starbuxsux
5 years ago
Good questions...
https://www.forbes.com/sites/johndorfman/2020/02/03/hp-progressive-value-momentum/#41483d1546c1
In 2015, Hewlett-Packard Co. split into Hewlett-Packard Enterprise (HPE) and HP (HPQ). The former, which provides software and services to large companies, is generally considered the sexy half. HP, which makes personal computers, printers and ink cartridges, is deemed dull.
But HP hasn’t been dull lately. Its stock is up 18% in the past three months. Despite the run-up, HP shares sell for only 10 times earnings, in a market where the average multiple is 26. It’s hard for me to love a company whose book value (corporate net worth) is negative. At HP, liabilities exceed assets by $1.19 billion, or 81 cents a share. Excluding intangibles such as goodwill, book value is negative $5.55 a share.
So, I don’t love this stock—but I like it, and not only because of the modest valuation. The company has been whittling down its debt. It pays dividends reliably, and currently offers a dividend yield near 3%.
Carl Icahn, a major shareholder, is agitating for a merger with Xerox, of which he is an even larger shareholder. He estimates the potential cost savings from a merger at $2 billion.
starbuxsux
5 years ago
HP Yet Again Rejects Xerox Takeover Offer -- Barrons.com
10:10 AM ET 1/9/20 | Dow Jones
By Eric J. Savitz
HP Inc. once again has rejected the $22-a-share unsolicited takeover bid from Xerox Holdings as too low.
Earlier this week, Xerox (ticker: XRX) announced that it has lined up financing for the cash portion of its offer for the rival printer company, which consists of $17 a share and the remainder in Xerox shares. But HP (HPQ) on Wednesday said its board continues to find the Xerox bid inadequate.
"We reiterate that the HP Board of Directors' focus is on driving sustainable long-term value for HP shareholders," HP CEO Enrique Lores and Chairman Chip Bergh wrote Wednesday in a letter to Xerox CEO John Visentin. "Your letter dated January 6, 2020 regarding financing does not address the key issue -- that Xerox's proposal significantly undervalues HP -- and is not a basis for discussion. The HP Board of Directors remains committed to advancing the best interests of all HP shareholders and to pursuing the most value-creating opportunities."
Xerox initially made the offer to HP in November, and HP has repeatedly rejected it as both too low and too risky given the substantial borrowings Xerox would require to complete the proposed transaction.
The question for Xerox is whether it is prepared to launch a proxy contest for control of the HP board ahead -- or to launch a hostile tender offer.
HP shares were up 0.6% in recent trading, at $21.06, after closing up 1.3% on Wednesday. The S&P 500 was up 0.5% in recent trading.
Write to Eric J. Savitz at eric.savitz@barrons.com
> Dow Jones Newswires
January 09, 2020 10:10 ET (15:10 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
starbuxsux
5 years ago
Carl Icahn Bought HP Stake Knowing of Xerox Bid Plans, Fund Says
Bloomberg
Chris Dolmetsch,Bloomberg•December 14, 2019
(Bloomberg) -- A Xerox Holdings Corp. shareholder sued Carl Icahn and an investment vehicle he controls, alleging they bought $1.2 billion worth of HP Inc. shares knowing that Xerox was considering acquiring the stock at a premium.
The Miami Firefighters Relief and Pension Fund filed the lawsuit in New York state court in Manhattan on Friday, alleging Icahn, Icahn Capital LP and High River Limited Partnership breached their fiduciary duties to Xerox by buying HP stock with the knowledge that “Xerox was either considering making an offer to purchase HP, had already approached HP about a possible merger into or acquisition by Xerox, or of the obvious merits of Xerox’s potential acquisition of HP.”
A representative for Icahn was not immediately available for comment.
Icahn Capital is Xerox’s largest shareholder, owning almost 11% of the stock as of September 30. Icahn late that month disclosed that Icahn Capital and High River together owned more than 62.9 million shares of HP, making Icahn the fifth-largest shareholder in the company.
A previous disclosure by Icahn in August listed no HP stock as of June 30. While the date of Icahn’s purchases were not revealed, an analyst speculated two days after the end of the third quarter that an activist investor might be targeting HP shares citing reasons including a “huge spike” in trading volume without an obvious reason, according to the suit.
HP last month rejected an unsolicited, cash-and-stock offer from Xerox worth $22 per share, or about $33 billion. Icahn earlier this month urged HP to push ahead with takeover talks, arguing the hardware maker’s standalone plans amount “to little more than rearranging the deck chairs on the Titanic.” Xerox has taken its case directly to shareholders, saying the takeover would create as much as $1.5 billion in potential revenue growth, according a presentation to investors made public earlier this week.
Read More: Icahn Urges HP to Move Forward With Xerox Merger Discussions
(Updates with details from complaint.)
--With assistance from Scott Deveau.
To contact the reporter on this story: Chris Dolmetsch in Federal Court in Manhattan at cdolmetsch@bloomberg.net
To contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Anthony Lin
For more articles like this, please visit us at bloomberg.com
©2019 Bloomberg L.P.
whytestocks
5 years ago
News: $HPQ HP Sends Letter to Xerox
PALO ALTO, Calif., Nov. 24, 2019 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) today announced that HP has sent a letter to Xerox Holdings Corporation in response to Xerox’s November 21, 2019 letter. Following is the full text of the letter that was sent on November 24, 2019: November...
Got this from HPQ - HP Sends Letter to Xerox
whytestocks
6 years ago
News: $HPQ HP Helps Brands Tap Into Print Personalization Market
PALO ALTO, Calif., Jan. 16, 2019 (GLOBE NEWSWIRE) -- HP today unveiled its framework, The Personalization Pinwheel, to help brand owners tap into the growing personalization market. Informed by insights from more than 45 million online conversations across the globe, the framework hones in ...
In case you are interested https://marketwirenews.com/news-releases/hp-helps-brands-tap-into-print-personalization-market-6924592.html
pennystock_es
9 years ago
ANDR entered into a Settlement Agreement with Hewlett-Packard
ANDR CASH 3.83M Market Value 4.65M
Year of Inc. 1934
Outstanding Shares 64,416,035
there behind the last 8-k?
ANDR has patents that are using:
Acer Inc., Acer America Corp., ASUSTeK Computer Inc., ASUS Computer International, Dell Inc., Hewlett Packard Co., Lenovo Group Ltd., Lenovo Holding Co., Inc., Lenovo (United States) Inc., Toshiba Corp., Toshiba America, Inc., Toshiba America Information Systems, Inc., and Realtek Semiconductor Corp
http://investorshub.advfn.com/boards/board.aspx?board_id=5874
On December 22, 2015, Andrea Electronics Corporation (the “Company”) entered into a Settlement Agreement with HP Inc. (“HP”). Under the Settlement Agreement the Company settled outstanding litigation between the Company and HP including Andrea Electronics Corporation v. Hewlett-Packard Co., Civ. Action No. 2:15-cv-208, pending in the Eastern District of New York and Certain Audio Processing Hardware and Software and Products Containing the Same, Inv. No. 337-TA-949, pending at the International Trade Commission (collectively, the “Litigation”). In addition, the Company and HP entered into a Patent License Agreement.
http://ih.advfn.com/p.php?pid=nmona&article=69828333&symbol=ANDR
lecorb
9 years ago
HPQ: Before the division of the company, Who owns Hewlett-Packard Company?
Dodge & Cox 196.56M $5.03B Sept. 30, 2015
Schroder Investment Management 190.15M $3.99B Sept. 30, 2013
Vanguard 111.34M $2.85B Sept. 30, 2015
STATE STREET CORPORATION 84.01M $2.15B Sept. 30, 2015
FMR 67.28M $1.72B Sept. 30, 2015
OTR - Nominee Name for The State Teachers Retirement Board of Ohio 65.75M $64.43M March 31, 2015
Capital Research Global Investors^ 61.84M $1.73B Dec. 31, 2013
BlackRock Institutional Trust Company, N.A. 46.52M $1.19B Sept. 30, 2015
PRIMECAP Management Company 43.50M $1.11B Sept. 30, 2015
State Farm Mutual Automobile Insurance Company 42.07M $1.31B March 31, 2015
Hotchkis and Wiley Capital Management 38.02M $541.83M Dec. 31, 2012
Franklin Resources 35.87M $918.52M Sept. 30, 2015
JPMORGAN CHASE & CO 35.43M $743.76M Sept. 30, 2013
ALLIANCEBERNSTEIN 32.84M $1.32B Dec. 31, 2014
Relational Investors 32.74M $686.88M Sept. 30, 2013
GOLDMAN SACHS 30.86M $647.73M Sept. 30, 2013
lecorb
9 years ago
(NYSE:HPQ) Director Rajiv Gupta acquired 80,000 shares of the company's stock in a transaction on Wednesday, December 2nd. The stock was acquired at an average cost of $12.00 per share, with a total value of $960,000.00. Following the completion of the purchase, the director now directly owns 105,766 shares in the company, valued at $1,269,192. The purchase was disclosed in a filing with the SEC, which is available at this link. Less