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News Breaks
August 20, 2014
13:42 EDTHPQ, AUTNFEarnings Preview: Analysts view HP positively ahead of Q3 earnings report
Hewlett-Packard (HPQ) is set to report third quarter earnings after the market close on Wednesday August 20, with a conference call scheduled for 5:00 pm ET. Hewlett-Packard is a diversified IT company that provides hardware, software, and business and enterprise solutions to personal and corporate customers. EXPECTATIONS: Analysts are looking for earnings of 89c per share on revenue of $27.01B, according to First Call. The consensus range for EPS is 86c-90c on revenue of $26.50B-$27.49B. In its second quarter earnings release, HP said it sees Q3 adjusted EPS 86c-90c and FY14 adjusted EPS $3.63-$3.75, both of which were in-line with expectations. LAST QUARTER: HP reported Q2 EPS of 88c against estimates for 88c on revenue of $27.3B against estimates for $27.4B. Personal Systems revenue was up 7% year-over-year with a 3.5% operating margin. Enterprise Group revenue for the quarter was down 2% year-over-year with a 14.4% operating margin. HP also reported Q2 cash flow from operations of $3.0B. COMPANY NEWS: On May 31, HP announced that it reached an agreement to settle shareholder derivative litigation arising from the acquisition of Autonomy (AUTNF). The company announced on July 15 that its interim chairman, Ralph Whitworth, resigned from its board of directors to focus on his health. The next day, HP named CEO Meg Whitman chairman. The Justice Department announced on August 1 that HP agreed to pay $32.5M to resolve allegations under the False Claims Act that HP overcharged the U.S. Postal Service for products between October 2001 and December 2010. The U.S. alleged that under a contract between HP and the USPS, HP overcharged USPS by "failing to comply with pricing terms of the contract, including a requirement that HP provide prices that were no greater than those offered to HP customers with comparable contracts." STREET RESEARCH: After HP announced more layoffs, Wells Fargo noted on May 23 that HP said it was more confident in its growth outlook, and the firm thought the layoffs could reflect newly discovered cost cutting opportunities, rather than end market pressures. Wells continued to expect the company to grow in FY15 and kept an Outperform rating on the shares. On June 12, Goldman Sachs upgraded its rating on HP to Neutral from Sell saying the company's management executed a turnaround far more effectively than it anticipated. Goldman was more positive on HP's turnaround following the company's Discover event in Las Vegas and it raised its price target for shares to $32 from $25. Deutsche Bank said on July 8 that shares of HP were adequately reflecting the company's innovation and increased R&D investment. Deutsche noted HP's new product introductions were up nearly two times versus three years ago. The firm viewed the stock as attractively valued and reiterated a Buy rating on HP with a $40 price target. Monness Crespi upgraded HP from Buy to Neutral on August 18. PRICE ACTION: Since the first day of trading following HPs Q2 report on May 22, shares have risen approximately 8.5%. Over the past year, shares have increased over 33%. During late morning trading, shares of HP were down 32c, or 0.9%, to $35.16.
News For HPQ;AUTNF From The Last 14 Days
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October 20, 2014
12:09 EDTHPQIBM hits 52 week low after earnings miss, 2015 profit target dropped
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10:25 EDTHPQIBM CEO says company already has been aggressive on changing
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October 17, 2014
06:24 EDTHPQStocks with implied volatility below IV index mean; HPQ NFLX
Stocks with implied volatility below IV index mean; HP (HPQ) 31, Netflix (NFLX) 40 according to iVolatility.
06:24 EDTHPQGlobal notebook shipments estimated at over 45M units, Digitimes Research says
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06:21 EDTHPQHP dismisses concerns about drop in global notebook market share, DigiTimes says
HP has dismissed concerns from Taiwan supply chain makers that say the company's global notebook market share may drop significantly following the split, reports DigiTimes. According to makers, HP said it will maintain notebook operations with 2015 target shipments of at least 31M units. Reference Link
October 16, 2014
07:21 EDTHPQHP split-up speaks to value of businesses, says Brean Capital
Brean Capital thinks the HP plan to split into two companies speaks to the inherent value of its businesses. The firm believes the split could be a beginning, with the next phase consisting of M&A activity. Brean Capital maintains its Buy rating and $45 price target on HP shares.
October 15, 2014
12:36 EDTHPQOn The Fly: Midday Wrap
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10:02 EDTHPQOn The Fly: Analyst Downgrade Summary
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09:20 EDTHPQOn The Fly: Pre-market Movers
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08:15 EDTHPQHP resumes buyback with EMC merger talks reportedly over
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08:08 EDTHPQHP up 1% to $32.60 after resuming buyback, reaffirming outlook
08:07 EDTHPQHP reaffirms outlook for FY14, FY15
HP reaffirms its FY14 estimate of non-GAAP EPS to be in the range of $3.70-$3.74, which excludes after-tax costs of approximately $1.10 per share, related primarily to restructuring charges and amortization of intangible assets. The consensus estimate is $3.73. For FY15, HP reaffirms its estimate of non-GAAP EPS to be in the range of $3.83-$4.03, which excludes after-tax costs of approximately 60c per share, related primarily to amortization of intangible assets and restructuring charges. The consensus estimate is $3.94. HP reaffirms its FY15 operating cash flow outlook of $10B-$10.5B, with free cash flow of $6.5B-$7B.
08:04 EDTHPQHP resumes share repurchase program under current authorization
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08:03 EDTHPQHP announces resumption of share buyback program
06:32 EDTHPQTablet supply chains expect lagging orders in Q4, DigiTimes reports
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06:14 EDTHPQHP, EMC halt merger agreement discussions, Reuters says
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October 14, 2014
07:47 EDTHPQHP awarded $50M Medicaid contract extension by Massachusetts
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October 13, 2014
11:46 EDTHPQHP nears six-month lows, levels to watch
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09:23 EDTHPQHP could buy lower valuation company, says Bernstein
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09:21 EDTHPQOn The Fly: Pre-market Movers
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