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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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May 20, 2015
17:50 EDTNTAPNetApp management sees return to growth trajectory in second half of FY16
Management sees a year of strong cash flow generation. OEM revenue ended at less than 10% of FY15 net revenues and normalized to a level of revenue that the company will no longer discuss separately. Management stated that the company is well positioned for the era of cloud computing. Management stated that the company expects to reduce its share count by another 5%. Management stated that it sees operating margins back in range in second half. Comments made during Q4 earnings conference call.
16:20 EDTNTAPNetApp raises quarterly dividend by 9% to 18c per share
NetApp increased the 1Q16 dividend by 9% to 18c per share. The dividend will be paid on July 23, to shareholders of record as of the close of business on July 10.
16:13 EDTNTAPNetApp down 6.3% after reporting Q4 results
16:11 EDTNTAPNetApp sees Q1 EPS 20c-25c, may not compare to consensus 60c
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16:09 EDTNTAPNetApp reports Q4 EPS 65c, consensus 72c
Reports Q4 revenue $1.54B, consensus $1.59B.
15:00 EDTNTAPNotable companies reporting after market close
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14:08 EDTNTAPNetApp technical comments ahead of earnings
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13:37 EDTNTAPEarnings Watch: Analysts concerned with competition hurting NetApp results
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08:45 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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May 19, 2015
15:38 EDTNTAPNetApp May volatility elevated into Q4 and outlook
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12:55 EDTHPQPC related stocks struggle after Morgan Stanley says PC turn won't come until Q3
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07:41 EDTNTAPNetApp May volatility elevated into Q4 and outlook
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06:36 EDTHPQHP sued by MicroTech for $16.5M for 'unfairly taking advantage'
In a lawsuit filed Monday with the United States District Court for the Northern District of California in San Francisco, Virginia technology company MicroTech accuses Hewlett Packard and the software maker it now owns, Autonomy, of unfairly taking advantage by refusing to return $16.5M in cash paid to Autonomy for software never delivered in a fashion where it could be re-sold. During a national telephonic press conference, Lanny J. Davis, a Washington, D.C. attorney advising MicroTech, described the core allegation in the breach of contract case filed against HP: "Regardless of whether HP was defrauded by Autonomy, or whether HP's over-payment for Autonomy was a product of a possible due diligence failure, in my opinion, HP is not entitled to keep both MicroTech's money AND Autonomy's software that MicroTech duly purchased," Davis said.
06:24 EDTHPQHP to sell controlling stake in H3C unit to Tsinghua Unigroup, Reuters reports
HP will sell its 51% stake in H3C, its China-based computing unit, to Tsinghua Unigroup, Reuters reports, citing comments from a spokesperson for the Chinese private-equity fund's parent company. Terms have not been disclosed, but the spokesperson says he believes the deal will be completed in the coming days. Reference Link
May 18, 2015
14:15 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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May 15, 2015
11:00 EDTHPQHewlett-Packard volatility elevated into Q2 and outlook
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07:40 EDTHPQHP split to be positive catalyst, says Deutsche Bank
Deutsche Bank believes HP's split will be a positive catalyst for shares this year. It views the stock as attractively priced ahead of the Q2 results on May 21 and says HP remains a top pick for 2015. Deutsche has a Buy rating on the name with a $45 price target.
May 14, 2015
09:40 EDTHPQHP upgraded to Buy from Hold at Cross Research
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06:24 EDTNTAPCiti expects 'lukewarm' Q4 results from NetApp
Citigroup expects NetApp to report "lukewarm" Q4 results on Wednesday amid "soft" underlying storage demand and "modest" currency pressure. The company's sales and earnings are likely to be in-line to a slight miss relative to consensus, Citi believes. The firm says that while the stock's valuation "looks interesting," it keeps a Neutral rating on the name with a $39 price target.
06:15 EDTHPQHP Q2 sales weakness largely expected, says Citigroup
Citigroup believes HP's Q2 revenue on May 21 could miss the consensus expectation of $25.8B due to PC weakness and currency pressure. Citi thinks sales weakness is largely expected, however. The firm says HP shares "will start to work again" as management will likely address and quantify the additional costs of operating as two separate companies. Uncertainty around the size of the dis-synergy costs has been a key factor behind the stock's recent underperformance, Citi believes. It keeps a Buy rating on HP with a $41 price target.
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