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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
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July 22, 2014
06:17 EDTHPQGlobal notebook shipments to increase 4.3% in Q3, DigiTimes Research says
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05:55 EDTHPQStocks with implied volatility movement; NQ HPQ
Stocks with implied volatility movement; NQ Mobile (NQ) 169, Hewlett-Packard (HPQ) 28 according to iVolatility.
July 21, 2014
10:43 EDTHPQFormer Autonomy CFO challenges proposed HP settlement, Re/code reports
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07:15 EDTHPQO'Reilly to hold a conference
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July 17, 2014
16:13 EDTHPQHP appoints Whitman Chairman, Alcoa's Kleinfeld joins board
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12:15 EDTNTAPSanDisk plummets after Q3 revenue outlook disappoints
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06:28 EDTHPQHP increasing fire-safety audits in China, WSJ reports
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July 16, 2014
16:00 EDTHPQOptions Update; July 16, 2014
iPath S&P 500 VIX Short-Term Futures down 70c to 27.25. Option volume leaders: AAPL FB GOOG AMZN TWTR TSLA C HPQ TWX INTC AMZN according to Track Data.
09:37 EDTHPQActive equity options trading on open
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08:55 EDTHPQBarclays tech hardware analyst holds an analyst/industry conference call
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08:05 EDTHPQHP has positive read through from Intel results, says Pacific Crest
Pacific Crest has an upward bias on its estimates for HP (HPQ) following Intel's (INTC) positive comments on the PC market. The firm thinks that HP's stock could jump another 20% if enterprise PC fundamentals continue to improve. It keeps an Outperform rating on HP.
July 15, 2014
10:22 EDTNTAPNetApp expands cloud support with NPS for Azure, says Cantor
Cantor Fitzgerald believes the introduction of NetApp Private Storage for Microsoft Azure provides further validation to NetApp's expanding support for the cloud. The firm views NetApp as the leader amongst storage vendors for public cloud infrastructure. Cantor says the stock is "very inexpensive" and keeps a Buy rating on NetApp with a $45 price target.
08:37 EDTNTAPEquinix and NetApp expand cloud partnership
Equinix (EQIX), and NetApp (NTAP) announced that they are expanding their cloud partnership. The two companies now provide an expanded offering of private storage solutions for the public cloud including NetApp Private Storage for Microsoft Azure, through the Equinix Cloud Exchange, which makes connecting to the cloud simple and convenient.
08:09 EDTHPQRalph Whitworth taking leave of absence at Relational INvestors
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08:05 EDTHPQHP announces interim chairman Whitworth resigns for health reasons
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08:02 EDTHPQHP announces resignation of chairman Ralph Whitworth
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06:27 EDTHPQHP looks to crack tablet market in India with phablets, India Times reports
HP has aggressive plans to crack the tablet market in India by breaking into the phablet space, reports the India Times. The company's VP Ivy Liang said the company wants to "crack the right products in the phablet market" as it looks to expand its wings in the Indian market following the moderate success of HP Slate Voice Tabs. HP will now also explore telecom channels for the phablet go-to-market route. Reference Link
06:06 EDTHPQHP implied volatility of 21 at lower end of index mean range
July 14, 2014
11:21 EDTHPQHP added to short-term buy list at Deutsche Bank
08:34 EDTHPQPC market stability could be short-lived, Reuters says
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