New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 22, 2014
11:56 EDTHPQ, NTAPEarnings Preview: Analysts view HP positively ahead of Q2 earnings report
Hewlett-Packard (HPQ) is set to report second quarter earnings after the market close on Thursday, May 22, 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 88c per share on revenue of $27.41B, according to First Call. The consensus range for EPS is 85c-91c on revenue of $26.94B-$28.17B. In its Q1 earnings release, HP said it sees Q2 adjusted EPS 85c-89c and FY14 adjusted EPS $3.60-$3.75, both of which were in-line with expectations. LAST QUARTER: HP reported Q1 EPS of 90c against estimates for 84c on revenue of $28.2B against estimates for $27.19B. HP reported personal systems revenue rose 4% during the quarter against the prior year, while enterprise Group revenue rose 1% over the prior year. HP also reported $3B in cash flow from operations in the first quarter and exited the quarter with $16.4B in gross cash. COMPANY NEWS: HP raised its quarterly dividend by 10.2% to 16c per share on March 20. The company said that the increase in the dividend would be effective when the company's board declares HP's next dividend, which was expected to occur in May. The U.S. Department of Defense's Defense Manpower Data Center awarded a five-year task order worth up to $548M to HP Enterprise on March 5. On April 9, HP announced a resolution of a U.S. Department of Justice and U.S. SEC investigation of potential violations of the Foreign Corrupt Practices Act. HP said it would pay approximately $108M to these two U.S. government agencies and that it agreed to undertake certain compliance, reporting and cooperation obligations. HP Enterprise announced on April 22 that the Colorado Department of Health Care Policy and Financing signed a $116.9M contract for the company to implement a new Medicaid Management system. On May 7, Reuters reported that HP was planning to invest over $1B over the next two years to create and offer cloud-computing products and services and cited statements from the company's Chief Technology Officer Martin Fink. STREET RESEARCH: Wall Street research was generally positive on HP during the quarter, with firms positively receiving the company with upgrades. On February 20, Argus upgraded HP to Buy from Hold based on what it sees as the company's strong cash generation trends and signs that the company's positive top-line and bottom-line comparisons can be sustained going forward. Barclays upgraded HP to Overweight from Equal Weight citing the company's improved free cash flow and expectations it will gain market share in x86 servers over the next several quarters. The firm raised its price target for shares to $38 from $33. On April 29, Pacific Crest upgraded HP to Outperform from Sector Perform citing increased confidence in the company's profit recovery due to expanding margins, enterprise share gains and stabilizing PC trends. The firm set a $37 price target for shares. Brean Capital raised its price target on Hewlett-Packard to $40 from $34 on May 19 as they feel guidance is achievable, the company can find additional cost savings and the company will still use its free cash flow to buy back stock. Brean Capital maintained its Buy rating on the shares. On May 20, however, Citigroup believed that both NetApp (NTAP) and HP "will be challenged" to meet April quarter revenue expectations, but may be able to reach earnings projections due to cost controls. Citi expects HP to reiterate its FY15 earnings outlook and has a Buy rating on HP. PRICE ACTION: Since the first day of trading following HPs first quarter report on February 20, shares have risen approximately 8.5%. Over the past year, shares have increased over 55%. During late morning trading, shares of HP are up 1.57% to $33.03.
News For HPQ;NTAP From The Last 14 Days
Check below for free stories on HPQ;NTAP the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
August 14, 2014
10:05 EDTNTAPOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
07:44 EDTNTAPNetApp 'undervalued and underappreciated,' says Pacific Crest
Subscribe for More Information
07:33 EDTNTAPNetApp price target raised to $45 from $42 at Brean Capital
Brean Capital raised its price target on NetApp to $45 from $42 following its Q1 results, citing gross margins improvement and higher OEM revenues. The firm keeps its Buy rating on NetApp.
06:47 EDTNTAPNetApp upgraded to Buy from Hold at Needham
Subscribe for More Information
06:39 EDTNTAPNetApp product cycle bottomed in Q4, says Cantor
Cantor Fitzgerald believes NetApp's product cycle bottomed in Q4 after the company reported upside in Q1 and issued a "healthy" outlook for Q2. Cantor sees "excellent execution" by NetApp and a slightly improved spending environment. The firm raised its price target for shares to $47 from $45 and keeps a Buy rating on the stock.
06:37 EDTNTAPNetApp price target raised to $46 from $42 at Piper Jaffray
Subscribe for More Information
06:09 EDTHPQGoogle, HP in talks to collaborate on 'virtual assistant,' The Information says
Subscribe for More Information
August 13, 2014
18:26 EDTNTAPNetApp says seeing rebound in enterprise spending in U.S.
Says seeing momentum in key business areas and expects it to continue through FY15. Says feels "really good" about flash portfolio. Says it has been major part of company's momentum. Says seeing a broader range of products being sold. Expects to continue to generate strong cash flow. Comments from Q1 earnings conference call.
17:43 EDTNTAPNetApp sees FY15 EPS growth just under 10%, consensus $2.96
Subscribe for More Information
16:02 EDTNTAPNetApp sees Q2 adjusted EPS 66c-71c, consensus 69c
Subscribe for More Information
16:01 EDTNTAPNetApp reports Q1 EPS 60c, consensus 57c
Subscribe for More Information
15:05 EDTNTAPNotable companies reporting after market close
Subscribe for More Information
11:20 EDTNTAPNetApp technical comments ahead of earnings
In the prior three months the stock has outperformed the broader averages, trading up over 12.8%. The trend has been decidedly bullish in this interval without much volatility. This suggests investors and traders are comfortable with the company's prospects and the absence of a substantial short-base reinforces that outlook. When we look at a longer-term chart, it is apparent that the last three months has been a nearly symmetrical but inverse move of the previous quarter. A level that stands out clearly as a result of this six-month long dip and recovery is at $40. The stock would be back on a more neutral technical basis if it can retake and build on a move above the $40 level. And that would given the current price at $39.26 be an easy move if the fundamental news supports it. Additional resistance levels above $40 are at $41.57 and then at $44.32. Both of those levels are prior pivot points on a closing basis. If the news disappoints there are some well-defined levels from the last six months that could become downside objectives. A risk is that without much of a short-base, downside moves could be more extreme. On a scale of increasing disappointment, supports are at $38.12, $36.38, $35, and $33.72.
07:55 EDTHPQHP free cash flow upside thesis intact, says Brean Capital
Subscribe for More Information
August 12, 2014
10:31 EDTHPQEx-Autonomy CFO accuses HP of agreement cover-up, Re/code says
Subscribe for More Information
07:13 EDTNTAPNetApp shares remain inexpensive, says Cantor
Subscribe for More Information
August 11, 2014
15:24 EDTHPQBloomberg to hold a summit
Silicon Valley 2014 Cybersecurity Summit to be held in Palo Alto, California on August 12.
August 8, 2014
08:32 EDTNTAPVMware, others could benefit from increased cloud adoption, says Pacific Crest
Subscribe for More Information
August 7, 2014
11:30 EDTNTAPNetApp August volatility elevated into Q1 and outlook
NetApp August call option implied volatility is at 42, September is at 35, December is at 28; compared to its 26-week average of 29 according to Track Data, suggesting large near term price movement into the expected release of Q1 on August 13.
08:27 EDTNTAPNetApp price target raised to $46 from $41 at Pacific Crest
Pacific Crest raised its price target on NetApp as the firm thinks the stock will be boosted by improving demand fundamentals and conservative Street expectations. The firm's checks indicate that the company's order pipelines are building, while its fundamentals have improved slightly. Pacific Crest does not think that the improvement is reflected in consensus estimates, and it keeps an Outperform rating on the shares.
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use