Shares plunged 5.2% to US$28.60 before the bell after the firm announced on Sunday it was stopping its pursuit of a merger with Fujifilm Holdings and had instead reached an agreement with its top shareholders to replace its chief executive and board.
The firm reached a new agreement with top Xerox shareholders Carl Icahn and Darwin Deason, who had strongly opposed the Fujifilm merger.
Computer chip firm Qualcomm Inc (NASDAQ:QCOM) was a notable riser in pre-market with shares up 2.59% to US$56.66.
It comes after powerhouse China has picked up again its review of the tech group's proposed US$44 billion takeover of NXP Semiconductors NV, Bloomberg reported today.
Meanwhile, Hanwha Q Cells Co Ltd (NASDAQ:HQCL) saw shares lose 0.29% to US$6.92 in pre-market after it reported first quarter EPS (earnings per share) of US$0.37 compared to US$0.14 in the same period last year, while revenue for the quarter came in at US443 million versus a consensus estimate of US$438.4 million.
Perrigo Company PLC (NYSE:PRGO) shares shed 4.54% to US$74 in pre-market deals, after the pharma group reduced its guidance for 2018, revealing it won't launch a generic version of an asthma medication in the fourth quarter as planned.