|Bid||17.56 x 3100|
|Ask||17.57 x 4000|
|Day's Range||17.33 - 17.63|
|52 Week Range||12.54 - 23.93|
|Beta (5Y Monthly)||1.02|
|PE Ratio (TTM)||8.57|
|Earnings Date||Aug 20, 2020 - Aug 24, 2020|
|Forward Dividend & Yield||0.70 (4.13%)|
|Ex-Dividend Date||Sep 08, 2020|
|1y Target Est||17.71|
Marketing veteran and entrepreneur Gary Vaynerchuk weighs in on the controversy swirling around Facebook.
The personal computer business is not an easy place to make money. Dell, meanwhile, is reportedly discussing various options for its 81% stake in (VMW) (VMW), which could include selling or distributing the position—or buying out the public holders. Cowen analyst Krish Sankar picked up coverage of both Dell and HP on Tuesday—and he is wary of both stocks.
(Bloomberg Opinion) -- The Covid-19 pandemic is creating a deeper appreciation for things such as one’s health, getting together with friends, the great outdoors — and printers. Yes, home printers, those clunky deskside contraptions of a bygone era, are suddenly making a comeback, and it may outlast this crisis.As a recent Deloitte report put it, when the virus hit, hundreds of millions of people “brought their laptops home in a bag … but left their printers behind!” And oh, how we’ve missed them — not for the whir of the machine grabbing a sheet, nor the whoosh of the paper hitting its landing (though plenty of ASMR printer recordings do exist). Rather, it’s because we still print a lot more than we probably realized. One example: During regional Covid-19 lockdowns, consumers turned to online shopping, and that brought with it the inconvenience of needing to make returns and print shipping labels. That’s something office workers may have tended to do — shh! for I must whisper this part — at the office.Office printer mischief aside, there are plenty of jobs that entail regularly creating hard copies of reports or documents to sign, which is part of the reason some companies paid one-time allowances in the wake of Covid-19 to help employees configure their work-from-home setups. Deloitte predicts that sales of all-in-one home printers — the kind that scan and email — will surge 15% this year to nearly $29 billion. That’s double the annual growth rate that had been predicted before the coronavirus outbreak. Printers aren’t the only piece of 1990s nostalgia to see a resurgence lately. Social-media apps such as Instagram and TikTok show evidence of a revival of rollerblading, as cooped-up consumers look for safe activities to do outside. Food shortages, combined with the desire to make fewer trips to the grocery store, have led to a surge in sales of canned goods, home-baking ingredients and other pantry staples that had been waning in popularity during the last decade amid the rise of fresher foods and ready-to-eat items.But if any of these trends were to last as states and countries reopen and virus fears eventually subside, it’s probably printers. The lockdowns showed lots of companies that it’s more than possible to have large portions of their workforce working remotely. And there are signs that many will continue to embrace work-from-home policies, whether as a perk to retain and attract talent or to save on costs. Some offices that have already reopened are also running into post-Covid challenges, such as having open floor plans with side-by-side desks that may be more conducive to spreading the virus, and finding it difficult to get everyone up and down elevators safely without causing crowds in lobby areas.This sudden demand for home printers must be good news for manufacturers such as HP Inc., Canon Inc. and Xerox Holdings Corp., right? Not necessarily. These companies primarily make their money by selling business equipment, and from the recurring need for printer ink and other services; consumer hardware is generally less profitable. In fact, while printing normally accounts for just one-third of HP’s revenue, it drives more than half the company’s operating profit. However, HP’s managed print services experienced a 40% monthly decline in pages printed from February to April. Its commercial graphics solutions, such as its Indigo digital presses that can make brochures and catalogs, also suffered: “Indigo impressions went from being up 9% year-over-year in February to down 24% year-over-year in April,” CEO Enrique Lores said on HP’s earnings call in May.Still, Lores sees a silver lining for HP’s computer business. It used to be that one household sharing a single computer was enough, especially with tablets around. Now, he sees more homes having one PC per person. “What this crisis has shown is that if you want to be productive working from home, if you want your kids to be productive learning from home, you need to have access to a PC,” Lores said at an investor conference in May. “This is going to be changing the amount of PCs per household.” On the business side, while corporations are trying to cut back on printing to save money and the environment, HP and its rivals have their sights set on 3D printing as a way to stay relevant and keep growing. (SmileDirectClub Inc. makes its teeth aligners with HP’s 3D printing, which it used to make coronavirus face shields for hospitals, too.) HP is also pushing subscriptions to its Instant Ink delivery service, which counted more than 7 million customers last month, up from 6 million in February.And there you have it: The printer, the underappreciated office wallflower, has inked its place in the work-from-home future, for now. Just don’t count on that changing the fortunes of the companies that make them. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.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.
(Bloomberg) -- Microsoft Corp. has paused global advertising spending on Facebook Inc. and Instagram because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter.The software giant spent an estimated $116 million in Facebook advertising in 2019, and was the company’s third-largest advertiser last year, according to data from Pathmatics. Microsoft initially halted spending on the sites in the U.S. in May and has now expanded that globally, said the person, who didn’t want to be named discussing internal corporate matters. Axios earlier reported the move, citing comments from Chief Marketing Officer Chris Capossela in an internal Microsoft message board.Capossela did not immediately return an email asking for comment.A list of companies pulling back spending on Facebook properties is lengthening almost by the minute, part of an exodus aimed at pushing the social network and its peers to limit hate speech and posts that divide and misinform. Starbucks Corp. and Diageo Plc, Ford Motor Co. and HP Inc. are among those who said they are stopping ads on social networks for now.Microsoft’s concerns relate purely to the placement of ads next to certain content and aren’t a statement about Facebook’s policies, the person said.The company has spoken with Facebook and Instagram executives on what steps will be needed to resume spending and expects the advertising halt to be in effect through August.Although it didn’t disclose it publicly at the time, Microsoft was among companies that pulled ads from YouTube in February 2019 amid concerns about child pornography, the person said.(Updates with timing in the sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Board of Directors of HP Inc. (HPQ) has approved an amendment to the Company’s shareholder rights plan to accelerate the expiration date of the plan to June 25, 2020, effectively terminating the plan as of that date. The limited duration rights plan was previously set to expire on February 20, 2021. HP Inc. creates technology that makes life better for everyone, everywhere.
Carly Fiorina, the former Republican presidential hopeful and ex-CEO of Hewlett-Packard, says she’ll vote for presumptive Democratic presidential nominee Joe Biden in the November election.
PALO ALTO, Calif., June 24, 2020 -- The HP Inc. board of directors has declared a cash dividend of $0.1762 per share on the company’s common stock. The dividend, the fourth in.
Advances diversity and inclusion agenda: 63 percent of U.S. hires were from underrepresented groups; 40 percent of global new hires were women; exceeded veteran hiring goal by 43 percent. Announces commitment to double number of Black and African American executives by 2025; HP Foundation pledges $500,000 to social justice organizations as part of broader efforts to combat systemic racism, as well as 200 percent matching of employee donations. Expands HP Sustainable Forests Collaborative with addition of the Arbor Day Foundation, Chenming Paper, Domtar and New Leaf Paper.
HP Inc. (HPQ) has announced that it will redeem all of its remaining $472,342,000 3.750% Global Notes due December 1, 2020 and all of its remaining $395,178,000 4.300% Global Notes due June 1, 2021 (collectively, the “Notes” and such transaction, the “Redemption”) that are outstanding on July 22, 2020. The redemption price of the Notes will be 100% of the principal amount plus a make-whole premium and accrued and unpaid interest to, but excluding, the redemption date, in each case in accordance with the terms and subject to the conditions of the respective Notes and the indenture governing the Notes. Notices of redemption are being sent by The Bank of New York Mellon Trust Company, N.A., the trustee for the Notes, to all currently registered holders of the Notes.
One way to play a potential revival in out-of-favor value investing is a classic approach: buying stocks with low price-to-earnings ratios. Barron’s screened the S&P 500index for the 10 companies with the lowest P/E ratios based on projected 2020 earnings and market values above $5 billion, using FactSet. The group includes some well-known companies like (VIAC) (ticker: VIAC), Walgreens Boots Alliance (WBA), (PRU) (PRU), and (MET) (MET).
(Bloomberg) -- Alibaba Group Holding Ltd. and JD.com Inc. handled record sales of $136 billion during the country’s biggest online shopping gala of the post-pandemic era, suggesting China’s nascent consumer spending recovery has legs.The twin e-commerce giants put nationwide consumption to its first major test since the pandemic with the annual “6.18” summer extravaganza that concluded Thursday. Transactions across JD’s online platforms during the 18-day marathon leapt 34% to 269.2 billion yuan ($38 billion), a faster pace than in 2019. And Alibaba said it handled 698.2 billion yuan during its own campaign, without a year-earlier comparison. JD’s shares stood largely unchanged after rising 3.5% in their Hong Kong debut.China’s largest retailers counted on pent-up demand during the event -- created by JD to commemorate its June 18 founding anniversary -- to make up for lost sales during a coronavirus-stricken March quarter. Global brands and smaller merchants alike stocked up on goods for months in anticipation of an online bargain spree surpassed only by the Nov. 11 Singles’ Day in scale. The final tally underscored how hundreds of millions of shoppers remain willing to spend after the world’s No. 2 economy contracted for the first time in decades, especially given huge discounts as Covid-19 shifted buying to the internet.“The strong GMV at 6.18 will help to dispel market anxiety about virus-related disruptions,” Bloomberg Intelligence analyst Vey-Sern Ling said. “Chinese e-commerce platforms will probably deliver strong 2Q sales and profit recovery due to pent-up consumer demand and an accelerated shift to digital consumption channels driven by the virus.”This year’s deals-fest culminated with the biggest bargains Thursday and featured more generous subsidies than ever before, as well as an unprecedented cohort of live-streaming personalities. Competition also intensified with the likes of ByteDance Ltd. and Kuaishou -- whose video app now sells JD goods -- vying for buyers.“Chinese and foreign brands had sluggish sales due to the pandemic, and 6.18 has become their most important opportunity in the first half,” JD Retail Chief Executive Officer Xu Lei said in an interview with Bloomberg Television. For discretionary items like home appliances, “we’ve seen a recovery in consumption.”Read more: Chinese Shoppers Can Go Out Again. Online Buys Show They Won’tChinese retail suffered a record collapse in the first three months of 2020. While it’s on the mend, latest data shows private consumption still sluggish, dashing hopes of a V-shaped recovery as people head back to work. The picture is complicated by the fact that Covid-19 has kept people away from stores and shifted an unknown proportion of retail activity online, propping up online purchases.JD has projected revenue growth of 20% to 30% this quarter. Xu -- widely viewed as the front-runner to succeed billionaire founder Richard Liu -- says JD is on track to meet that goal and isn’t threatened by competitors encroaching upon its turf, like in consumer gadgets.“I don’t dance with them, I dance with users,” he said.Signs had grown this month that China’s e-commerce giants were on track for record sums as measured by gross merchandise value, or total value of goods sold. During the first ten hours of its 6.18 campaign, Alibaba’s Tmall business-to-consumer marketplace logged sales 50% higher than during the same period last year, after participating brands doubled. JD has said sales of imports like HP laptops and Dyson hairdryers soared, while it’s selling more fresh produce in smaller cities.Read more: JD’s Outlook Beats After E-Commerce Surges in China LockdownInitiated in 2014 as a riposte to Alibaba’s Singles’ Day, 6.18 has become yet another annual ritual for e-commerce companies and their offline partners from Walmart Inc. to Suning.com Co. Beyond headline figures, it’s less clear how much it contributes to the bottom line given the enormous discounting involved.“The result is good as far as growth is concerned, but in terms of margins, all the players will see the consequences,” said Steven Zhu, analyst at Pacific Epoch. “It’s just what I call paid-GMV for all the platforms. It’s the time that people have to have a good number after the coronavirus, so they just do it at whatever the cost.”Alibaba, along with brands on its platforms, committed cash and other coupons worth a total of 14 billion yuan, according to the company. JD said it offered 10 billion yuan in subsidies.“User growth and retention, and the digitization of brands and merchants are key considerations” when Alibaba pushes subsidies during promotions like 6.18, said Alibaba Vice President Mike Gu, who heads Tmall’s fashion and consumer goods businesses.Read more: Alibaba Drops After Projecting Slowing Growth in Uncertain TimesMore broadly, sales of fast-moving consumer goods on the Tmall and Taobao marketplaces in the June quarter have so far exceeded the pace of 2019’s final quarter, Gu said in an interview. Thanks to 6.18, apparel growth this month has also climbed back to pre-Covid-19 levels, he added.Live-streaming is also playing a bigger role during this year’s 6.18, at a time Covid-19 is fueling an unprecedented boom in online media. Alibaba’s Taobao Live championed the use of influencers to sell everything from lipstick to rockets, prompting rivals like JD and Pinduoduo Inc. to follow suit.Social media companies like TikTok-owner ByteDance and Tencent Holdings Ltd.-backed Kuaishou are jumping on the bandwagon. Their mini-video platforms in China have lured a long list of tech chieftains hawking products of their own to live-streaming fans: The latest was NetEase Inc.’s usually reclusive founder, William Ding. Last week, his debut on Kuaishou amassed 72 million yuan of sales in just four hours.“I’ve never eaten beef jerky as tasty as this in the last twenty years,” the billionaire said during the livestream.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
With the recently-launched family printer, HP (HPQ) aims to cater to the needs of people and students, who are forced to work and learn from home amid the coronavirus pandemic.
HP Inc. (HPQ) today announced the expiration and results of its previously announced offers to purchase for cash any and all of the Notes listed in the table below (the “Notes”). The offers to purchase with respect to each series of Notes are being referred to herein as the “Offers” and each, an “Offer.” Each Offer was made upon the terms and subject to the conditions set forth in the offer to purchase, dated June 9, 2020 (the “Original Offer to Purchase”) as amended, supplemented, modified and updated by supplement no. 1 (the “Supplement” and, together with the Original Offer to Purchase, the “Offer to Purchase”), and its accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery” and, together with the Offer to Purchase, the “Tender Offer Documents”).
Moody's Investors Service, ("Moody's") assigned a Ba2 Corporate Family Rating (CFR) and a Ba3-PD Probability of Default Rating (PDR) to Tech Data Corporation (New) ("Tech Data") in conjunction with the debt funded acquisition by funds of Apollo Global Management, Inc. ("Apollo"). As part of the rating actions, Moody's assigned a Ba1 to the proposed ABL revolver and ABL term loan, and a Ba2 to the first-in, last-out (FILO) ABL term loan.
PALO ALTO, Calif., June 15, 2020 -- HP Inc. today unveiled its new HP ENVY 6000 printer series, a simply intuitive device designed for today’s families who lead dynamic, busy.
HP (HPQ) is borrowing $3 billion through an offering of senior unsecured notes to fund its $2.55 billion worth of debt tender offers and use the remaining for general corporate purposes.
HP Inc. (HPQ) today announced the pricing of its underwritten public offering of $3.0 billion aggregate principal amount of senior unsecured notes, consisting of $1,150,000,000 aggregate principal amount of its 2.200% notes due 2025 at a public offering price of 99.769% of the principal amount, $1,000,000,000 aggregate principal amount of its 3.000% notes due 2027 at a public offering price of 99.718% of the principal amount, and $850,000,000 aggregate principal amount of its 3.400% notes due 2030 at a public offering price of 99.790% of the principal amount (collectively, the “Notes”). HP intends to use the net proceeds from this offering to fund the tender offers for its 3.750% Global Notes due December 1, 2020, of which approximately $649 million principal amount is outstanding; its 4.300% Global Notes due June 1, 2021, of which approximately $667 million principal amount is outstanding; its 4.375% Global Notes due September 15, 2021, of which approximately $538 million principal amount is outstanding; and its 4.650% Global Notes due December 9, 2021, of which approximately $695 million principal amount is outstanding (collectively, the “Tender Offers”).
HP Inc. (HPQ) today announced an amendment to the Financing Condition related to its previously announced offers to purchase for cash any and all of the Notes listed in the table below (the “Notes”). The offers to purchase with respect to each series of Notes are being referred to herein as the “Offers” and each, an “Offer.” Each Offer is made upon the terms and subject to the conditions set forth in the offer to purchase, dated June 9, 2020 (the “Original Offer to Purchase”) as amended, supplemented, modified and updated by supplement no. 1 (the “Supplement” and, together with the Original Offer to Purchase, as it may be further supplemented and amended from time to time, the “Offer to Purchase”), and its accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery” and, together with the Offer to Purchase, the “Tender Offer Documents”).
In such a confused financial environment, investors are hard-pressed to find a market strategy that will bring positive results. The old saws may not be reliable. One way out of the quandary is to follow the insiders.These corporate officers have a vested interest in their own companies – they are responsible to shareholders for performance, and they are also shareholders themselves – so when they start buying large bundles of shares, investors should take note.TipRanks has the tools to help you do just that. The Insiders’ Hot Stocks page shows which stocks top insiders are most active on, for both purchases and sales. You can sort insider trades by a variety of filters, including trading strategy. We’ve done some of the legwork for you, and pulled up three stocks with recent informative buy-side transactions. Here are the results.Sutter Rock Capital (SSSS)First on our list is a stock in the financial sector, Sutter Rock Capital. This venture capital investment corporation provides capital backing for private companies, giving them access to funds for new projects. Sutter Rock’s portfolio includes investments in 22 companies, worth an aggregate $159.9 million. The insider moves over the past three months have all been informative buys. Most recently, Robert Birch, a >10% owner in the company, has been purchasing large blocs of stock. In June alone, Birch has bought 180,000 shares, paying a disclosed $1.15 million for the stock.Ladenburg analyst Jon Hickman notes that Sutter Rock’s portfolio is well-positioned to gain in current economic conditions: “…several of the top holdings are actually performing very well and even benefiting from the current environment. The education-related names (Course Hero, Clever, and Coursera) are leaders in online learning/education space which has become even more in demand with the shuttering of physical classrooms at all levels. Additionally, the services provided by both Palantir and Nextdoor have gained traction in the wake of the COVID outbreak.”Hickman’s $12.25 price target on the stock indicates a high upside potential of 85%, and supports his Buy rating. (To watch Hickman’s track record, click here)The analyst consensus on SSSS shares is a unanimous Strong Buy, based on 3 Buy ratings given in the last three months. Shares are priced at $6.5, and the average price target of $10.75 implies a strong upside of 65% for the coming year. (See Sutter Rock stock analysis on TipRanks)Extreme Networks (EXTR)Next up, Extreme Networks, is a tech company. Extreme Networks operates in the network infrastructure segment, designing, developing, and manufacturing the equipment for both wired and wireless networks, and developing software for network analytics, management, and security.Edward Kennedy, a director with Extreme Networks, has made the recent insider trades on this stock. In the past week, he has bought two blocs, totaling 150,000 shares worth $587,100. Kennedy’s total holding in EXTR is valued over $2.2 million, so these purchases were a significant percentage of his stake in the company.While network companies – especially those involved in wireless networks – found themselves in a strong position during the corona crisis, EXTR saw its stock and earnings drop sharply in Q1. Yet, analysts expect to see EXTR make a strong sequential gain in its next quarterly report.5-star analyst Christian Schwab of Craig-Hallum is optimistic on Extreme Networks’ prospects, and rates the stock a Buy. His $6 price target suggests the stock has room for 26% upside growth in the next 12 months. (To watch Schwab’s track record, click here)Supporting his thesis, Schwab writes, “Should the company experience a more accelerated “V-shaped” recovery and quickly return to a $1+ billion with continued modest topline growth and operating margins approaching management’s previously targeted 15% level, we calculate the business can drive annual EPS power approaching $1.00.” Overall, Extreme Networks has a Moderate Buy analyst consensus rating, based on 5 reviews which include 3 Buys and 2 Holds. The stock is selling for $4.75 after the market gyrations of recent months, and the $5.67 average price target indicates a possible 19% upside potential. (See Extreme Networks stock analysis on TipRanks)HP, Inc. (HPQ)Last on our list is an old name in the personal computer world, HP. Split off from Hewlett-Packard in 2015, HP has the parent company’s personal computer and printer divisions. HP is consistently in the top three vendors of personal computers, worldwide, measured by market share and sales volume; it was ranked second in 2019, with a 22% market share.Two insiders have made informative purchases here in June. Enrique Lores, President and CEO, bought 13,500 shares for over $207,000, while board member Robert Bennett picked up 67,000 shares for just over $1 million. Since the February market crash, HPQ has seen extreme volatility. Since mid-March, HPQ shares have been bouncing between $13 and $17, a significant drop from the stock’s February peak of $23. Despite the inconsistent share performance, HP management declared it’s third dividend of the fiscal year, to be payable in July. The payment, at 17.62 cents per share, gives a yield of 4%, more than double the average among tech sector peers.Amit Daryanani, 5-star analyst with Evercore ISI, sees HPQ with a stable niche, noting, “…demand rose during the quarter as some consumers upgraded home devices in light of remote work.” The analyst reiterated his Buy rating on the stock, along with a $21 price target implying a 20% one-year upside potential. (To watch Daryanani’s track record, click here)The Hold consensus rating on HPQ reflects both the stock’s volatility and analyst concerns over supply and distribution chain disruptions during the COVID-19 pandemic. Shares in HPQ are selling for $17.50, and the average price target of $17.92 indicates a minimal upside. To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Moody's Investors Service, ("Moody's") assigned a Baa2 senior unsecured rating to HP Inc. ("HP")'s proposed debt offering, the proceeds of which will be used to tender for a series of senior unsecured notes due December 2020, June 2021, September 2021 and December 2021.The ratings outlook is stable. Driven by the coronavirus-driven economic weakness over the next few quarters, Moody's expects varying degrees of challenges in its portfolio, led by a full quarter of ongoing weakness in commercial printing and related supplies as many businesses worldwide continue to operate remotely and print less. Moody's expects revenue for HP's personal computer segment will decline in the mid-single digit range in its fiscal second half although operating margins will remain solid at around 5-6%.
HP Inc. (HPQ) today announced its offers to purchase for cash any and all of the Notes listed in the table below (the “Notes”). The offers to purchase with respect to each series of Notes are being referred to herein as the “Offers” and each, an “Offer.” Each Offer is made upon the terms and subject to the conditions set forth in the offer to purchase, dated June 9, 2020 (as may be amended or supplemented from time to time, the “Offer to Purchase”), and its accompanying notice of guaranteed delivery (the “Notice of Guaranteed Delivery” and, together with the Offer to Purchase, the “Tender Offer Documents”).