Stocks Ended Lower on Weak Earnings

U.S. stocks finished lower on Monday, as investors weighed a round of lackluster earnings and awaited the conclusion of a Federal Reserve policy meeting later in the week. The Dow Jones industrial average fell 26.51 points, or 0.15%, to 17,977.24. The S&P 500 lost 3.79 points, or 0.18%, to 2,087.79. The Nasdaq Composite dropped 10.44 points, or 0.21%, to 4,895.79.

Xerox Corp (XRX.N) reported a 4.2 percent fall in quarterly revenue, hurt by lower sales of printers and copiers, and said it expects to incur about $100 million in restructuring costs in the second quarter.Net income attributable to the company fell to $34 million, or 3 cents per share, in the first quarter ended March 31, from $225 million, or 19 cents per share, a year earlier. Revenue fell to $4.28 billion from $4.47 billion, compared to analysts’ estimate of $4.24 billion.

Augmedix Inc, a startup that uses Alphabet Inc’s Google Glass to provide documentation services to doctors and other healthcare workers, said on Monday it had closed a $17 million funding round led by investment firm Redmile Group.

Oil futures settled lower on Monday, pulling back after a strong rally last week, on signs of rising global production. West Texas Intermediate crude for delivery in June fell $1.09, or 2.5%, to settle at $42.64 a barrel. June Brent crude fell 63 cents, or 1.4%, to $44.48 a barrel.

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