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Stock Market & Financial Investment News

News Breaks
May 22, 2014
11:56 EDTNTAP, HPQEarnings 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
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December 21, 2014
13:53 EDTHPQHP denied court approval for Autonomy deal investor settlement, Bloomberg says
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December 19, 2014
18:54 EDTHPQHP, Autonomy shareholder settlement rejected by Judge, Bloomberg says
This is the second time the settlement was rejected, Bloomberg added.
December 17, 2014
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 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.
December 12, 2014
07:12 EDTHPQHP reinstated with a Buy at BofA/Merrill
Target $47.
December 10, 2014
10:00 EDTNTAPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with an Underperform at Longbow... AutoZone (AZO) initiated with a Buy at Nomura... C.H. Robinson (CHRW) initiated with a Neutral at Nomura... CSX (CSX) initiated with a Buy at Nomura... CVS Health (CVS) initiated with a Neutral at Citigroup... Canadian National (CNI) initiated with a Neutral at Nomura... Carrizo Oil & Gas (CRZO) initiated with a Buy at Canaccord... CenterPoint Energy (CNP) initiated with a Neutral at Nomura... Con-way (CNW) initiated with a Neutral at Nomura... Cornerstone OnDemand (CSOD) initiated with a Buy at BofA/Merrill... Depomed (DEPO) initiated with an Outperform at RBC Capital... Dollar General (DG) initiated with a Buy at Citigroup... Dollar Tree (DLTR) initiated with a Neutral at Citigroup... Dynagas LNG (DLNG) initiated with a Buy at ABN Amro... EMC (EMC) initiated with a Neutral at JPMorgan... Energy Focus (EFOI) initiated with a Buy at Roth Capital... Expeditors (EXPD) initiated with a Neutral at Nomura... GasLog (GLOG) initiated with a Buy at ABN Amro... Genesee & Wyoming (GWR) initiated with a Neutral at Nomura... Golar LNG (GLNG) initiated with a Sell at ABN Amro... HII Technologies (HIIT) initiated with a Buy at Roth Capital... Hudbay Minerals (HBM) initiated with an Overweight at Barclays... J.B. Hunt (JBHT) initiated with a Buy at Nomura... Kansas City Southern (KSU) initiated with a Buy at Nomura... Kroger (KR) initiated with a Buy at Citigroup... Lear (LEA) initiated with a Buy at Northcoast... Lundin Mining (LUNMF) initiated with an Overweight at Barclays... NetApp (NTAP) initiated with a Neutral at JPMorgan... Norfolk Southern (NSC) initiated with a Neutral at Nomura... PROS (PRO) initiated with an Outperform at Pacific Crest... Qlik Technologies (QLIK)initiated with a Buy at BofA/Merrill... Rentokil (RTOKY) initiated with a Neutral at UBS... Revolution Lighting (RVLT) initiated with a Buy at Roth Capital... ServiceNow (NOW) initiated with a Buy at BofA/Merrill... Stratasys (SSYS) initiated with a Neutral at Longbow... Suburban Propane (SPH) initiated with a Hold at Stifel... Tableau (DATA) initiated with a Buy at BofA/Merrill... Teekay LNG (TGP) initiated with a Buy at ABN Amro... Tessera (TSRA) initiated with a Buy at Sidoti... Union Pacific (UNP) initiated with a Buy at Nomura... Viper Energy (VNOM) initiated with a Buy at Stifel... Visteon (VC) initiated with a Buy at Northcoast... Walgreen (WAG) initiated with a Buy at Citigroup... Werner (WERN) initiated with a Neutral at Nomura.
08:25 EDTHPQHP capital return potential makes valuation attractive, says Brean Capital
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07:39 EDTNTAPBMO Capital to hold a conference
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06:36 EDTNTAPNetApp initiated with a Neutral at JPMorgan
JPMorgan sees a lack of catalysts for storage earnings in 2015 and views the valuations of both NetApp (NTAP) and (EMC) as full at current levels. The firm started shares of both companies with Neutral ratings. It has a $43.50 price target for NetApp shares.
December 8, 2014
07:32 EDTNTAPRaymond James to hold a conference
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07:28 EDTNTAP, HPQFBN Securities to hold a bus tour
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