|Bid||36.93 x 800|
|Ask||36.95 x 800|
|Day's Range||36.70 - 37.19|
|52 Week Range||27.07 - 39.47|
|Beta (5Y Monthly)||1.77|
|PE Ratio (TTM)||13.03|
|Earnings Date||Apr 21, 2020 - Apr 26, 2020|
|Forward Dividend & Yield||1.00 (2.82%)|
|Ex-Dividend Date||Dec 29, 2019|
|1y Target Est||41.00|
U.S. stocks rebounded on Tuesday, as the S&P 500 bounced back from its worst day in nearly four months, led by a climb in Apple and other names hit by exposure concerns to the coronavirus outbreak in China that sparked a recent sell-off. Markets across the world stabilized as the head of the World Health Organization (WHO) said he was confident in China's ability to stem the virus outbreak, which has killed 106 people in the country, prompted businesses to close operations and curbed travel.
U.S. stocks rebounded on Tuesday, with the S&P 500 bouncing back from its worst day in nearly four months, led by a climb in Apple and other names after concerns on the economic impact of the coronavirus outbreak in China sparked a sell-off last week. Markets across the world stabilized as the head of the World Health Organization (WHO) said he was confident in China's ability to stem the virus outbreak, which has killed 106 people in the country, prompted businesses to close operations and curbed travel. "Obviously, with the China coronavirus uncertainty will breed volatility in the market until there is some sort of endgame to where this thing will be under control," said Jeff Zipper, managing director of investments at U.S. Bank Private Wealth Management in Florida.
The S&P 500 rose over 1% on Tuesday as a surge in Apple and other technology stocks helped the benchmark index recover from its worst selloff in about four months that was sparked by concerns over the coronavirus outbreak. Markets across the world stabilized as the head of the World Health Organization (WHO) said he was confident in China's ability to contain the virus outbreak, which has killed 106 people in the country, prompted businesses to close operations and curbed travel. President Xi Jinping later said China was sure of defeating a "devil" coronavirus.
Markets across the world stabilized as the head of the World Health Organization (WHO) said he was confident in China's ability to contain the virus outbreak, which has killed 106 people in the country, prompted businesses to close operations and curbed travel. The earnings season was gathering pace, with Apple Inc set to report results after markets close. Investors will keep a close watch on Apple's earnings amid concerns of a disruption in iPhone production as the coronavirus spreads across its major markets like China.
In November, Xerox (ticker: XRX) offered to acquire HP (HPQ) for $22 a share—$17 in cash and the rest in Xerox shares. “Xerox’s results do not alleviate the fundamental concerns about the continued revenue declines and health of the Xerox business,” HP said in a statement Tuesday morning. Xerox previously said it has secured $24 billion in financing commitments for the cash portion of the deal.
U.S. stocks rose on Tuesday as gains in technology and financial shares helped major indexes recover from their worst selloff in about four months on worries over a coronavirus outbreak and its impact on global growth. Markets across the world stabilized as the head of the World Health Organization (WHO) said he was confident in China's ability to contain the virus outbreak, which has killed 106 people, prompted businesses to close operations and curbed travel. Investors will keep a close watch on Apple Inc's results, due after markets close, amid concerns of a disruption in iPhone production as the coronavirus spreads across major markets like China.
The company continues to see shrinking revenue, and the report vividly underlines the challenges it faces in completing its pending offer for its much larger rival.
Markets across the world stabilized as the head of the World Health Organisation (WHO) said he was confident in China's ability to contain the virus outbreak, which has killed 106 people, prompted businesses to close operations and curbed travel.
Xerox, which has been facing a slowdown in demand as businesses cut down on printing their paperwork, has laid out a three-year cost-cutting plan under Chief Executive Officer John Visentin, a nominee of activist investor Carl Icahn. The quarterly results also benefited from a gain of over $500 million related to the sale of stake in Fuji Xerox and other assets. Xerox's total revenue fell to $2.44 billion in the fourth quarter from $2.50 billion a year earlier.
Xerox Holdings Corporation (NYSE: XRX) announced its fourth-quarter and full-year 2019 financial results and 2020 guidance.
The technology sector is comprised of businesses that sell goods and services in electronics, software, computers, artificial intelligence, and other industries related to information technology (IT). The sector includes companies with the largest market capitalizations in the world, including Alphabet Inc. (GOOGL), Microsoft Corp. (MSFT), and Amazon.com Inc. (AMZN). Here are the top 3 tech stocks with the best value, the fastest earnings growth, and the most momentum.
Xerox (NYSE: XRX ) announces its next round of earnings this Tuesday, January 28. Here's Benzinga's look at Xerox's Q4 earnings report. Earnings and Revenue Based on management's projections, Xerox analysts ...
HP is promising bigger stock buybacks as it tries to hold off Xerox’s hostile bid. Meanwhile, Xerox could still raise its offer. Either way, investors win.
The printer and PC company said it has “numerous opportunities” to drive sustainable long-term value, including increased share repurchases and “value-creating M&A.”
In Xerox's latest effort to get HP to bend to its will and combine the two companies, it announced its intent today to try to replace the entire HP board of directors at the company's stockholder's meeting in April. Xerox and HP have been playing a highly public game of tit for tat in recent months. Xerox wants very much to combine with HP, and offered $34 billion, an offer HP summarily rejected at the end of last year.
(Bloomberg) -- Xerox Holdings Corp. said it intends to nominate 11 directors to replace the board of HP Inc. after the personal-computer maker refused to engage in takeover talks, according to a statement Thursday.The iconic printer maker hasn’t increased its $22-a-share takeover offer after HP rejected its proposal, which it argues undervalues the company. Instead, Xerox will seek to replace HP’s entire board through a proxy fight to push the merger through.The nominees include former senior executives from dozens of companies including Aetna Inc., United Airlines Holdings Inc. and Novartis AG.“HP shareholders have told us they believe our acquisition proposal will bring tremendous value, which is why we lined up $24 billion in binding financing commitments and a slate of highly qualified director candidates,” said John Visentin, vice chairman and chief executive officer of Xerox.Xerox filed its slate ahead of a Friday deadline for board nominations. The move could potentially be a precursor to Xerox taking its offer directly to shareholders through a tender offer at the current offer price or a premium if HP continues to rebuff its efforts, according to people familiar with the matter. No decision has been made on whether to pursue a tender offer, the price it would be put forth at, or when it would do so, the people said, asking not to be identified because the matter is private.The push to replace the board marks an escalation of the simmering tensions between the two hardware giants that have withered in a world increasingly driven by software. Xerox has argued the tie-up would revive both companies and unlock about $2 billion in synergies.“These nominations are a self-serving tactic by Xerox to advance its proposal, which significantly undervalues HP and creates meaningful risk to the detriment of HP shareholders,” HP said in a statement.HP said that it would review Xerox’s nominees and respond in due course. It also said that it was committed to serving the best interests of all shareholders, and that it had many avenues that it could pursue to create value. Those efforts are not dependent on a combination with Xerox, it said.Activist shareholder Carl Icahn, who owns about 11% of Xerox and has a 4.3% stake in HP, has pushed for the tie-up.HP said Thursday it believed Xerox’s proposal to acquire HP was being driven by Icahn. The billionaire has considerable influence over Xerox because he is its largest shareholder, the role he played in appointing Xerox’s CEO, who was a former consultant to Icahn, and the ties he has to members of the board, including its chairman, who is also the chief executive officer of Icahn Enterprises, HP said.“Due to Mr. Icahn’s ownership position, he would disproportionately benefit from an acquisition of HP by Xerox at a price that undervalues HP,” the company said, adding that his interests were not aligned with those of other HP shareholders.A representative for Icahn wasn't immediately available for comment.HP’s board currently has 12 members. Dion Weisler, the former chief executive officer of the company, has said he would step down at the next annual general meeting, which the company said would reduce the board size to 11. Its last annual meeting was on April 23.HP in November rebuffed an unsolicited, cash-and-stock offer from Xerox, citing concerns about the financial health of its smaller rival, which has experienced declining annual revenue since 2012.HP’s board said it was open to exploring a merger, but believed the offer undervalued the company.Xerox announced Jan. 6 that it had arranged a $24 billion loan with a group of banks to finance the takeover. HP and its advisers had questioned Xerox’s ability to raise the money for the deal.Following the financing announcement, HP said it believed the offer still undervalued the company.Xerox’s director nominees are:Betsy Atkins, CEO of Baja Corp.George Bickerstaff, co-founder and managing director of M.M. Dillon & Co.Carolyn Byrd, CEO of GlobalTech Financial.Jeannie Diefenderfer, who spent 28 years at Verizon.Kim Fennebresque, who was CEO of Cowen Group for nine years.Carol Flaton, who has served as a managing director at AlixPartners.Matthew Hart, who most recently served as president and chief operating officer of Hilton Hotels until the buyout of Hilton by Blackstone in 2007.Fred Hochberg, who was most recently the chairman and president of the Export-Import Bank of the United States during the Obama administration.Jacob Katz, who was chairman of Grant Thornton.Nichelle Maynard-Elliott, who most recently served as executive director of mergers & acquisitions for Praxair Inc.Thomas Sabatino, Jr. who most recently served as executive vice president and general counsel of Aetna Inc.Citigroup Inc. is acting as Xerox’s financial advisor, and King & Spalding LLP is providing legal counsel to Xerox. Willkie Farr & Gallagher LLP is providing legal counsel to Xerox’s independent directors.(Updates with additional company comments starting in paragraph eight)To contact the reporter on this story: Scott Deveau in New York at email@example.comTo contact the editors responsible for this story: Liana Baker at firstname.lastname@example.org, Matthew Monks, Molly SchuetzFor 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.
HP Inc. said Thursday Xerox Corp. slate of board candidates is a "self-serving" tactic from billionaire investor Carl Icahn to push an acquisition that "significantly undervalues" the company. "We believe that Xerox's proposal and nominations are being driven by Carl Icahn, and his large ownership position in Xerox means that his interests are not aligned with those of other HP shareholders," HP said in a statement. "Due to Mr. Icahn's ownership position, he would disproportionately benefit from an acquisition of HP by Xerox at a price that undervalues HP." Icahn owns significant stakes in both HP and Xerox. Earlier Thursday, Xerox proposed a slate of 11 board members to replace HP's board. A proxy battle has been brewing ever since Xerox offered $33 billion for HP, which the company rebuffed.
HP (ticker: HPQ) has repeatedly rejected a recent $22-a-share takeover bid from Xerox (XRX) as too low. “HP shareholders have told us they believe our acquisition proposal will bring tremendous value, which is why we lined up $24 billion in binding financing commitments and a slate of highly qualified director candidates,” Xerox CEO John Visentin said in statement. Xerox has asserted that a combination of the two companies would yield considerable cost synergies, although their product sets have limited overlap.