Xerox

Activist investor Starteepo reported a 7.34% stake in Xerox and, in a letter, demanded comprehensive strategic and governance changes. Starteepo views the financial services unit as a standalone value driver with a fair value of up to $7.69 per share and calls for accelerated debt reduction, stricter capital discipline and greater transparency. The disclosure triggered a premarket price rise that is attributed almost entirely to this activist pressure, while the broader market provided little impetus. » More on de.investing.com

In the second quarter Xerox sold customs refund claims with a book value of $105m for $80m in cash to a third party to raise liquidity. A significant portion of the proceeds was used to repurchase liabilities at a discount as the company responds to upcoming debt maturities in 2028–2030. In the quarter Xerox reported revenue of $1.9bn (+22% YoY) and adjusted net income of $55m; total debt stands at $4.2bn. » More on de.investing.com

Xerox reported Q2 revenue of $1.92 billion, up 22% year-over-year largely from the Lexmark acquisition, though pro forma revenue fell about 7%. Adjusted operating margin rose to 10.6%, aided by $105 million in tariff receivables and Lexmark integration synergies, and adjusted EPS was $0.38. The company reduced total debt by $223 million, lowered gross leverage to 5.9x, repurchased discounted notes and trimmed its 2028 maturity wall. Management raised 2026 revenue guidance to about $7.6 billion, upped adjusted operating-income guidance to $555M–$605M, and raised the Lexmark synergy target to at least $350 million while flagging near-term equipment supply and IT Solutions sales-force investments as challenges. » More on finance.yahoo.com