Xerox, Pitney: Office Equipment Losers
NEW YORK (TheStreet) -- One of Monday's biggest sector losers has been the electronic office equipment group.
Presstek (PRST) stock was lower by 3.1% to $1.89, nearing its 52-week low of $1.55. In the third quarter, the digital solutions provider posted an operating loss of about $1.3 million, compared with a loss of about $6.1 million the same time last year. The company continued to see "sluggish" sales in this year's third quarter due to declines in its traditional, consumables and service businesses.
Xerox (XRX) shares have been falling 2.9% to $11.42. Over the past year, the stock has traded at a high of $11.96 and low of $7.64 as the company's business process outsourcing and information technology services unit Affiliated Computer Services aims to expand its Medicaid business to the exchanges or online marketplaces mandated by the federal healthcare reform. The office equipment provider's ACS unit recently became one of the largest providers of customer care services to the pharmaceutical, biotech and healthcare industries through the acquisition of TMS Health from private equity firm Palm Beach Capital. According to the Wall Street Journal, National Semiconductor (NSM) is currently conducting a healthcare dependent audit through ACS.
Pitney Bowes (PBI) has fallen 1.8% to $22.05. The mail processing equipment provider says that a number of its smaller customers still have uncertain economic outlooks. However, Pitney has seen a pick-up in demand from larger U.S. enterprise customers, reflected by increased mail volumes processed by Pitney's mail services business and improved demand for its software solutions and equipment products. During the third quarter, Pitney's earnings declined 14%, but surpassed Wall Street estimates on an adjusted-basis.Computerized manufacturing systems provider Gerber Scientific (GRB) shares were falling 4.1% to $7.09, also helping to drag down the group. Over the past 12 months, the stock has reached a high of $8.03 and a low of $4.64. >>Search for Highest Dividends by Rate or Yield
|More on Earnings Today's Top Earnings|
>To contact the writer of this article, click here: Andrea Tse. >To follow the writer on Twitter, go to Andrea Tse. >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV