Xerox Higher on Restructuring - TheStreet

Xerox (XRX) - Get Report rose 1.4% in early trading after it announced a restructuring that involves slashing $1 billion in costs, mainly through job cuts, and raising up to $4 billion through asset sales.

The company also reported a third-quarter loss of 20 cents per share, edging the

First Call/Thomson Financial

estimate, which was lowered to 19 cents after a warning.