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Hewlett Packard Enterprise tops earnings expectations

Hewlett Packard Enterprise tops earnings expectations

The technology company posted adjusted fiscal first-quarter earnings of 41 cents per share on $ 12.72 billion in revenue. Analysts had expected Hewlett Packard Enterprise to report earnings of about 40 cents a share on $ 12.68 billion in revenue, according … Continue reading at cnbc.com

Staples Earnings, Revenues Miss Estimates

Staples released its fourth quarter earnings report before opening bell this morning, posting adjusted earnings of 26 cents per share and sales of $ 5.23 billion. Fourth Swedish National Pension Fund now owns 130,424 shares of the company’s stock worth $ … Continue reading at bsccomment.com

H&R Block (HRB) Earnings Report: Q3 2016 Conference Call Transcript

The following H&R Block (HRB – Get Report) conference call took place on March 3, 2016, 04:30 PM ET. This is a transcript of that earnings call: At this time, I would like to welcome everyone to the fiscal third-quarter earnings conference call. Continue reading at thestreet.com

Earnings Reports

3 Key Takeaways From Rio Tinto’s Earnings Report

Under pressure from the iron ore bear market, commodity blue chip Rio Tinto (NYSE:RIO) turned in a disappointing 2015. Because commodity prices have declined so markedly, Rio Tinto’s consolidated revenue fell 27% to $ 34.8 billion for the full year, and … Continue reading at fool.com

HP Enterprise shares surge after strong earnings report

Hewlett-Packard Enterprise, or HP Enterprise’s first quarter reported as an independent company marked a revenue decline of 3% year-over-year to $ 12.7 billion, with diluted net earnings per share of 15 cents, down from 30 cents in the same period a year ago. Continue reading at youngherald.com

Earnings Reports

Nimble Reports 4Q Earnings

Nimble Storage has had a rough go of it lately. Their third quarter earnings were below expectations, which pulled down its stock price and didn't do any favors to other tech stock prices such as Pure Storage's. Then last month Nimble was hit with a … Continue reading at storagereview.com

VW will report earnings on April 28 after emissions scandal leads to delay

FRANKFURT (Bloomberg) — Volkswagen Group set new dates for its annual earnings press conference and shareholders meeting, indicating the scandal-hit company has made progress in sorting through the financial issues that caused the company to postpone the … Continue reading at europe.autonews.com

ProNAi Therapeutics Inc (DNAI) Stock Price Up 10.6% on Strong Earnings

ProNAi Therapeutics Inc (NASDAQ:DNAI)'s share price traded up 10.6% during mid-day trading on Friday following a stronger than expected earnings report, ARN reports. The company traded as high as $ 7.16 and last traded at $ 7.09, with a volume of 88,249 … Continue reading at mideasttime.com

HPE Earnings Improve, but Stronger Dollar Obscures Success

It simply depends upon which view someone takes. Stock Was Helped by Earnings Report HPE shares jumped 7 percent in after-hours trading to about $ 14.50, so that, too, was good news for the company and its investors. “We delivered a third consecutive … Continue reading at eweek.com

Career earnings of low-income graduates lag, study says

“The earnings gap between the poor and nonpoor college graduates also widened as time passed,” Hershbein said in a recent report for the Brookings Institution. Immediately after college, the pay the low-income grads received was about a third lower than … Continue reading at chicagotribune.com

* NEW YORK (AP) — Hewlett-Packard is splitting itself into two companies, one focused on its personal computer and printing business and another on technology services, such as data storage, servers and software, as it aims to drive profits higher.

The company laid off tens of thousands of people in recent years as sales crumbled, with customers shifting to mobile devices like smartphones and computer tablets. That has drastically curbed demand for HP’s desktop and laptop computers, as well as its printers.

The company said Monday that the PC and printer business will use the name HP Inc. The services business will be called Hewlett-Packard Enterprise.

HP CEO Meg Whitman will lead the Enterprise business. HP PC and printer chief Dion Weisler will be CEO of HP Inc.

“The decision to separate into two market-leading companies underscores our commitment to the turnaround plan,” Whitman said. “It will provide each new company with the independence, focus, financial resources, and flexibility they need to adapt quickly to market and customer dynamics.”

Cantor Fitzgerald’s Brian White said that there are numerous reasons why HP would want to split the businesses, including the slowdown of the PC market since the iPad debuted in April 2010. While the PC market has shown some improving trends this year, White said in a client note that separating into two companies gives HP the option to sell off one or both businesses if an attractive offer is made.

The split, if approved by the company board, is expected to close by the end of fiscal 2015. Once complete, HP stockholders will own shares of both companies.

During its most recent quarter HP reported revenue of .6 billion, a 1 percent annual gain. It marked HP’s first year-over-year increase in quarterly revenue since late 2011. Printers and computers contributed 51 percent of the company’s quarterly revenue, with the rest coming from technology services like consulting, software and financial programs.

HP is expected to complete the latest round of layoffs, between 11,000 to 16,000 people, this month. That is on top of the 34,000 people it had already jettisoned from its payroll.

Another tech stalwart announced a split this month. In a bid to drive growth, eBay Inc. said it would spin off its mobile payment service PayPal into a separate and publicly traded company. Investors sent eBay shares up more than 7 percent on the day of the announcement.

Jim Suva of Citi Investment Research said that HP’s announcement may be coming now partly because the stock market has been supportive of spinoffs of late. The analyst also believes the company’s stronger balance sheet, stable PC margins, improving services margins, better financials and completion of the more difficult parts of its restructuring efforts played a role in its decision to act now.

HP maintained its guidance for fiscal 2014 adjusted earnings between .70 and .74 per share. Analysts polled by FactSet predict earnings of .73 per share.

For fiscal 2015, the company anticipates adjusted earnings in a range of .83 to .03 per share. Wall Street is looking for .96 per share.

Shares of Hewlett-Packard Co., based in Palo Alto, California, gained .80, or 5.1 percent, to in premarket trading two hours before the market open.

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