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Stock Market & Financial Investment News

News Breaks
February 21, 2013
14:02 EDTHPQEarnings Preview: HP shares recover after $8.8B charge related to Autonomy deal
Hewlett-Packard (HPQ) is set to report Q1 earnings after the market close on Thursday, February 21, with a conference call scheduled for 5:00 pm ET. Hewlett-Packard is an IT company that provides hardware, software, and business and enterprise solutions... EXPECTATIONS: Analysts are looking for EPS of 71c on revenue of $27.79B, according to First Call. The consensus range for EPS is 68c-82c on revenue of $26.3B-$28.72B... LAST QUARTER: HP reported Q4 EPS of $1.16 against estimates for $1.14 on revenue of $29.96B against estimates for $30.34B. HP said it sees Q1 EPS ex-items 68c-71c against then estimates for 85c. HP affirmed its FY13 EPS view of $3.40-$3.60 against then estimates for $3.52; current FY13 EPS consensus is $3.49. In its Q4 report, HP said it was taking an $8.8B charge primarily related to its acquisition of UK-based software company Autonomy. The company said a majority of this charge was related to "serious accounting improprieties, disclosure failures and outright misrepresentations...that occurred prior to HP's acquisition of Autonomy." On December 27, HP said the Department of Justice had opened an investigation related to Autonomy, and on February 11 the Financial Reporting Council, the UK's accounting regulator, confirmed it was investigating Autonomy. Following Dell's (DELL) February 5 announcement that it was being taken private, HP released a statement saying it plans to take "full advantage" of any opportunities presented to the company as a result of Dell's deal. Since its Q4 report, reports of activist involvement in HP or a possible breakup of the company have circulated, though none of these reports have been publicly confirmed or denied... STREET RESEARCH: In the days following HP's Q4 results, shares were downgraded by at least four analyst firms. Following Dell's deal to be taken private, Jefferies said a takeover of HP is unlikely, and the firm maintains an Underperform rating on shares with a $10 price target. Wells Fargo issued a note in response to a story from Quartz that said HP's board was studying a breakup of the company, that said the firm thinks HP may spin off smaller units of the company, but that the PC or printer businesses are unlikely candidates to be spun off; Wells Fargo maintains a Market Perform rating on the stock. In a note earlier today, Sterne Agee maintained its Neutral rating on HP shares, saying that though shares remain inexpensive, continued pressure on HP's core businesses may reveal further downside in the stock... PRICE ACTION: Shares of HP are up over 26% since the first day of trading following its Q4 report. Shares of HP are up 0.6% in early afternoon trading ahead of its Q1 report.
News For HPQ From The Last 14 Days
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July 29, 2015
14:12 EDTHPQEarnings Watch: Hard drive makers report amid PC sector fears
Western Digital (WDC) and Seagate (STX) are expected to report quarterly results on July 29 and 31 with conference calls scheduled for 5:00 pm ET and 9:00 am ET, respectively. The two companies develop and manufacture computer storage solutions, including hard disk drives. EXPECTATIONS: Analysts are expecting Western Digital to report earnings per share of $1.45 on revenue of $3.25B, while Seagate is expected to report earnings per share of 64c on revenue of $2.92B. During its last earnings conference call, Western noted a "cautious" near-term outlook and forecast Q4 EPS to be $1.50-$1.60 on revenue of $3.3B-$3.4B. PRELIMINARY RESULTS: On July 13, Seagate reported preliminary Q4 revenue of $2.9B, adjusted gross margins of 27%, and 45M unit shipments, driven by what the company characterized as "lower than expected intra-quarter demand." The company had previously guided Q4 revenue to $3.2B-$3.3B, and analysts were looking for $3.19B in revenue at the time. LAST QUARTER: On April 17, Seagate reported Q3 adjusted EPS of $1.08 against expectations for $1.04, and revenue of $3.3B versus estimates of $3.4B. Following that, Western Digital reported Q3 EPS of $1.87 on April 28 versus estimates of $1.89, and revenue of $3.5B against expectations for $3.6B. NEWS: On May 1, Seagate announced plans to combine its Cloud Systems and Electronic Solutions groups, and on July 14, the company said it extended its alliance with HP (HPQ). STREET RESEARCH: On May 15, RBC called Western Digital shares "compelling" due to multiple near-term positive catalysts, though Morgan Stanley said on May 19 that it was just "cautiously optimistic" on Western because of softened growth expectations for the general PC market. On May 28, Goldman Sachs called fears of PC weakness overdone and upgraded Western Digital to Buy, saying the company's increasingly enterprise-heavy mix gives it a healthy long-term profit forecast. On June 12, Longbow reported that its hard drive price checks were not quite as bad as it had feared, adding that Western Digital's guidance appears achievable while Seagate's forecast appeared at risk. Heading closer to earnings, Citi said on July 2 that it expects somewhat weak quarterly results for the two hard drive giants but recommended buying both Western Digital and Seagate shares on any perceived post-earnings weakness. Stifel somewhat echoed that point on July 8, saying investor sentiment seemed overly negative towards Western, with traders potentially underestimating the company's shift towards enterprise products. Note that on July 23, Morgan Stanley said its June CIO survey indicated incremental enterprise IT budget weakness, leading the research firm to downgrade Western Digital to Equal Weight and drop Seagate two notches to Underweight. On the M&A front, Susquehanna said on May 29 that SanDisk (SNDK) remained an attractive takeover target, with Western Digital looking like a likely buyer. However, RBC and CLSA both raised doubts on June 5 about the possibility of such a deal. PRICE ACTION: Shares of Western Digital are up 1.34% to $78.83 ahead of Wednesday's report, while Seagate is up 0.84% to $49.28.
10:01 EDTHPQBox names Paul Chapman as Chief Information Officer
Box (BOX) announced that 25-year IT industry veteran Paul Chapman has joined the company as its Chief Information Officer, responsible for driving a broad range of IT initiatives to support the company’s more than 1,200 employees worldwide and customer base of 47,000 organizations. Chapman was most recently CIO of HP Software for Hewlett-Packard Company (HPQ).
July 28, 2015
16:24 EDTHPQHP to acquire Stackato business from ActiveState
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12:02 EDTHPQMicron, Intel to discuss technology similar to HP memristor, Hesseldahl says
Arik Hesseldahl of Re/code said on Twitter: "Intel and Micron are going to disclose technology similar to HP's memristor technology. It will be called: 3D XPoint" Reference Link
06:04 EDTHPQStocks with implied volatility above IV index mean; TWTR HPQ
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July 27, 2015
11:37 EDTHPQStratasys upgraded to Buy with $45 price target at Dougherty
Before the open, Dougherty analyst Andrea James upgraded Stratasys (SSYS) to Buy from Neutral and set a $45 price target on the stock, noting that the firm's North American channel checks indicate the sales climate has improved since the stock was downgraded in April. James also said that the pullback in the stock over that time frame leaves it trading at a "historically low P/E multiple" and that the firm believes HP (HPQ) will compete more directly with others in the 3D space than it will with Stratasys.
July 26, 2015
14:44 EDTHPQAmazon cloud sales signal risk for traditional data storage, Barron's says
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July 24, 2015
14:01 EDTHPQHP granted approval for shareholder settlement on Autonomy, Bloomberg reports
05:45 EDTHPQStocks with implied volatility movement; EXXI HPQ
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July 23, 2015
11:54 EDTHPQOptions with increasing call volume
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07:58 EDTHPQBrean Capital maintains Buy on EMC due to activist, merger potential
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July 21, 2015
14:24 EDTHPQEarnings Watch: EMC reports amid M&A speculation in sector
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07:52 EDTHPQHP announces renewable energy agreement with SunEdison
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06:19 EDTHPQSilicon Valley giants side with Samsung in battle with Apple, InsideSources says
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