Thu, Oct. 13, 4:58 PM
- Projects EPS at $1.55-$1.65 (consensus $1.61) and free cash flow at $2.3B-$2.6B.
- Quarterly dividend raised 7%, additional $3B share repurchase authorized.
- Anticipates returning 50%-75% of free cash flow through dividends and buy backs.
- HP (NYSE:HPQ) president and CEO Dion Weisler: "Although our markets remain very challenged, we are committed to innovating in the core and continue to see long-term growth opportunities in commercial mobility and services, the disruption of the A3 copier market, and the digitization of graphics and manufacturing through our leading 3D printing solutions."
- In a separate 8-K filing, HP discloses a 3K-4K employee restructuring expected to be implemented starting in FY 2017 through FY 2019. Estimates a $200M-$300M range for gross annual run rate savings beginning in FY 2020, though $350M-$500M in overall charges resulting from the plan.
- Conference call
- Press release
Wed, Sep. 28, 7:16 PM
- HP (HPQ +1%) has apologized to customers affected by a software update that caused some printers to stop working with third-party ink cartridges, and promised a fix.
- The update caused the printers to stop working even if they had worked with outside ink supplies in the past. HP says the move was designed to protect customers from "unauthorized" cartridges.
- "Although only a small number of customers have been affected, one customer who has a poor experience is one too many," said a statement by Chief Operating Officer Jon Flaxman that promised another update to come that reverses the change.
- HP's ink cartridges contain security chips that can be read and recognized by its printers. Printer ink is one of the company's most profitable products.
Mon, Sep. 12, 10:25 AM
- Microsoft (MSFT) registers a new major customer for its CRM offering, marking a win over competitors Salesforce (CRM +0.4%) and Oracle (ORCL +0.6%).
- HP (HPQ +1.4%) will utilize Dynamics throughout its marketing and sales and services operations. HP already uses Microsoft's Azure, Office 365 and other Microsoft Cloud offerings.
- HP COO, Jon Flaxman: "We have chosen Microsoft Dynamics as our CRM solution for our direct selling, partners and services. This brings us a cloud-based solution that delivers a more effective and efficient collaboration engine across our business."
- Though the opportunity for the cloud enterprise space lies within all sizes of businesses, winning a large and notable client like HP demonstrates Microsoft continues to make headway within the highly competitive industry.
Mon, Sep. 12, 5:11 AM
- HP (NYSE:HPQ) is getting a lot bigger. The personal computer and printing giant is buying Samsung's (OTC:SSNLF) printing business for $1.05B, in a move that will give it 6,000 new employees, thousands of new technology patents and a bigger presence in Asia.
- The acquisition is expected to add to HP's earnings in its full year after closing.
- Samsung will also buy $100M-$300M worth of HP shares on the open market once the deal is through.
Fri, Sep. 9, 8:48 AM
- Looking to focus on its core businesses, Samsung Electronics (OTC:SSNLF) is considering selling its printer business to HP (NYSE:HPQ) in a deal worth around $1.8B, the Seoul Economic Daily reports.
- The paper, citing an unnamed senior Samsung source, said the Korean firm will likely announce a decision on the potential sale by next week.
- HPQ -0.8% premarket
Thu, Aug. 25, 9:16 AM
Wed, Aug. 24, 5:38 PM
Wed, Aug. 24, 4:25 PM
- HP (NYSE:HPQ) reported $11.9B in Q3 revenue, higher than analyst predictions, though down from the prior year.
- Personal Systems net revenue (4.4% operating margin) remains unchanged Y/Y, Commercial net revenue declined 3% and Consumer net revenue improved by 8%. Total units increased 4% (Notebooks unit +12%, Desktops unit -6%).
- Printing net revenue (20.4% operating margin) declined 14% Y/Y, total hardware units declined 10% (Commercial units -2%, Consumer units -14%) and Supplies revenue decreased 18%.
- Projects Q4 diluted net EPS of $0.34-$0.37 and FY 2016 diluted net EPS of $1.59-$1.62.
- HP president and CEO, Dion Weisler: "Although the markets remain challenged, we have the innovation and executional rigor needed to continue to take profitable share and invest in the right opportunities to drive long-term success for the company."
- Conference call
- Press release
Wed, Aug. 24, 4:06 PM
Tue, Aug. 23, 5:35 PM
Wed, Jul. 20, 9:34 AM
Fri, Jul. 15, 7:51 AM
Thu, Jun. 23, 2:06 PM
- HP (HPQ +2%) is recalling 41,000 notebook computer batteries over fire risks, according to the Consumer Product Safety Commission.
- The batteries in question were for HP and Compaq notebooks and sold at Best Buy, Wal-Mart and Costco along with authorized dealers as well as online from March 2013 to August 2015.
- The company's had about seven reports so far of the Chinese-made packs melting, overheating or charring.
Thu, Jun. 23, 7:53 AM
Tue, Jun. 21, 5:35 PM
Tue, Jun. 21, 4:24 PM
- The company expects FQ3 non-GAAP EPS of $0.43-$0.46 vs. consensus of $0.39.
- Full-year EPS is reaffirmed at $1.59-$1.65.
- At 4:30 ET, there will be a conference call in which the CEO, the CFO, and the President of Printing will discuss a recent sale, investments in printing, and the updated financial outlook.
- HPQ +3.9% after hours