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Stock Market & Financial Investment News

News Breaks
July 17, 2014
16:13 EDTAA, HPQHP appoints Whitman Chairman, Alcoa's Kleinfeld joins board
HP (HPQ)announced that Meg Whitman, HP president and CEO, has been appointed chairman of the board of directors, and current director Pat Russo has been appointed lead independent director. Additionally, Klaus Kleinfeld, chief executive and chairman of Alcoa (AA), has been appointed to the board, bringing the total number of board members to 12. Whitman has been president and chief executive officer of HP since September 2011 and a member of the board since January 2011. Russo has been a director since 2011. She leads the HR and Compensation Committee and is a member of the Nominating, Governance and Social Responsibility Committee. "I'm extremely pleased that the board has elected Meg its chairman and Pat lead independent director," said Ralph Whitworth, departing chairman of HP's board. "Meg and Pat are unwavering in their commitment to the corporate governance, capital allocation and management incentive principles that drove our decisions these past three years. They will stick to and strengthen the critical practices and disciplines we've put in place. HP is in great hands." "Meg has been an outstanding leader since coming to HP, and we believe that as chairman she can most effectively drive the turnaround and continue to build value for our shareholders," said Gary Reiner, chairman of the Nominating, Governance and Social Responsibility Committee. Reiner added, "Throughout Pat's three years on the board, her deep operational and technology experience and her commitment to governance best practice have proved invaluable. She was the obvious choice to step in as lead independent director."
News For HPQ;AA From The Last 14 Days
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December 17, 2014
16:00 EDTAAOptions Update; December 17, 2014
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10:14 EDTHPQHP best way to play coming PC sales outperformance, Citi says
Sales of PCs will be at least flat next year, before growing slightly in 2016 and 2017, Citigroup wrote in a note to investors today. The firm identified HP (HPQ) as the best way to play better than expected PC sales. WHAT'S NEW: Although many believe that PCs will become extinct, there are several reasons why sales of personal computers will begin growing again, Citi analyst Jim Suva contended. Sales of commercial PCs in emerging markets should increase over the long-term, as those PCs are aging, according to Suva. He estimated that commercial PCs in emerging markets account for 27% of the total PC market. Meanwhile, tablets were supposed to replace PCs, but tablet sales growth slowed to just 8% this year, indicating that tablets are becoming less of a threat to PCs, he wrote. Additionally, some believe that PC demand was inflated by a rush to replace computers running Microsoft's (MSFT) Windows XP operating system this year after the company stopped supporting XP, but Suva believe that PC demand growth in 2014 was more driven by a need to buy new computers following a lull in growth in 2012-2013 than by the XP situation. As a result, the analyst estimates that the XP phenomenon will only reduce next year's PC growth by 1%, versus the 3%+ reduction that investors fear. HP is the best way to play the PC rebound, wrote Suva, who raised his price target on the company's shares to $46 from $40 and kept a Buy rating on the stock. WHAT'S NOTABLE: Suva raised his price target on hard disk drive maker Western Digital (WDX) to $125 from $110 and on its competitor, Seagate (STX), to $74 from $70, as he noted that the companies obtain about 50% of their revenue from PCs. He kept Buy ratings on both names. PRICE ACTION: In early trading, Hewlett-Packard gained 2.7% to $38.32, Western Digital rose 1.7% to $106.30, and Seagate climbed 1% to $63.89.
06:20 EDTHPQHP price target raised to $46 from $40 at Citigroup
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December 16, 2014
16:00 EDTAAOptions Update; December 16, 2014
iPath S&P 500 VIX Short-Term Futures up 1.55 to 34.60. Option volume leaders: AAPL TSLA TWTR AMZN FB C GILD BAC NFLX AA MGM MCD according to Track Data.
08:04 EDTAAAlcoa Q4 EPS should beat expectations, says Stifel
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06:02 EDTAAAlcoa implied volatility of 46 at upper end of index mean range
December 15, 2014
11:31 EDTHPQHP, NYC Comptroller reach $10.6M settlement to resolve ECTP dispute
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10:05 EDTHPQHP participates in a conference call with Oppenheimer
Oppenheimer hosts Antonio Neri, Senior Vice President & General Manager-Enterprise Group, who discusses HP convergence, servers and networking on a conference call to be held on December 15 at 11 am.
09:38 EDTAAActive equity options trading
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05:47 EDTAAAlcoa to acquire TITAL, terms not disclosed
Alcoa announced plans to further expand its global aerospace business through a definitive agreement to acquire privately held TITAL. The acquisition will strengthen Alcoa’s global position to capture increasing demand for advanced jet engine components made of titanium. This transaction will further position Alcoa to capitalize on strong growth in the commercial aerospace sector. Alcoa projects a compounded annual commercial jet growth rate of 7% through 2019 and sees a current 9-year production order book at 2013 delivery rates. Almost 70% of TITAL’s revenues are expected to come from commercial aerospace sales in 2019. In 2013, the company generated revenues of approximately $96M, more than half of which came from titanium products. The acquisition will establish titanium casting capabilities in Europe for Alcoa, while expanding its aluminum casting capacity. TITAL employs more than 650 people, primarily in Bestwig, Germany. Financial details of the transaction were not disclosed.
December 12, 2014
07:12 EDTHPQHP reinstated with a Buy at BofA/Merrill
Target $47.
December 11, 2014
14:02 EDTAAAlcoa plans $16.7M expansion to double high-tech coating capacity
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December 10, 2014
08:25 EDTHPQHP capital return potential makes valuation attractive, says Brean Capital
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December 9, 2014
16:00 EDTAAOptions Update; December 9, 2014
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December 8, 2014
07:28 EDTHPQFBN Securities to hold a bus tour
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December 7, 2014
15:53 EDTHPQHP shares could gain 15%, Barron's says
HP shares could gain 15% to $45.00 per share as the company splits its enterprise business from PCs and printer business, by next October, Barron's argues in a follow up article. Reference Link
December 5, 2014
06:38 EDTAAAlcoa Micromill unveils automotive alloy that is 40% more formable, 30% stronger
Alcoa unveiled breakthrough manufacturing technology, the Alcoa Micromill, that will manufacture the most advanced aluminum sheet on the market. Micromill produces automotive alloy that is 40% more formable and 30% stronger than incumbent aluminum, while meeting stringent automotive surface quality requirements. Alcoa Micromill reduces the time to transform molten metal into aluminum coil from 20 days to 20 minutes. Alcoa has secured a strategic development customer, and from its pilot Micromill facility in San Antonio, TX, has also conducted successful customer trials. Those trials have validated the Micromill material’s unique characteristics, surface quality for exterior panels and overall performance. Alcoa is qualifying the material for use in next-generation automotive platforms.
December 4, 2014
10:08 EDTAAOn The Fly: Analyst Initiation Summary
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08:44 EDTHPQCarbonite names Mohamad Ali as CEO
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07:06 EDTAAAlcoa initiated with an Outperform at Wells Fargo
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