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Xerox (XRX) Announces Plan to Manufacture Hand Sanitizers
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Xerox Holdings Corporation (XRX - Free Report) on Tuesday announced that it will manufacture around 140,000 gallons of hand sanitizer by June 2020, with deliveries commencing by the end of this month.
The sanitizer will be produced at the company’s facilities in Toronto and near Rochester, NY, and distributed to authorized vendors to frontline healthcare organizations.
"Essentials like hand sanitizer will continue to be in high demand. The team moved fast, figured out how to get over the hurdles and are starting to deliver product – all in under a month," said John Visentin, vice chairman and chief executive of Xerox.
The move comes on the heels of Xerox partnering with Vortran Medical Technology to mass-produce the latter’s Go2Vent, which is a gas-operated disposable ventilator generally used by the first responders during emergency and disaster situations, and disease outbreaks.
Such moves underscore the company’s continued support for the society to help it sail through the coronavirus pandemic.
Notably, Xerox terminated its tender offer to acquire HP Inc. (HP - Free Report) last month, ending attempts to win a slate of HP board of directors. A debt-heavy acquisition of a much larger company is infeasible for Xerox amid the coronavirus-induced changes in business conditions.
Xerox’s shares have slumped 50.1% over the past year compared with the 26% fall of the industry it belongs to and the 7.3% decline of the S&P 500 Composite index.
The long-term expected EPS (three to five years) growth rate for CoreLogic and GreenSky is 11% and 13%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Xerox (XRX) Announces Plan to Manufacture Hand Sanitizers
Xerox Holdings Corporation (XRX - Free Report) on Tuesday announced that it will manufacture around 140,000 gallons of hand sanitizer by June 2020, with deliveries commencing by the end of this month.
The sanitizer will be produced at the company’s facilities in Toronto and near Rochester, NY, and distributed to authorized vendors to frontline healthcare organizations.
"Essentials like hand sanitizer will continue to be in high demand. The team moved fast, figured out how to get over the hurdles and are starting to deliver product – all in under a month," said John Visentin, vice chairman and chief executive of Xerox.
The move comes on the heels of Xerox partnering with Vortran Medical Technology to mass-produce the latter’s Go2Vent, which is a gas-operated disposable ventilator generally used by the first responders during emergency and disaster situations, and disease outbreaks.
Such moves underscore the company’s continued support for the society to help it sail through the coronavirus pandemic.
Notably, Xerox terminated its tender offer to acquire HP Inc. (HP - Free Report) last month, ending attempts to win a slate of HP board of directors. A debt-heavy acquisition of a much larger company is infeasible for Xerox amid the coronavirus-induced changes in business conditions.
Xerox’s shares have slumped 50.1% over the past year compared with the 26% fall of the industry it belongs to and the 7.3% decline of the S&P 500 Composite index.
Zacks Rank and Stocks to Consider
Xerox currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are CoreLogic and GreenSky , each carrying a Zacks Rank #2 (Buy) currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected EPS (three to five years) growth rate for CoreLogic and GreenSky is 11% and 13%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>