesday, after the copier and printer maker reported a fourth-quarter profit that missed expectations while revenue topped forecasts. Net income fell to $77 million, or 36 cents a share, from $818 million, or $3.61 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share fell to 58 cents from $1.33, to miss the FactSet consensus of 63 cents. Total revenue fell 21% to $1.93 billion, above the FactSet consensus of $1.90 billion. Gross margin declined to 36.2% from 41.6%. For 2021, Xerox expects revenue of "at least $7.2 billion" on a constant currency basis, while the FactSet consensus is $7.08 billion. "Though the impact of the pandemic continues in 2021, we expect to return to growth this year as we increase the breadth of offerings and reach new customers in existing and new businesses," said Chief Executive John Visentin. The stock has gained 9.7% over the past three months through Monday, while the S&P 500 has advanced 13.4%.