Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Goldman Sachs Downgrades Xerox

Xerox (XRX) reported 20 cents adjusted second-quarter earnings per share, vs. 21 cents EPS. Goldman Sachs downgraded the stock to in-line.

Analyst Jack Kelly says he downgrades from outperform to reflect disappointing results and implications for the second-quarter 2005. He notes the company said a shift in product mix accounted for lower-than-expected gross margins.

Kelly says Xerox is maintaining its 90 cents to $1.00 2005 EPS guidance, but now expects results to be closer to the lower end of this range. He sees $1.00 2005 EPS and $1.20 for 2006.

While it's realistic to expect Xerox's gross margins to trend higher throughout the year, he thinks the timing and magnitude of this ramp up remains uncertain, which will limit the stock's upside.

blog comments powered by Disqus