Xerox Stock Pops After Billion-Dollar Acquisition

Xerox Holdings Corp (NASDAQ:XRX) agreed to acquire Chinese-owned printer and software name Lexmark International from Ninestar, PAG Asia Capital, and Shanghai Shoulda Investment Centre for $1.5 billion, with hopes to revive its mainstay business. XRX was last seen 3% higher to trade at $8.64, on track for its best day since Nov. 21. In late October, Xerox stock experienced a post-earnings bear gap that placed it at $8.02 -- its lowest level on record. The 40-day moving average stymied an attempt to rally fr ...