Xerox's Stock Slips After 2015 Profit Outlook

Xerox's stock fell 0.8% in premarket trade Tuesday, after the document management company provided a somewhat downbeat 2015 profit outlook. Xerox expects adjusted per-share earnings in the range of $1.11 to $1.17, compared with the FactSet consensus analyst estimate of $1.17. The company affirmed 2014 adjusted earnings-per-share outlook of $1.11 to $1.13. Xerox also said that it has added $1.5 billion to its stock repurchase plan, and expects to spend $500 million on buybacks in 2015. The stock has climbed 9.9% year to date through Monday, in line with the 10% gain in the S&P 500.