|Bid||13.80 x 4000|
|Ask||0.00 x 4000|
|Day's Range||14.35 - 14.82|
|52 Week Range||12.52 - 17.59|
|Beta (5Y Monthly)||1.54|
|PE Ratio (TTM)||18.75|
|Earnings Date||Mar 02, 2020|
|Forward Dividend & Yield||0.48 (3.27%)|
|Ex-Dividend Date||Mar 09, 2020|
|1y Target Est||17.76|
Construction has begun on Hewlett Packard Enterprise's (NYSE: HPE) new campus in Springwoods Village north of Houston, according to a Feb. 12 press release. Palo Alto, California-based HPE announced in November 2017 that it would eventually move out of its Houston campus due to unprecedented flooding two years in a row. HPE preleased 568,000 square feet, and the project was expected to break ground in the fourth quarter of 2019.
(Bloomberg Opinion) -- As a general rule, I’m not a big fan of corporations being guided by corporate raiders, a.k.a. shareholder activists. They tend to rely on financial engineering to boost the stock price; cut back on “expenses” like customer service and research and development; and run for the exits when they see the roof caving in.But Xerox Holdings Corp. may be the exception. The company’s biggest shareholder is the activist of activists, 83-year-old Carl Icahn, who controls around 11% of the stock. The chairman, Keith Cozza, is the chief executive officer of Icahn Enterprises LP, Icahn’s holding company. One board member, Nicholas Graziano, is a portfolio manager with Icahn Capital LP, Icahn’s hedge fund. Another is John Christodoro, a former managing partner at Icahn Capital.And John Visentin, the Xerox CEO, while not an Icahn guy the way the other three are, clearly sees eye to eye with the big dog. He got the job in no small part because he agreed with Icahn that Xerox’s planned merger with Fujifilm Holdings Corp. was a bad idea. When Xerox pulled out of the deal in May 2018 — and agreed to put Icahn’s allies on the board — Visentin, who had backed away from negotiating with the previous board, was installed as the new boss.It’s hardly news that Icahn is an aggressive investor. What is news is that under Visentin, Xerox — lumbering, old-school Xerox — has become just as aggressive. He has managed to breathe new life into the 113-year-old printer company. He’s doing the share buyback thing, but he’s also streamlined the company, increased free cash flow and consistently beat the Street’s expectations even as revenue has continued to decrease gradually. According to Bloomberg data, the share price rose 87% last year, a number not seen in many years.Of course, the most visible manifestation of this new aggressiveness is Xerox’s effort to buy its much larger rival HP Inc. The attempt, which became public in November — soon after an unimpressive HP analysts’ meeting — heated up on Monday when Xerox raised its offer to $24 a share from $22, bringing its bid to $35 billion. Talk about the minnow trying to swallow the whale. Xerox has $9 billion in revenue. HP has $58 billion. Xerox has a market cap of $8 billion. HP has a market cap of $31 billion. Not all that long ago, an audacious move like this by Xerox would have been unthinkable.And HP? Nearly eight decades ago, it was the original Silicon Valley startup, the avatar of the tech industry. But by the 1980s, it had congealed in its own bureaucracy, and a kind of paralysis set in, compounded by some well-publicized gaffes. In 2015, in an effort to create a more nimble culture, the board split the company in two. Hewlett Packard Enterprise got the software and services side of the company, while HP kept printers and laptops. Last year, HP’s stock was down 21% before Xerox announced its intentions in early November.The essential problem is that the printer business is in a slow but steady decline — and like newspapers, cable television and many other businesses, that decline is likely irreversible. For HP, the decline is made worse because it makes most of its money in the printer division by selling expensive ink cartridges — and many consumers buy less expensive cartridges made by competitors.At the analyst meeting in October, HP announced that it would eliminate up to 9,000 jobs by 2022, saving $1 billion, and would turn to a subscription model to revive its flagging cartridge business. Analysts were unimpressed, and in the aftermath of the meeting, the stock dropped 9.4%In Icahn-like fashion, this was exactly the moment Visentin pounced. Xerox, of course, has the same problem as HP — its printer business is declining — and it doesn’t have other businesses, like laptops, to soften the blow. The shrinking of the printer business has convinced Visentin that industry consolidation is inevitable; in a statement at the time of the original offer, Xerox said that “our industry is overdue for consolidation, and those who move first will have a distinct advantage.”In the materials it has provided to HP shareholders, Xerox claims that a merger will have synergies worth $2 billion and will generate nearly $6 billion in free cash flow. And Visentin plans to use that money less to manage the decline than to buy smaller, more innovative companies while investing in research and development that will allow the company to chart a new course that will generate growth and profits.There is no way of knowing whether Visentin can pull this off if he lands HP, though his track record so far at Xerox should give shareholders hope. Indeed, he is so clearly right about the first-mover advantage of consolidation that what HP really ought to do is turn around and make a tender offer for Xerox, which would require a lot less debt. And then it should install Visentin as CEO.Instead, HP has reverted to form, contending that the Xerox bid is inadequate, that its financing is shaky and generally avoiding coming to grips with reality. But sometime soon, HP will have to set the date for its annual meeting, and at that point its shareholders will have a say in the matter. Xerox, ever the aggressor, is proposing a slate of directors to replace HP’s current board.I know one big shareholder who will vote for the Xerox slate. A few months ago, Icahn bought 4% of HP’s stock. HP’s odds of going it alone much longer aren’t good at all.To contact the author of this story: Joe Nocera at firstname.lastname@example.orgTo contact the editor responsible for this story: Daniel Niemi at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Hewlett Packard Enterprise to Present Live Audio Webcast of First Quarter Earnings Conference Call
Moody's Investors Service ("Moody's") has assigned provisional ratings to the notes to be issued by HPEFS Equipment Trust 2020-1 (HPEFS 2020-1). This is the second issuance for Hewlett-Packard Financial Services Company (HPEFS), a wholly owned subsidiary of Hewlett Packard Enterprise Company (HPE; Baa2/P-2, stable). The notes will be backed by a pool of small-ticket equipment loans and leases primarily originated by HPEFS, which is also the servicer of the loans and leases backing the transaction and the administrator for the issuer.
Moody's Investors Service, ("Moody's") placed Unisys Corporation's ("Unisys") B2 Corporate Family Rating ("CFR"), B2-PD Probability of Default rating, and B3 senior unsecured rating on review for upgrade. This rating action follows Unisys's announcement that the company has agreed to sell its US Federal business to Science Applications International Corp. ("SAIC") for $1.2 billion in an all-cash transaction (the "Divestiture"). Unisys plans to use the net proceeds for the principal and premium required to redeem all of its $440 million of 10.75% Senior Secured Notes and to make a pension contribution of $600 million.
British software entrepreneur Mike Lynch has submitted himself for arrest as part of his US extradition over allegations of conspiracy and fraud stemming from the $11bn sale of Autonomy to Hewlett-Packard in 2011. No date has yet been set for his extradition hearing. The 10-month trial was brought by Hewlett Packard Enterprise, which accused him and former colleague Sushovan Hussain of manipulating Autonomy’s accounts and causing the computing group to pay $5bn too much for the company.
Scytale helps to secure application-to-application identity and access management, an important way to protect customers in a world where more and more transactions are happening without human involvement.
Aruba announces that MTI of S. Dakota has chosen an Aruba network infrastructure to enable modern, collaboration-based experiences for students.
Hewlett Packard Enterprise ( NYSE: HPE) has acquired a security startup that provides tools of identity-driven and large scale distributed software, Scytale, TechCrunch reported. What Happened? Scytale ...
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Strada Investment Group has filed plans for one of the largest new office developments in Roseville in the last decade.
Hewlett Packard Enterprise (HPE) and the Argonne Leadership Computing Facility (ALCF), a U.S. Department of Energy (DOE) Office of Science User Facility, today announced that ALCF will deploy the new Cray ClusterStor E1000, the most efficient parallel storage solution, as its newest storage system. The new collaboration supports ALCF’s scientific research in areas such as earthquake seismic activity, aerospace turbulence and shock-waves, physical genomics and more. The latest deployment advances storage capacity for ALCF’s workloads that require converged modeling, simulation, artificial intelligence (AI) and analytics workloads, in preparation for Aurora, ALCF’s forthcoming exascale supercomputer, powered by HPE and Intel, and the first-of-its-kind expected to be delivered in the U.S. in 2021.
Aruba announces that the U.S. DoDEA has upgraded the network at its 164 schools around the world with Aruba wireless and security solutions.
Today we're going to take a look at the well-established Hewlett Packard Enterprise Company (NYSE:HPE). The company's...
This article was originally published on ETFTrends.com. The prominence of dividends in the technology sector is growing in a big way and the ProShares S&P Technology Dividend Aristocrats ETF (CBOE:TDV) is one of the ETFs dedicated to that increasingly important theme. TDV, which debuted last November, follows the S&P Technology Dividend Aristocrats, which requires member firms to have payout increase streaks of at least seven years.
Aruba announced that Black Fire Innovation will deploy an Aruba infrastructure in its tech incubation hub to enable next-gen hospitality experiences.
Hewlett Packard Enterprise (HPE) has been selected by Zenuity, a leading developer of software for self-driving and assisted driving cars, to provide the crucial artificial intelligence (AI) and high-performance computing (HPC) infrastructure it needs in order to develop next generation autonomous driving (AD) systems.
Veteran chief information officer Archana Deskus joins Intel Corp. as the Santa Clara chipmaker becomes increasingly focused on data.
Quibi is making a big push in a fledgling market amid furious competition between some of the world’s biggest media names for streaming customers. Its hope is it will resonate with a younger audience as an alternative in terms of content approach and delivery.
Microsoft's (MSFT) Surface Laptop 3 is equipped with easy repairability features. This highlights the company's efforts toward making its gadgets more friendly to fixes.
The price-to-earnings valuation for the S&P 500 technology sector has never been higher over the past 15 years.