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Hewlett-Packard Co.

5/22/2013, 3:55 AM ET

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Wednesday, May 22, 12:10 AM Notable earnings after Wednesday ’s close: DRYS, EGHT, GAME, HPQ , LTD, PETM, PSUN, SNPS, VVTV, WDAY 3 Comments [Earnings]
Tuesday, May 21, 5:35 PM Notable earnings after Wednesday ’s close: DRYS, EGHT, GAME, HPQ , LTD, PETM, PSUN, SNPS, VVTV, WDAY Comment! [Earnings]
Tuesday, May 21, 11:09 AM H-P's (HPQ) Vertica analytics database unit, acquired in 2011 and generally seen as an M&A bright spot for a company that hasn't had many lately, has been hit with a slew of major defections. Two top engineers and a pre-sales/services VP jumped ship last month, and one ex-employee claims about half of the 127 Vertica employees around at acquisition time have left. Vertica, whose offerings complement Autonomy's enterprise search/analytics software, faces competition from EMC's Pivotal spinoff (via Greenplum), IBM's Netezza unit, Teradata's Aster unit, and others. Comment! [Tech]
Thursday, May 16, 1:28 PM SAP (SAP -1.3%) makes a flurry of announcements during its Sapphire Now conference. 1) H-P (HPQ) is offering new AppSystems (prepackaged hardware/software) for SAP apps running on its Hana in-memory database. H-P and SAP are also working on Project Kraken, a server able to run Hana with 3x more memory than normal. 2) Hana has been updated to better support the Hadoop big data framework and other diverse data sources, and to include geospatial data. 3) SAP is launching Fiori, a group of "simple, easy-to-use" apps handling basic SAP software functions. 4) SAP's cloud apps, including SuccessFactors and Ariba's, have been updated. Comment! [Tech]
Thursday, May 16, 12:16 PM Cisco JV partner EMC (EMC +4.5%) joins the list of companies rallying in response to Cisco's FQ3 beat and guidance. Cisco mentioned on its earnings call integrated hardware solutions such as Vblock (offered by the Cisco/EMC VCE JV) are driving demand for its UCS servers - Cisco's UCS unit saw 77% Y/Y rev. growth. All in all, it's a good day for enterprise IT names, who are happy to receive some good earnings news after getting plenty of bad news (I, II, III, IV). HPQ +1.7%. IBM +1.3%. ORCL +1.3%. VMW +2.6%. TIBX +4.1%. CTXS +3.9%. CRM +3.8%. JIVE +4.1%. NTGR +2.7%. CVLT +2.6%. INFA +3%. (others rallying: I, II) 1 Comment [Tech, On the Move]
Monday, May 13, 11:46 AM H-P (HPQ -1.2%) offered to sell its Autonomy unit to SAP at some point before last month, but the German software giant wasn't interested, co-CEO Bill McDermott tells The Times. Odds are the offer price was well below the $11.1B H-P paid in 2011 for the enterprise search/analytics software vendor, the subject of a giant write-down, shareholder lawsuits, fraud investigations, plunging license sales, massive employee turnover, and other woe. Meg Whitman was saying all the right things about supporting Autonomy last month. Update: H-P responds by stating it has "no interest in selling Autonomy," and that SAP is the one that made inquiries about software asset sales (with H-P turning them down). 1 Comment [Tech, M&A]
Monday, May 13, 1:36 AM Plenty of companies are taking aim at Cisco's (CSCO) Nexus data center switch business. 1) H-P (HPQ) has updated its networking lineup to include a "virtual router" running on commodity hardware, to offload tasks handled by server virtualization software (Cisco also supports this), and to embrace software-defined networking. 2) Startup Arista has launched a high-density switch that (aided by FNSR optics) can handle 96 100G or 1152 10G ports in an 8-slot chassis. 3) Huawei has launched 16-slot switches that can handle 192 10G ports, and can be clustered. 4) Facebook's Open Compute Project is now working on a data center switch meant to handle virtually any software. Cisco is hoping to return fire via its Insieme unit (I, II). Comment! [Tech]
Monday, May 6, 11:23 AM The TD Ameritrade Investor Sentiment Index rose 0.23 points in March to 5.37, the 4th highest point in its 3-year history, and the best level since June 2011. Customers rotated out of outperforming names like DELL, PG, and HPQ, and into laggards like BIDU and FB.
1 Comment
Friday, May 3, 6:40 PM From all indications, Dell (DELL) gained server share in Q1 and H-P (HPQ) lost some, though the specifics are up for debate. IDC's preliminary data has Dell's global server unit share rising 240 bps Y/Y to 27.8%, and H-P's falling 440 bps to 30.9%. Gartner, meanwhile, thinks H-P's share fell 420 bps Y/Y to 25%, and Dell's rose 70 bps to 22.2% (its numbers might be calculated differently). Dell's revenue share is lower than its unit share, due to its reliance on SMBs and x86 servers. Nonetheless, servers have been a clear bright spot for the company as its PC sales crater. (Q4 revenue data) Comment! [Tech]
Friday, April 26, 10:48 AM H-P (HPQ +3.2%) has spiked higher in early trading. Rumors of Carl Icahn taking a stake in the IT giant appear to be responsible. Shares jumped on similar rumors back in December. 3 Comments [Tech, On the Move]
Wednesday, April 24, 12:33 PM "You can't see the other side of the trade," says Jim Chanos, holding court on CNBC for the hour. Be careful looking at 13Fs, he cautions, as managers cleverly put on positions designed to hedge or even mask their true intentions (he's currently long DE, but short other machinery stocks). "Servers are PCs on a rack," he says, not surprised Blackstone backed off DELL (he remains short, along with HPQ). Apple (AAPL)? He's long both it and Samsung (SSNLF.PK), but reminds it's more of a hedge against his PC shorts. China - along with any company (VALE) dependent on it - is still a short (presentation). 16 Comments
Tuesday, April 23, 10:37 AM Rivals Lexmark (LXK +13%) and Xerox (XRX -0.7%) are reacting very differently to their Q1 reports. Lexmark, which had 22.3% of its float shorted as of March 28, is soaring following a Q1 beat and better-than-feared top-line guidance: the company expects Q2 revenue to drop 6%-8% Y/Y, a little above an 8.1% consensus. EPS is expected to come in at $0.80-$0.90 vs. an $0.89 consensus. Gross margin rose 40 bps Y/Y in Q1 to 39.8%. Xerox is down slightly following mixed results and Q2 EPS guidance of $0.23-$0.25, below a $0.26 consensus. 2013 guidance has been reiterated. H-P (HPQ +0.2%), a rival to both firms, is near breakeven on an up day for tech. (PRs: I, II) Comment! [Tech, Earnings, On the Move]
Friday, April 19, 11:17 AM Enterprise IT names continue to underperform following a 1-2 earnings punch from IBM and SAP. Storage-related names are among the decliners, perhaps thanks to the 11% Y/Y drop IBM reported for its storage hardware sales. FIO -2.7%. EMC -2.3%. NTAP -2%. H-P (HPQ -1.4%) could be affected not only by the earnings reports, but by Blackstone's decision to abandon its bid for Dell. 1 Comment [Tech, On the Move]
Thursday, April 18, 5:45 PM Once again this year, some enterprise IT names are falling in AH trading in response to a weak earnings report. This time, the culprit is IBM, which posted a huge revenue miss thanks in large part to a 17% Y/Y drop in hardware sales. Flat software sales didn't help either. Big Blue tried to put much of the blame on deal-closing/execution issues, but the fact U.S. federal and China were named as weak spots might have some investors an edge. EMC -1.3%. HPQ -1.1%. CSCO -0.7%. RHT -1.2%. Comment! [Tech, On the Move]
Wednesday, April 17, 11:54 AM H-P (HPQ -2.1%), Seagate (STX -2.6%), and Western Digital (WDC -2.8%) underperform after UBS' Maynard Um argues Intel's (INTC -1.3%) Q1 report backs up his thesis that "PC pricing needs to come down ... to entice upgrades." Um thinks this will lead to margin pressure for OEMs, and an unfavorable mix shift for hard drive vendors. He also notes H-P/Dell might not benefit from Intel's server CPU strength, since it's fueled by cloud buyers who often rely on white-label gear. Also: Paul Otellini stated on Intel's Q1 call he expects Window 8 (MSFT) touch devices (7" tablets?) using Intel's upcoming Bay Trail Atom CPU to eventually sport ~$200 price points. 3 Comments [Tech, On the Move]
Tuesday, April 16, 12:05 PM While Microsoft (MSFT) takes its time in bringing the Kinect to Windows hardware, startup Leap Motion has struck a deal with H-P (HPQ) to embed and bundle Leap's advanced 3D motion controller - it can independently detect 10 fingers, and is said to be accurate up to 1/100 of a millimeter - with future devices.The devices will include access to Leap's Airspace app store, which should have strong developer support when it launches in May. Leap has already reached a deal with Best Buy to sell a USB motion controller for $80. 3 Comments [Tech]

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