The market looks to be poised for a positive opening this morning, and so does Xerox Corp. (NYSE: XRX). The company's shares have been trading higher despite posting a first-quarter loss as its adjusted earnings matched analysts' estimates.Xerox, the leading provider of digital printers and document management services, reported this morning that it swung to a loss of $244 million, or 27 cents per share, hurt by a litigation charge that overshadowed strong sales growth. Included in the office equipment maker's earnings figures were 54 cents related to that lawsuit settlement. Excluding that, Xerox would have posted quarterly earnings of 27 cents, in line with analysts' predictions.
Xerox also announced a 13% growth in its quarterly sales, which climbed up to $4.34 billion from $3.84 billion a year earlier. Analysts had expected revenue of $4.24 billion, according to Thomson Financial.
Closing Bell: Can't go up every day (BAC, HE, HPW, COMS, BRCD, WMT, AMD)
Wal-Mart grows profit and cash flow in Q3, but comps still ailing
Chasing Value: Ten stocks for 2010 -- Part 2
