|Bid||0.00 x 800|
|Ask||0.00 x 1200|
|Day's Range||37.89 - 39.20|
|52 Week Range||18.58 - 39.38|
|Beta (3Y Monthly)||1.76|
|PE Ratio (TTM)||13.53|
|Forward Dividend & Yield||1.00 (2.57%)|
|1y Target Est||N/A|
A common theme on the show when talking about a particular issue is whether or not there is a catalyst present to move an issue up or down. The catalyst for Alibaba (NYSE: BABA) was the results from the Nov. 11 Singles Day event taking place. Although the issue was trading in the red, co-host Dennis Dick revealed how he traded the issue from the long-side that was yielding him a positive return.
Shares of HP Inc. were rising 0.8% to $19.67 Monday after analysts at RBC Capital upgraded the stock to outperform from in-line while also raising their price target to a Wall Street high of $24 a share from $19. The firm is bullish on the company as it believes that a potential merger with Xerox , as has been rumored over the past week, creates pressure on the management to maximize value for shareholders. Bloomberg reported Monday that Xerox was prepared to offer HP four weeks for both sides to examine one another's books.
(Bloomberg) -- Xerox Holdings Corp. is prepared to offer HP Inc. almost a month for the companies to examine each other’s books as it seeks to win over the computer and printer maker for a takeover offer, according to people familiar with the matter.Xerox, one of the biggest sellers of photocopiers, is willing to give HP four weeks of mutual due diligence so the companies can weigh the merits of the $22-a-share cash-and-stock deal as well as the envisioned cost savings of such a combination, said the people, who asked not to be identified because discussions are private.Whether the time or scope of the access to one another will be sufficient to for HP to agree to enter discussions with its smaller rival is unclear. People familiar with the matter said, however, that HP had offered Xerox a non-disclosure agreement in September, typically a precondition of due diligence, which had been refused.The people added that while both HP and Xerox have acknowledged privately there is some rationale for combining, there are potentially intractable disagreements about which should be the buyer and which the seller, which management team should run the pro forma company, and which has a healthier underlying business.Xerox, which had a market value of about $8 billion at the close of trading on Tuesday, is pushing ahead with a plan to acquire and manage bigger rival HP, which was worth about $27.3 billion before news broke on the potential deal. The offer of $22 a share is a premium of about 20% to HP’s close Tuesday.A representative for HP declined to comment. Caroline Gransee-Linsey, a spokeswoman for Xerox, didn’t immediately return a call and email outside of normal business hours.HP confirmed last Wednesday that Xerox made a takeover offer a day earlier, a potential union of two iconic brands that would reshape the printing industry. The pair have had conversations about a potential combination “from time to time,” Palo Alto, California-based company HP said in that statement. “We have a record of taking action if there is a better path forward and will continue to act with deliberation, discipline and an eye toward what is in the best interest of all our shareholders.”Citigroup Inc. has agreed to provide Xerox financing to swallow HP, a person familiar with the matter said. The company would likely need to take on at least $20 billion of debt to close the deal.HP, one of the world’s largest printer makers, and Norwalk, Connecticut-based Xerox are struggling as waning interest in office and consumer printing blunts their most profitable businesses. HP also has contended with a stagnant PC market.Xerox Deal for HP Would Just Be a Way to Print Money: Alex WebbBoth have responded with significant cost-cutting measures. HP’s new Chief Executive Officer Enrique Lores announced another restructuring that could remove as much as 16% of the workforce by the end of fiscal 2022, amid falling sales in printer ink. Xerox said it plans to cut $640 million in expenses this year. The copy-machine company expects a combined Xerox-HP entity could save at least $2 billion in expenses, according to the Wall Street Journal.Since splitting from server maker Hewlett Packard Enterprise Co. in 2015, HP has avoided big mergers and acquisitions. HP did, however, spend $1.05 billion for Samsung Electronics Co.’s printer unit to bolster its presence in the $55 billion photocopier market, where Xerox has excelled.\--With assistance from Caleb Melby.To contact the reporter on this story: Ed Hammond in New York at email@example.comTo contact the editors responsible for this story: Aaron Kirchfeld at firstname.lastname@example.org, Kevin Miller, Josh FriedmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The proposal consists of $17 in cash plus 0.137 of a Xerox share, and amounts to a 21% premium to HP’s (HPQ) price before the offer. There’s skepticism about getting the deal done; HP shares closed the week at $19.52. Both Xerox and HP have seen better days.
Xerox Holdings Corp. said Friday it closed its previously announced deals with Japan-based Fujifilm Holdings Corp. , which will net Xerox about $2.3 billion. Xerox said it plans to use the proceeds "opportunistically to pursue accretive M&A" in core and adjacent industries, return capital to shareholders and pay down the $554 million in debt that matures in December. Earlier this week, HP Inc. confirmed it received a buyout bid from Xerox. HP's market capitalization as of Thursday's close was $28.7 billion while Xerox's market cap was $8.2 billion. The deals that closed Friday with Fujifilm include the sale of Xerox's 25% stake in Fuji Xerox, modified sourcing terms for future product programs, the sale of Xerox's 51% stake in the Xerox International Partners joint venture and the dismissal of the $1 billion lawsuit Fujifilm filed against Xerox after their merger was terminated last year. Xerox's stock, which was unchanged in premarket trading, has run up 89% year to date, while the S&P 500 has gained 23%.
The California utility reported a third-quarter loss—and said that this year, it will take bigger writedowns for wildfire costs than it had expected. PG&E (ticker: PCG) has been in bankruptcy court since January. It filed to deal with the potential costs of the deadly wildfires its equipment started in 2017 and 2018.
(Bloomberg) -- HP Inc.’s board is still deliberating over a $33 billion takeover proposal from Xerox Holdings Corp., people familiar with the matter said, adding uncertainty to a potential blockbuster deal that would reshape the printing industry.HP’s board is trying to create the most value for shareholders and isn’t yet convinced a sale to Xerox is the right move, said the people, who asked not to be identified discussing HP’s private deliberations. The board doesn’t feel any pressure to respond quickly, the people added. Xerox wants to receive an answer within a week to the $22 per share cash-and-stock offer made Tuesday, according to people familiar with Xerox’s thinking.Palo Alto, California-based HP confirmed in a statement Wednesday that it had received an offer, but didn’t comment on its level of support for a combination. The second-biggest maker of personal computers pledged to do “what is in the best interest of all our shareholders.”HP, one of the world’s largest printer makers, and Xerox, one of the biggest sellers of photocopiers, are struggling as waning interest in office and consumer printing has blunted both companies’ most profitable businesses. HP also has contended with a stagnant PC market.Both hardware makers have responded to the changing markets by cutting costs. HP’s new Chief Executive Officer Enrique Lores announced another restructuring that could remove as much as 16% of the workforce by the end of fiscal 2022, amid falling sales in its lucrative printer ink business. Xerox said it plans to cut $640 million in expenses this year. The copy-machine company, based in Norwalk, Connecticut, expects a combined Xerox-HP entity could save at least $2 billion in expenses, the people said.Xerox began building the business case for an HP acquisition months ago, said the people, who asked not to be identified discussing the strategy. The company sees a combined entity having enough market share in printers and photocopiers to rival Canon Inc., which has a significant presence in both markets, they said. Ricoh Co., another Japanese company, would be another major rival.What Bloomberg Intelligence Says“A merger with HP would create a behemoth printing and PC maker with nearly $70 billion in revenue. Though top-line growth challenges may remain in the intermediate term, synergies could help boost annual free cash toward $5 billion and enable future deleveraging.”\--Robert Schiffman, technology analystWith the unwinding this week of its half-century long joint venture with Fujifilm Holdings Corp., Xerox has lost a major distribution channel in Asia. HP has a large presence in Asia and can give Xerox a sales organization across the region, the people said. Xerox expect its dedicated sales staff for small and mid-sized businesses in the U.S. can help boost HP product revenue. A combined company would be able to sell or offer a subscription, for example, to Xerox photocopiers, HP printers and personal computers to those customers, the people said.A Xerox spokeswoman didn’t immediately respond to a request for comment. An HP spokeswoman declined to comment.The proposal made on Tuesday would give $17 a share to HP holders, as well as 0.137 Xerox shares for each HP share, for a combined estimated value of $22 a share, the people said. The Wall Street Journal reported the specifics of the offer earlier.(Updates with HP’s decline to comment in the eighth paragraph.)To contact the reporter on this story: Nico Grant in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Andrew Pollack, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
“Our industry is long overdue for consolidation, and those who move first will have a distinct advantage,” said Xerox, which has made a bid to buy rival HP.
On Wednesday traders got to react to news that Xerox Holdings Corp. was looking to merge with Hewlett Packard . That makes a lot of sense, Jim Cramer said during his Mad Money program, but there's little chance HP will be interested in a merger.
Xerox shares extended gains Thursday, rising to the highest level in more than five years, after reports suggested the printer and computer focused tech group would be prepared to pay more than $32.5 billion for HP.
(Bloomberg) -- HP Inc. confirmed that Xerox Holdings Corp. has made a takeover offer, a potential deal between two iconic names in technology that would reshape the printing industry.“We have had conversations with Xerox Holdings Corporation from time to time about a potential business combination,” the Palo Alto, California-based company said Wednesday in a statement. “We received a proposal transmitted yesterday. We have a record of taking action if there is a better path forward and will continue to act with deliberation, discipline and an eye toward what is in the best interest of all our shareholders.”Citigroup Inc. has agreed to provide Xerox financing to swallow HP, a person familiar with the matter said. The company would likely need to take on at least $20 billion of debt to close the deal, which was reported earlier by the Wall Street Journal. HP’s market capitalization was about $27.3 billion at the close of trading on Tuesday, while Xerox’s was $8 billion, before news broke of the potential deal. Xerox had extended an offer at $22 a share, the Financial Times reported, a premium of about 20% to HP’s close Tuesday, before news of a potential takeover emerged.HP hasn’t decided whether the Xerox offer is the right deal, according to a person familiar with HP’s thinking. The PC maker doesn’t agree with Xerox on the potential synergies and has concerns about the debt needed for a deal, said the person, who asked not to be identified speaking publicly about internal talks. Even if HP decides a combination is worthwhile, it isn’t convinced Xerox has the relevant experience for a complex merger and doesn’t think Xerox should be the buyer, the person said.HP, one of the world’s largest printer makers, and Xerox, one of the biggest sellers of photocopiers, are struggling as waning interest in office and consumer printing has blunted both companies’ most profitable businesses. HP also has contended with a stagnant PC market.Xerox Deal for HP Would Just Be a Way to Print Money: Alex WebbBoth hardware makers have responded to the changing markets with significant cost-cutting measures. HP’s new Chief Executive Officer Enrique Lores announced another restructuring that could remove as much as 16% of the workforce by the end of fiscal 2022, amid falling sales in its lucrative printer ink business. Xerox said it plans to cut $640 million in expenses this year. The copy-machine company, based in Norwalk, Connecticut, expects a combined Xerox-HP entity could save at least $2 billion in expenses, according to the Journal.“Financing a $30 billion HP transaction with mostly debt may be challenging for Xerox, but not an insurmountable obstacle,” Robert Schiffman, an analyst at Bloomberg Intelligence, wrote Wednesday in a note.In its statement, HP expressed confidence in its plan for the future.“We have great confidence in our multi-year strategy and our ability to position the company for continued success in an evolving industry, particularly given the multiple levers available to drive value creation,” HP said.Since splitting from server maker Hewlett Packard Enterprise Co. in 2015, HP has avoided big mergers and acquisitions. The company has focused on financial discipline, minimizing debt and returning capital to shareholders in an operating template set by former Hewlett-Packard Co. CEO Meg Whitman. HP did, however, spend $1.05 billion for Samsung Electronics Co.’s printer unit to bolster its presence in the $55 billion photocopier market, where Xerox has excelled.Separately, Xerox announced Tuesday that it would get $2.3 billion from longtime partner Fujifilm Holdings Corp. for its stake in their joint venture, Fuji Xerox. The U.S. company had indicated since last year that it intended to end its ties with the Japanese company after a complex merger transaction fell apart.(Updates with reported bidding price from the third paragraph)To contact the reporters on this story: Nico Grant in San Francisco at email@example.com;Ed Hammond in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, ;Liana Baker at firstname.lastname@example.org, Andrew Pollack, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(HPQ) (ticker: HPQ) confirmed Wednesday afternoon it has received a proposal from (XRX) (XRX) about a potential business combination between the two companies—and that it has had discussions about a possible transaction in the past. “[W]e have had conversations with Xerox Holdings (XRX) from time to time about a potential business combination,” the company said in a statement. On Tuesday, The Wall Street Journal had reported that the Xerox board had discussed a potential bid for HP, in a deal that would combine two large but fading technology giants with a particular focus on the printer market.
HP Inc. confirmed late Wednesday it received a proposal from Xerox Holdings Corp. on Tuesday. That was the most recent of the several "conversations" with Xerox "about a potential business combination," HP said in a statement. "We have considered, among other things, what would be required to merit a transaction," it said. The Wall Street Journal reported late Tuesday that Xerox was mulling over a potential buyout bid for HP that would be below $23 a share. HP shares gained 1.1% in the extended session Wednesday, while shares of Xerox were flat. The stocks gained 6.4% and 3.6% in the regular trading day.
Printer and copier maker Xerox is considering making an offer to buy PC and printer maker HP in a deal that would combine two storied names in the tech field. HP stock rose on the news.
HP Inc (NYSE: HPQ) shares jumped higher by 10% on Wednesday on reports that Xerox Holdings Corp (NYSE: XRX) has made a buyout offer for HP. Jon Najarian’s MarketRebellion picked up on unusual bullish call buying activity in HP on Tuesday afternoon and issued an alert to subscribers at 3:37 p.m. A trader had purchased 2,200 weekly HP call options expiring on Friday with an $18.50 strike price at prices of between 11 cents and 14 cents per contract. “It would appear some news of the potential tie-up leaked, as our HeatSeeker picked up strong buying of HPQ weekly (November 8th expiry) 18.50 calls yesterday for $.11 to $.14,” Najarian told Benzinga.
The medical technology company, which makes portable oxygen concentrators, is one of our top stocks to watch in our Charts of the Day video from last night. The stock began breaking out of a two-month base in mid-October, up from the $45 range, and, with Tuesday’s pop of $1.62 to $59.32 and after-hours move into the mid-$60’s, it has appeared poised to accelerate. Watch for the stock in the maker of aesthetic medical products and recent IPO to reach the top of the rising channel in the $45 range.
In addition to covering the after-hours and pre-market action, the PreMarket Prep Show emphasizes trading education and helps investors hone their current strategies as well as create new ones. This is in contrast to the past few years, when growth stocks have been in favor and value stocks have been out of favor. Before the open, it was reported Xerox Holdings Corp (NYSE: XRX) was considering buying HP Inc (NYSE: HPQ) in a cash and stock deal.
Shares of HP Inc. rallied 9.5% in midday trading, but pared earlier gains of as much as 18%, after The Wall Street Journal reported that the potential buyout bid from Xerox Holdings Corp. would be below $23 a share. The stock's intraday was $21.67. The WSJ had reported late Tuesday that Xerox was mulling a move to buy HP. Xerox's shares gained 2.9%, to lift the printing and digital document company's market capitalization to $8.20 billion, compared with HP's market cap of $29.87 billion. HP shares have lost 19% over the past 12 months, while Xerox's stock has run up 29% and the S&P 500 has gained 11%.
Xerox is eyeing a takeover of HP, according to the Wall Street Journal. Yahoo Finance’s Zack Guzman and Sibile Marcellus discuss with ‘Morning Brew’ Business Editor and Podcast Host Kinsey Grant.