HP Inc. (HPQ) - NYSE
  • Oct. 12, 2012, 6:01 PM

    Infosys (INFY -7.6%) isn't just seeing weak demand from Europe and the U.S., but also from China, says Americas chief Ashok Vemuri, who blames the Middle Kingdom's growth slowdown and leadership transition. IT services peers such as IBM, HPQ, WIT, CTSH, and ACN won't be happy to hear that. Also, during Infosys' FQ2 earnings call, CEO S.D. Shibulal admitted higher contracting costs have affected buying activity. (FQ2 results) (guidance) (HPQ on China)

    | Oct. 12, 2012, 6:01 PM
  • Oct. 10, 2012, 5:32 PM

    More on Gartner's PC data: Lenovo (LNVGY.PK) passed H-P (HPQ) to become the world's top PC OEM - the former's global share rose 260 bps Y/Y to 15.7%, while the latter's fell 150 bps to 15.5%. Dell's (DELL) global share fell 70 bps to 10.5%, while Apple's (AAPL) U.S. share rose 110 bps to 13.6%. One more troubling piece of info: Gartner doesn't think professional sales were hurt much by Windows 8 anticipation, since most companies plan to take their time to adopt the OS. Update: IDC believes H-P remains on top for now, while estimating industry shipments fell 8.6%.

    | Oct. 10, 2012, 5:32 PM | 3 Comments
  • Oct. 10, 2012, 5:25 PM
    PC shipments fell a stunning 8.3% Y/Y in Q3, estimates Gartner - that figure makes Q2's 0.1% drop look great by comparison, and is raising eyebrows even with all of the negative industry data that has emerged. Weak back-to-school sales and cautious retailer orders are blamed, though the tablet market's growth is hard to overlook. U.S. shipments -13.8% Y/Y (both consumer and corporate sales were weak), EMEA -8.7%, and Asia-Pac -5.6% (China's slowing growth had an effect).
    | Oct. 10, 2012, 5:25 PM | 15 Comments
  • Oct. 8, 2012, 2:43 PM

    With its multiples having reached deep-value territory, UBS' Steve Milunovich thinks a breakup of H-P (HPQ -1.2%) is not only desirable, but likely, and that Bill Hewlett and Dave Packard would support it. He assigns H-P a breakup value of $20+, arguing (among other things) its PC and printing ops still have value, and its enterprise hardware unit is being "revitalized." But with no signs of H-P's heavily-criticized management supporting a breakup, Milunovich maintains a Sell rating. (more)

    | Oct. 8, 2012, 2:43 PM | 2 Comments
  • Oct. 5, 2012, 6:13 PM

    "[HP's] balance sheet is a mess, says Sterne Agee's Shaw Wu, who joined other analysts in downgrading the IT giant following its analyst day warning. Though H-P (HPQ -1.4%) officially has a book value of $16/share, Wu suggests it's actually -$2/share after backing out goodwill. Wu's sum-of-the-parts analysis of H-P produces a bull-case valuation of $15/share, but he thinks $10/share is more reasonable. Argus also downgraded H-P, and suggested its job cuts need to go beyond 29K.

    | Oct. 5, 2012, 6:13 PM | 7 Comments
  • Oct. 4, 2012, 6:22 PM
    Moody's responds to H-P's (HPQ) poor FY13 guidance by placing the IT giant's debt ratings, which vary based on debt type, under review for possible downgrade. Though noting H-P is still producing healthy free cash flow, Moody's is on edge over whether the company can stabilize its business and pay down debt while improving its "competitive profile." UBS recently noted CDS prices for H-P's debt have risen sharply, and suggested H-P split off its financial services arm to lower its $20B debt load.
    | Oct. 4, 2012, 6:22 PM | 2 Comments
  • Oct. 4, 2012, 10:30 AM

    H-P (HPQ -3.8%) falls again today after the sell-side response to yesterday's analyst day remarks and guidance proves as harsh as you'd expect. Barclays thinks H-P's dismal Enterprise Services guidance "highlights structural issues" unique to the company, and notes FY13 free cash flow guidance is well below EPS guidance. H-P now has a market cap of just $28.3B, or a mere 0.23x estimated FY12 revenue.

    | Oct. 4, 2012, 10:30 AM | 1 Comment
  • Oct. 3, 2012, 3:56 PM

    Lexmark (LXK -3.1%) and Xerox (XRX -2.5%) are two more casualties of H-P's depressing analyst day (I, II). H-P (HPQ -12.7%) predicted its Imaging & Printing Group's EPS contribution would grow by $0.05-$0.08 in FY13, but that's largely because the division's profits have plunged this year: for the first 9 months of FY12, IPG has seen its operating profit fall 20% Y/Y to $2.52B. (previous)

    | Oct. 3, 2012, 3:56 PM | 5 Comments
  • Oct. 3, 2012, 1:09 PM

    It just isn't H-P's (HPQ -7.9%) day. IBM (IBM +0.5%) has won a protest to overturn a $543M H-P contract to provide wireless tracking solutions for the Department of Veterans Affairs. The U.S. Government Accountability Office ruled the VA "made several prejudicial errors" in awarding the contract to H-P, and ordered the agency to reevaluate proposals, if not re-open bidding.

    | Oct. 3, 2012, 1:09 PM | 2 Comments
  • Oct. 3, 2012, 12:29 PM

    More from H-P's (HPQ -7.5%) analyst day: H-P establishes FY13 EPS guidance of $3.40-$3.60, below a consensus of $4.18. Enterprise Services will see a $0.29-$0.35 EPS drop thanks to an 11%-13% revenue decline, and enterprise hardware a $0.05-$0.12 drop. Software and printing earnings are expected to grow, and PC earnings are seen as flat to slightly down. Meg Whitman admits there have been execution issues. The Street isn't happy. (live blog, webcast)

    | Oct. 3, 2012, 12:29 PM | 1 Comment
  • Oct. 3, 2012, 11:59 AM

    H-P (HPQ -5.4%) dives as its analyst day gets underway (live blog, webcast). Meg Whitman has declared FY13 to be a "fix and rebuild" year that will see a broad-based profit decline (centered around enterprise services), and has again made cautious remarks about European and Chinese demand (previous). Analysts currently expect H-P's FY13 EPS to rise slightly. Streamlining H-P's product line is named a priority: the company plans to halve its printer SKUs next year.

    | Oct. 3, 2012, 11:59 AM | 11 Comments
  • Oct. 2, 2012, 11:15 AM

    Challenging Apple's high-end consumer notebook dominance isn't proving easy: IHS now expects only 10.3M ultrabooks to be sold this year, down from a prior forecast of 22M. The firm's 2013 forecast is lowered to 44M from 61M, and it's not hard to see a further revision if demand doesn't pick up. Intel (INTC) is hoping lower prices and the arrival of Windows 8 hardware will stoke demand. Weaker-than-expected ultrabook sales could be causing inventory problems for the chip giant.

    | Oct. 2, 2012, 11:15 AM | 8 Comments
  • Oct. 1, 2012, 6:48 PM
    Is this a sign of bottoming PC demand, or are the industry's inventory woes about to worsen? Digitimes reports Taiwanese contract manufacturers boosted their notebook shipments to top OEMs in September, as vendors increase supplies ahead of Windows 8's (MSFT) Oct. 26 launch - H-P (HPQ) saw a 70% M/M shipment increase, Asus 50%, and Acer 30%. Williams Financial is encouraged by the report, and says it's consistent with talks the firm has had with Taiwanese supply chain contacts. (Clover Trail delays)
    | Oct. 1, 2012, 6:48 PM | 3 Comments
  • Sep. 28, 2012, 12:40 PM

    Eastman Kodak (EKDKQ.PK) will stop selling consumer inkjet printers in 2013 as part of its efforts to focus on commercial solutions. Kodak's move comes shortly after Lexmark announced plans to abandon the inkjet market, which has been hit hard by the adoption of online/mobile photo viewing. H-P (HPQ), whose printing division is posting revenue declines, stands to benefit from Kodak and Lexmark's moves. Separately, Kodak is asking a bankruptcy court to give it until Feb. 28 to file a restructuring plan.

    | Sep. 28, 2012, 12:40 PM | 16 Comments
  • Sep. 27, 2012, 11:47 AM

    Businesses are unlikely to adopt Windows 8 (MSFT) in large numbers before next summer, says Dell (DELL) CFO Brian Gladden, as they wait for kinks to be ironed out. It's not uncommon for businesses to take a cautious approach to a new OS, but Gladden's remarks carry additional weight in light of Intel CEO Paul Otellini's rumored comments (later called "unsubstantiated" by Intel), and existing worries about poor enterprise Windows 8 adoption.

    | Sep. 27, 2012, 11:47 AM | 18 Comments
  • Sep. 27, 2012, 7:52 AM

    H-P (HPQ) is downgraded to Sell with price target of $14 at Jefferies, which cites the usual concerns about the PC business and a too-slow transition to services. "Also, we believe H-P will aggressively attack the smartphone and tablet markets, which we believe are risky investments." Shares -1% premarket.

    | Sep. 27, 2012, 7:52 AM
Company Description
HP Inc. provides products, technologies, software, solutions and services to individual consumers, small and medium-sized businesses and large enterprises, including customers in the government, health and education sectors. It operates through seven business segments: Personal Systems,... More
Sector: Technology
Industry: Diversified Computer Systems
Country: United States