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Hewlett-Packard Co.

6/20/2013, 8:02 AM ET

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Tuesday, June 18, 10:01 AM Todd Bradley, the well-respected head of H-P's (HPQ +1%) PC/printer unit, is leaving that position to head H-P's Chinese ops and work on expanding its global channel partner deals (his official title will be EVP, Strategic Growth Initiatives). Asia-Pac PC/printer chief and former Lenovo exec Dion Weisler will take over Bradley's current job. The shakeup follows a quarter in which H-P's PC sales fell 20% Y/Y, and more share was lost to Lenovo. Printer sales fell 1%, an improvement from recent quarters. Bradley's name has occasionally come up when high-profile job openings at rivals are discussed. 4 Comments [Tech]
Wednesday, June 12, 2:20 PM H-P (HPQ +3.6%) is giving Google Apps (GOOG -0.8%) a big endorsement; the company is launching SMB IT in a Box, a solution that pairs H-P's PCs, printers, management software, and services with Google Apps subscriptions. SMB IT will be offered worldwide via H-P's giant reseller network by year's end. It arrives shortly after Microsoft (MSFT) gave Office 365 a feature-packed update in an effort to keep Google and other cloud rivals at bay, and to migrate customers to subscription plans. The Small Business Premium version of 365 goes for $12.50/user/month; Google Apps for Business goes for either $5/user/month or $50/year. 2 Comments [Tech]
Wednesday, June 12, 10:27 AM It's "still possible" for H-P (HPQ +4.7%) to deliver revenue growth in FY14 (ends Oct. '14), says Meg Whitman in a CNBC appearance (video) that has brought the IT giant's shares to within pennies of their 52-week high. Analysts currently expect H-P's FY14 sales to fall 2.2% in FY14, after declining 7.4% in FY13. Whitman also admits H-P's struggling PC ops remains the company's "biggest wild card," and (in spite of intense competition) says H-P needs to expand its mobile offerings to "other operating systems" (Android seems a good bet). (yesterday) 4 Comments [Tech, On the Move]
Tuesday, June 11, 12:11 PM "When I came in, 65 percent of our directors and above were outside hires. Now it’s the reverse," says Meg Whitman in an interview, discussing the management changes H-P (HPQ +0.2%) has seen since she took over. Whitman admits margins for tablets and hybrids "aren't as good" as PC margins, but argues higher peripherals/services attach rates make up for it (but can H-P obtain a share comparable to its ~16% PC share?). She also says H-P will "consider getting back in the acquisition business," and reiterates the IT giant won't follow Dell into a price war (previous). Also: H-P has rolled out several new business desktops powered by Intel's Haswell CPUs. 1 Comment [Tech]
Monday, June 10, 7:16 PM Storage hardware sales are holding up only a little better than server sales: IDC estimates sales of standalone arrays fell 0.9% Y/Y in Q1, a reversal from growth of 2.3% and 4.7% in Q4 and 2012. Total storage sales (inc. server-attached gear) fell 3.2% after rising 0.7% in Q4. In the standalone market, IDC thinks #1 EMC had a 30.4% share (+140 bps Y/Y), #2 NetApp (NTAP) 14.9% (+80 bps), #3 IBM 10.9% (-50 bps thanks to a rough quarter), and #4 H-P (HPQ) 9.3% (-100 bps and also not faring well). Also: IDC thinks storage software sales rose 3.2% Y/Y in Q1. #1 EMC's share is pegged at 23.9%, #2 IBM's at 16.8%, and #3 Symantec's (SYMC) at 14.7%. CommVault (CVLT) and Veeam gained more share, growing 23% and 35% Y/Y. 5 Comments [Tech]
Saturday, June 8, 9:05 AM Boring stocks can bring exciting returns, Mark Hulbert discovers, as his research reveals stocks exhibiting the least historical volatility on average comfortably outperform the most "exciting" (i.e., volatile) issues. One believer in the boring-is-beautiful school, Guggenheim Partners' Nardin Baker, likes these stocks: SO. D, KMB, CL, COST. Too volatile are AAPL, GS, C, MS, HPQ. MET. 6 Comments [Quick Ideas]
Friday, May 31, 5:01 AM Carlyle (CG) and Blackstone (BX) are reportedly preparing to bid for H-P's (HPQ) 60.5% stake in Indian IT services outsourcer MphasiS. Other potential suitors include MphasiS peers L&T Infotech and Tech Mahindra, both of which could join up with the P-E firms to make offers. 2 Comments [Tech]
Wednesday, May 29, 2:09 PM Global server sales fell 5% Y/Y in Q1, says Gartner. That's a reversal from Q4's 5% growth, and evidence of both weak IT spending and a shift towards cheaper hardware. #1 IBM, whose hardware unit had an ugly Q1, saw its revenue share fall 250 bps Y/Y to 25.5%. #2 H-P (HPQ), hurt by crumbling Itanium server demand, saw its share fall 280 bps to 25%, and #5 Oracle (ORCL), hit hard by plunging UNIX server sales, saw a 130 bps drop to 4.6%. But #3 Dell's (DELL) share rose 310 bps to 18%, and Cisco (CSCO) cracked the unit share top-5 at 2.3%. The buying habits of Internet companies led non-top-5 vendors to make up 22% of sales, up 370 bps. Sales of x86 servers (mostly INTC-based) grew 1.8%, down from Q4's 6.6%. (IDC's Q4 data) 3 Comments [Tech]
Tuesday, May 28, 1:22 PM IDC has again raised its tablet forecasts: the firm now expects shipments to grow 58.7% in 2013 to 229.3M units. That's up from a March forecast of 190.9M units, which itself was up from a forecast of 172.4M. 55% of shipments are expected to involve sub-8" tablets vs. 27% in 2012. With IDC estimating Q1 shipments rose 142% Y/Y to 49.2M, further hikes don't seem far-fetched. Meanwhile, following a 13.9% Y/Y drop in Q1, IDC now expects PC shipments to fall 7.8% Y/Y in 2013 to 321.9M, and predicts tablet sales will outpace PC sales by 2015. Revenue crossover could take longer, given IDC forecasts a 2013 tablet ASP of $381, and a PC ASP of $635. AAPL and GOOG must be pleased, MSFT, INTC, AMD, DELL, and HPQ less so. 16 Comments [Tech]
Thursday, May 23, 2:57 PM Even as H-P (HPQ +15.6%) shares enjoy another big rally in the wake of last night’s quarterly results, Topeka Capital's Brian White sees only a "sugar high... not a sustainable trend." While the upside excites bulls in the short-term, the fact remains that H-P’s profits and sales have dropped for seven quarters in a row, he says, maintaining his Sell rating and $12 price target. 9 Comments [Tech, On the Move]
Thursday, May 23, 12:45 PM Midday top 10 gainers: ESMC +52%. HIHO +43%. CNIT +23%. RUE +23%. GAME +16%. HPQ +14%. JRJC +13%. PTIX +13%. HSOL +13%. CHYR +13%.
Midday top 10 Losers: RVM -22%. APRI -21%. CRUS -17%. BOSC -15%. NSPR -15%. MTEX -12%. SHIP -11%. IX -10%. EDMC -10%. AERL -10%. 1 Comment [On the Move]
Thursday, May 23, 11:11 AM The broad selloff isn't touching H-P (HPQ +14.2%) following last night's earnings. Jefferies' Peter Misek weighs in with an upgrade from Sell to Hold. He praises H-P for having the discipline to sacrifice PC market share to retain profitability (unlike DELL; Whitman (transcript): "Maybe that's what you do when you're about to go private.") Misek also likes the cash flow guidance of $7.5B - "(it) materially changed our view of H-P margin, cash flow, and EPS prospects." 2 Comments [Tech, On the Move]
Thursday, May 23, 9:12 AM Premarket gainers: RUE +24%. PSUN +11%. HPQ +10%. VVTV +7%.
Losers: STP -12%. CLNT -11%. NMR -9%. JRCC -9%. MTU -8%. SAAS -8%. DRYS -8%. SOL -8%. SMFG -7%. NBG -7%. SNE -6%. TSL -6%. RSOL -6%. WETF -5%. Comment! [On the Move]
Wednesday, May 22, 6:37 PM In its earnings call today, Hewlett-Packard (HPQ) CEO Meg Whitman remarked that its position in the PC market has been boosted by recent efforts to sell tablets powered by Google's (GOOG) Android, thus allowing it to compete in tablets again after discontinuing its Palm/webOS TouchPad in 2011. "If we have the right product and the right price, the channel still loves H-P and they want to sell our products," Whitman said. "Frankly, having Android products helps a lot." (Webcast) Shares +13.3% AH. 3 Comments [Tech, Earnings, On the Move]
Wednesday, May 22, 5:48 PM After-hours top gainers, as of 5:30 p.m.: PSUN +17.8%. HPQ +13.8%. NCS +7.6%. RTIX +5.8%. AMAG +5.6%.
After-hours top losers: VICL -3.2%. CST -2.8%. SYPR -2.4%. HUM -1.8%. NG -1.8%. Comment! [On the Move]
Wednesday, May 22, 4:20 PM More on Hewlett-Packard (HPQ) FQ2 earnings: FY2013 EPS guidance is upped to $3.50-$3.60 from $3.40-$3.60 previously. Operating margin of 8.6%, up from 7.9% in FQ1, down from 8.9% a year ago. PC sales down 20% Y/Y. Printers -1%. Enterprise hardware -10%. Services -8%. Software -3%. CC at 5 ET. Shares +12% AH. (PR) 11 Comments [Earnings, Tech, On the Move]

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