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Xerox brightens its 2014 earnings forecast

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Xerox Corp.’s stock rose nearly 4 percent, the most in a month, after the printer and photocopier pioneer predicted that its 2014 earnings may grow more than analysts have estimated, thanks to business services. “Fifty-six percent of our revenue now comes from services, and we’re on track to grow that number to 66 percent by 2017,” said chief executive Ursula Burns (above). In addition, Xerox’s board approved a $500 million increase in the company’s stock-repurchase program, bringing the current authorization to about $1.5 billion.

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