Monday, April 23, 2007

Xerox looks good

Xerox (NYSE XRX) announced earnings after the bell on Friday, and impressed watchers with favorable numbers, with the stock spiking to near its 52-week high of $18.74. Some found reasons to doubt, though. Matthew Troy at Citibank downgraded the stock from a "hold" to a "sell", and another analyst, Jeff Embersits of Shareholder Value Management, notes in comments to Marketwatch that the absence of hard unit numbers in the announcement is an indicator of possible deficiencies. No news is not good news, at least in this analyst's way of thinking.

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