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News Breaks
December 24, 2012
06:15 EDTHPQHewlett-Packard expected to axe staff at Autonomy unit, Daily Mail reports
Hewlett-Packard (HPQ) is expected to announce plans to cut staff at its Autonomy subsidiary, the Daily Mail reported this weekend. It has been suggested that up to 200 Autonomy staff could be let go, though sources close to HP say it will be fewer. Reference Link
News For HPQ From The Last 14 Days
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March 4, 2015
06:33 EDTHPQHP, IBM, others could be interested in Novetta, Reuters reports
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March 3, 2015
11:03 EDTHPQTelefónica selects HP OpenNFV platform for UNICA Infrastructure
At the 2015 Mobile World Congress, Telefónica (TEF) and HP (HPQ) announced that the telecommunications company has selected HP as the technology provider and systems integrator of the Telefónica Virtualization Infrastructure project, or UNICA. Telefónica will implement the end-to-end HP OpenNFV platform stack, including server, software, orchestration and networking technologies, carrier grade HP Helion OpenStack technology, services and expertise.
07:38 EDTHPQHP deal for Aruba Networks makes sense, says Brean Capital
Brean Capital said the HP (HPQ) deal for Aruba Networks (ARUN) is positive and makes sense as it will be accretive to earnings in the first year, it will add to HP's strategic offerings, and it should not impact HP's shareholder return profile. Brean Capital believes any weakness due to the acquisition would be a buying opportunity and reiterated its Buy rating and $45 price target on HP shares.
March 2, 2015
17:57 EDTHPQHP says Aruba Networks deal has $90M termination fee
The Merger Agreement contains specified termination rights for HP (HPQ) and Aruba (ARUN), including in the event that the Merger is not consummated by February 28, 2016. Aruba will be required to pay HP a $90M termination fee in the event that the Merger Agreement is terminated by HP following a change of recommendation by Aruba’s board of directors or if Aruba terminates the Merger Agreement to enter into an agreement with respect to a proposal from a third party that is superior to HP’s, in each case, as is more particularly described in the Merger Agreement. Under certain additional circumstances described in the Merger Agreement, Aruba will also be required to pay HP a termination fee of $90M if the Merger Agreement is terminated and, within twelve months following such termination, Aruba enters into an agreement for a business combination transaction of the type described in the relevant provisions of the Merger Agreement, or such a transaction is consummated.
09:54 EDTHPQHP has areas of need more pressing than networking, says Cantor
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08:37 EDTHPQAruba Networks volatility elevated into HP acquiring for $3B
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08:36 EDTHPQHP confirms deal to acquire Aruba Networks for $24.67 per share
HP (HPQ) confirmed it has reached a definitive agreement to acquire Aruba Networks (ARUN), a provider of network access solutions for the mobile enterprise, for $24.67 per share in cash. The equity value of the transaction is approximately $3B, and net of cash and debt approximately $2.7B. HP and Aruba believe that by combining complementary product portfolios and go-to-market approaches they will be able to accelerate revenue growth and strengthen the financial performance of the combined HP Networking business, and create a leading competitor in the $18 billion and growing campus networking sector. Overall, HP expects the acquisition to be accretive to earnings in the first full year following close. The transaction is expected to close in the second half of HP's fiscal year 2015. Bloomberg first reported on February 25 that Aruba Networks was in talks to be acquired by Hewlett-Packard. Craig-Hallum said after Bloomberg's report that Ruckus Wireless (RKUS) would remain a likely takeout target if HP acquired its competitor Aruba. Aruba Network shares are down 2% in pre-market trading after the deal was confirmed, while Ruckus shares are fractionally higher.
08:34 EDTHPQHP sees Aruba Networks acquisition accretive to earnings in first full year
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08:32 EDTHPQHP to acquire Aruba Networks for $24.67 per share in cash
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08:31 EDTHPQHP to acquire Aruba Networks for $24.67 per share in cash
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February 27, 2015
16:22 EDTHPQStocks have another winning week after Greek deal, Yellen reassurance
Stocks ended higher this week after the euro zone sealed its deal to extend Greece's bailout and Fed chair Janet Yellen reiterated that the central bank would take a patient approach to raising interest rates. MACRO NEWS: Last Friday afternoon, Greece reached a framework deal with its euro zone partners to extend its bailout by four months, contingent on a reform proposal being accepted. The proposals were accepted by the EU early this week... In testimony before Congress, Janet Yellen reiterated that the Federal Reserve can remain patient in deciding when to hike interest rates... U.S. economic data was mixed, as the Q4 GDP growth revision, durable goods orders for January, and an index of consumer sentiment beat expectations, but weekly jobless claims and existing home sales for January missed expectations... Somewhat positive economic data came out of China, as the flash HSBC/Markit Purchasing Managers' Index was 50.1, representing a four month high. However, China's export orders declined at the fastest rate in 20 months. COMPANY NEWS: Drug maker Valeant (VRX) agreed to buy Salix (SLXP), which develops gastrointestinal products, for $158 per share. In another development on the M&A front, Bloomberg reported that HP (HPQ) is in talks to make its biggest acquisition in several years by potentially acquiring Aruba Networks (ARUN), which provides Wi-Fi products. Additionally, PTC Therapeutics (PTCT) rose after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN)... Solar energy company SunPower (SPWR) was one of this week's big winners after its quarterly results topped expectations, and the company announced that it's in advanced talks to form a joint YieldCo vehicle with peer First Solar (FSLR). First Solar also rallied after the news... Among the noteworthy losers this week was Lumber Liquidators (LL), after the company reported Q4 earnings per share and revenue that missed consensus expectations. The flooring retailer also warned on its associated call that an upcoming "60 Minutes" piece may cast the company in an unfavorable light and disclosed in its annual report that the Department of Justice indicated in recent communications that it is contemplating seeking criminal charges under the Lacey Act... Companies that rose after reporting their quarterly results included Home Depot (HD) and Gap (GPS), while HP, TASER (TASR), and J.C. Penney (JCP) dropped after reporting their results. INDEXES: For the week, the Dow was down 0.04% to 18,132.70, the Nasdaq was up 0.15% to 4,963.53, and the S&P 500 was down 0.27% to 2,104.50.
February 26, 2015
10:20 EDTHPQRuckus Wireless will be in play if HP acquires Aruba, says Craig-Hallum
Craig-Hallum said Ruckus Wireless (RKUS) remains a likely takeout target following reports Hewlett-Packard (HPQ) may acquire competitor Aruba Networks (ARUN). Analyst Tony Stoss said if Hewlett is looking at Aruba, it should absolutely look at Buy rated Ruckus, which would also pressure Cisco (CSCO) to take a hard look at the company. Stoss says Ruckus has superior technology and exposure to the high growth service provider market with numerous catalysts ahead to drive shares higher.
09:18 EDTHPQAruba Networks could be acquired for $28 per share, says SunTrust
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07:17 EDTHPQAruba would seek takeover price of $23-$27 per share, says JMP Securities
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February 25, 2015
16:38 EDTHPQOn The Fly: Closing Wrap
The Wall Street averages had a relatively quiet open and remained in a tight range for most of the session. The market moved to the high end of its range by mid-afternoon, which pushed the Dow and S&P to new highs and the Nasdaq ever closer to its 5,000 level. There was little momentum behind the move and the averages eventually faded, closing nearly unchanged for the session. ECONOMIC EVENTS: In the U.S., new home sales slipped 0.2% to a 481K annual pace in January, which was better than the expected 2.3% decline to a 471K rate. The DOE petroleum inventory report showed crude stockpiles grew by 8.4M barrels in the week of February 20, versus expectations for a 4M barrel increase. In China, HSBC and Markit's flash purchasing managers' index for February came in at 50.1, which was above the consensus outlook of 49.7 and represented a four month high. COMPANY NEWS: Shares of Hewlett-Packard (HPQ) dropped $3.82, or 9.92%, to $34.67 after the PC, printer and server maker reported lower than expected Q1 revenue and cut its FY15 EPS view and free cash flow outlook, citing separation costs and foreign exchange headwinds. However, analysts at Citigroup, Bernstein, and Brean Capital all recommended buying the stock on weakness in separate notes to investors today. Later in the day, Bloomberg reported, citing sources, that HP is in talks to make its biggest acquisition in several years by potentially acquiring Aruba Networks (ARUN), sending shares of the WiFi equipment maker up $3.86, or 21.0%, to $22.24. Shares of Aruba competitor Ruckus Wireless (RKUS) also gained 66c, or 5.89%, to $11.86 after Bloomberg's report on potential M&A in their space... Chesapeake Energy (CHK) slid $1.90, or 9.56%, to $17.98 after reporting worse than expected earnings amid the recent plunge in energy prices and announcing lower capital spending plans for 2015. MAJOR MOVERS: Among the notable gainers was Benefitfocus (BNFT), which jumped $10.85, or 47.24%, to $33.82 after reporting Q4 earnings and disclosing that Marsh & McLennan (MMC) subsidiary Mercer took a 9.9% stake in the company. Also higher was SFX Entertainment (SFXE), which gained $1.09, or 29.46%, to $4.79 after the company’s Chairman and CEO, Robert Sillerman, offered to acquire all of the outstanding shares of common stock of the company not already owned by him for $4.75 per share in cash. SFX Entertainment confirmed that it received the proposal and established a special committee to review and negotiate the nonbinding offer. Among the noteworthy losers was Lumber Liquidators (LL), which plunged $18.15, or 26.39%, to $50.63 after reporting Q4 earnings per share and revenue that missed consensus expectations, warning on its associated call that an upcoming "60 Minutes" piece may cast the company in an unfavorable light, and disclosing in its annual report that the Department of Justice indicated in recent communications that it is contemplating seeking criminal charges under the Lacey Act. Also lower following their earnings reports were shares of Republic Airways (RJET), which fell $2.17, or 14.49%, to $12.81, and LendingClub (LC), which dropped $3.14, or 13.28%, to $20.51. INDEXES: The Dow added 15.38, or 0.08%, to 18,224.57, the Nasdaq slipped 0.98, or 0.02%, to 4,967.14, and the S&P 500 dropped 1.62, or 0.08%, to 2,113.86.
15:40 EDTHPQAruba Networks a strong takeout candidate, says Northland
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15:07 EDTHPQAruba Networks in talks to be acquired by Hewlett-Packard, Bloomberg says
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15:04 EDTHPQAruba Networks jumps 10.5%, halted after report on HP takeover talks
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15:03 EDTHPQAruba Networks in talks to be bought by Hewlett-Packard, Bloomberg says
12:31 EDTHPQOn The Fly: Midday Wrap
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