Why Xerox Plunged on Friday
Shares of printer and services giant Xerox (XRX -14.06%) plunged 13.7% on Friday as of 1:30 p.m. ET, after the company announced a reduction in its dividend -- the second cut in the span of six months.The dividend cut isn't a great sign of confidence, but a positive, if there is one, is that the cut was made ahead of the closing of a large acquisition. So, it's probably prudent for Xerox to devote more cash to paying down acquisition debt, given current global economic uncertainty.The second cut since Decem ...