March 12, 2019 / 6:48 PM / 7 days ago

Xerox - yes, Xerox - leads 2019 gains in S&P tech index

SAN FRANCISCO, March 12 (Reuters) - ** Xerox Corp is leading the S&P 500 information technology index so far in 2019, boasting a gain of 57.4 pct as the printer maker plans to restructure

** Programmable chipmaker Xilinx is up 43.6 pct YTD, the second-best performer in the S&P tech index, which itself is up 15.5 pct YTD, leading the other 10 S&P sectors

** 112-year old XRX said on Mar 7 that it would become a wholly owned unit of a new holding company, with the new company trading under its current XRX ticker

** In the last two qtrs, XRX topped profit estimates and undertook initiatives to streamline its business under the new management

** XRX on Tues was down 0.3 pct, and it is up 4.6 pct over the past 12 months. It is trading at 8.2x expected earnings, vs its 5-yr avg of 7.3x, according to Refinitiv (Reporting by Noel Randewich)

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