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Stock Market & Financial Investment News

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 15, 2014
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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October 10, 2014
17:29 EDTHPQSilver Lake said to shelve effort to buy Shutterfly, Snapfish, Bloomberg says
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17:14 EDTHPQMarket ends week lower amid global growth worries
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16:58 EDTHPQSilver Lake said to shelve effort to buy Shutterfly, Snapfish, Bloomberg says
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10:01 EDTHPQOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
October 9, 2014
16:59 EDTHPQJefferies initiates IT Hardware space, names Western Digital top pick
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16:21 EDTHPQHP initiated with a Hold at Jefferies
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11:13 EDTHPQHP management to meet with Oppenheimer
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08:53 EDTHPQAbout 1,000 workers went on strike for several hours at Foxconn plant, WSJ says
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07:34 EDTHPQHP has room to grow, gave conservative guidance, says Brean Capital
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06:55 EDTHPQAnalyst says PC company likely to get much of HP debt, Re/code reports
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06:52 EDTHPQTechnology producer settles China facility demonstrations, Reuters says
Hon Hai Precision Industry confirmed that it had settled a demonstration which involved close to 1K staff members at its Chongqing plant in China, and noted that manufacturing at the facility was not affected by the strike, according to Reuters, citing a statement from the company. Hon Hai constructs Apple (AAPL) products, as well as HP (HPQ) and Cisco (CSCO) computers and servers. The Chongqing facility isn't listed by Apple as one of its certified suppliers. Reference Link
06:29 EDTHPQIDC: Worldwide PC shipments down 1.7% in Q3, DigiTimes reports
Worldwide PC shipments are down 1.7% with 78.5M units shipped in Q3, reports DigiTimes, citing the IDC. Shipments in the US grew 4.3% to 17.3M, with growth centered from strong momentum in te portables category. Reference Link
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