HPQ - HP Inc.

NYSE - NYSE Delayed price. Currency in USD
17.07
+0.07 (+0.41%)
At close: 4:04PM EDT
Stock chart is not supported by your current browser
Previous close17.00
Open17.24
Bid17.08 x 1300
Ask17.16 x 3000
Day's range16.99 - 17.59
52-week range12.54 - 23.93
Volume10,072,837
Avg. volume15,818,270
Market cap24.409B
Beta (5Y monthly)1.01
PE ratio (TTM)8.36
EPS (TTM)2.04
Earnings date20 Aug 2020 - 24 Aug 2020
Forward dividend & yield0.70 (4.13%)
Ex-dividend date08 Sep 2020
1y target est17.71
  • If 2020 Weren't Strange Enough, Printers Are Staging a Comeback
    Bloomberg

    If 2020 Weren't Strange Enough, Printers Are Staging a Comeback

    (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.

  • Microsoft Pauses Facebook, Instagram Advertising Spending
    Bloomberg

    Microsoft Pauses Facebook, Instagram Advertising Spending

    (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.

  • HP CEO: 'We are a purpose driven brand'
    Yahoo Finance

    HP CEO: 'We are a purpose driven brand'

    HP CEO Enrique Lores chats with Yahoo Finance about diversity and the future of the PC and printer maker.

  • Your home is an office in the 'new normal'
    Yahoo Finance AU

    Your home is an office in the 'new normal'

    Coronavirus moves small business gear to your home.

  • GlobeNewswire

    HP Inc. Announces Termination of Shareholder Rights Plan

    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.

  • Why Is HP (HPQ) Up 9.1% Since Last Earnings Report?
    Zacks

    Why Is HP (HPQ) Up 9.1% Since Last Earnings Report?

    HP (HPQ) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • GlobeNewswire

    HP Inc. Board Declares Dividend

    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.

  • GlobeNewswire

    HP Releases Annual Sustainable Impact Report

    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.

  • GlobeNewswire

    HP Inc. Announces Redemption of Notes

    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.

  • China’s $136 Billion E-Commerce Haul Signals a Consumer Comeback
    Bloomberg

    China’s $136 Billion E-Commerce Haul Signals a Consumer Comeback

    (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.

  • HP Rolls Out New Printer, Eyes Remote-Working Opportunity
    Zacks

    HP Rolls Out New Printer, Eyes Remote-Working Opportunity

    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.

  • GlobeNewswire

    HP Inc. Announces Expiration and Results of its Debt Tender Offers

    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”).

  • GlobeNewswire

    HP Unveils Its Best Family Printer

    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) Prices Senior Notes Offerings Worth $3 Billion
    Zacks

    HP (HPQ) Prices Senior Notes Offerings Worth $3 Billion

    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.

  • GlobeNewswire

    HP Inc. Announces Pricing of Senior Notes

    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”).

  • GlobeNewswire

    HP Inc. Announces Amendment to Financing Condition Related to Debt 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”).

  • GlobeNewswire

    HP Inc. Announces Debt Tender Offers

    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”).

  • HP (HPQ) Fortifies 3D Printing Capabilities With New Steps
    Zacks

    HP (HPQ) Fortifies 3D Printing Capabilities With New Steps

    HP (HPQ) partners with key companies and introduces new PP material for 3D printing.

  • Bloomberg

    HP Scores $439 Million Win on Quanta’s Factories, Patents

    (Bloomberg) -- HP Inc. will get to keep all the cash, factories and patents Quanta Storage Inc. was ordered to turn over to satisfy a $439 million antitrust judgment from 2019, a federal appeals court ruled.The Taiwanese disk drive maker was ordered to surrender almost all its assets before its appellate challenge had played out because it failed to post an $85 million bond to prevent early collection of the crippling award. The appellate court did agree to give it more time to comply.“Quanta risked bet-the-company litigation and lost, so the district court ordered it to hand over the company,” a three-judge panel of the Court of Appeals in New Orleans said Friday in a 21-page ruling.Quanta tried repeatedly in April to delay HP’s push to collect on the judgment. It claimed that coronavirus travel and business restrictions in Taiwan and China, where most of its executives and factories are, prevented it from posting the bond while complying with Taiwanese regulations on asset transfers by publicly traded companies. HP said Quanta was using the pandemic as a ploy to dissipate assets that could be used to satisfy the judgment.“It is not apparent from the record that the district court considered the amount of time it would take for Quanta to complete the asset transfer process required by Taiwanese law,” the panel said Friday.‘Cannot Go Unpunished’HP said it was pleased that the panel agreed with the trial judge and jury.“Quanta violated U.S. antitrust laws by conspiring to fix prices,” Alex Roberts, one of HP’s lawyers, said in an email. “That conduct cannot go unpunished. HP took them to task for those violations, and now we look forward to ensuring they comply promptly” with the turnover orders.Quanta said in an exchange filing in Taiwan on Sunday that the company will file a petition for the case to be reheard en banc. It will also discuss with its lawyers the procedure of the U.S. Supreme Court appeal in the case. The impact on the operations is yet to be evaluated, Quanta said.A Houston jury awarded HP $176 million in damages after a price-fixing trial in late 2019. Quanta was the only optical disk drive maker that didn’t settle out of court when HP sued more than a dozen manufacturers over a decade-long conspiracy to rig prices for components used to store and read media and data on DVDs, CDs and Blu-Ray discs. Industry giants including Toshiba Corp., Samsung Electronics, Hitachi-LG and Sony Electronics jointly controlled 90% of the market.Damages TripledAfter the jury tagged Quanta with all of HP’s losses from the racket, U.S. District Judge David Hittner in Houston compounded Quanta’s woes by tripling the damages, as allowed under U.S. antitrust law, subtracting settlement credits HP had already received.On appeal, Quanta argued that the damages were incorrectly calculated at trial because jurors included purchases by HP’s foreign subsidiaries, which Quanta claimed aren’t covered by U.S. antitrust protections. HP said its economic expert excluded purchases by the foreign units, and the appeals court agreed, upholding the money judgment.Quanta, which has surrendered some assets to a court custodian, had sought more time to comply with Taiwanese regulations before turning over the keys to its Asian factories. It had also said it needs to make sure the HP judgment is enforceable under local law before complying with an overseas court order that essentially liquidates the company.It urged the courts to respect international comity and require HP to confirm the judgment in Taiwanese courts -- or risk retaliation by foreign judges who might strip American companies of the protection of U.S. courts in overseas disputes. The appeals court rejected those arguments.The case is Hewlett-Packard Co. v. Quanta Storage Inc., 19-20799, U.S. Court of Appeals for the Fifth Circuit (New Orleans).(Updates with Quanta Storage comment in eighth 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.

  • Shareholder Alert: Robbins LLP Announces It Is Investigating HP Inc. (HPQ) for Misleading Shareholders
    Business Wire

    Shareholder Alert: Robbins LLP Announces It Is Investigating HP Inc. (HPQ) for Misleading Shareholders

    Shareholder rights law firm Robbins LLP announces that it is investigating HP Inc. (NASDAQ: HPQ) for alleged violations of the Securities Exchange Act of 1934 and whether the Company's officers and directors breached their fiduciary duties to shareholders. HP provides personal computing and other access devices, printing products, and related technologies and services.

  • GlobeNewswire

    HP Introduces First of Its Kind Polypropylene Material to Expand 3D Printing Market and Enable New Applications

    News highlights:                                 New HP 3D High Reusability Polypropylene (PP) enabled by BASF anchors expanded alliance; HP also collaborating with Extol, GKN.

  • GlobeNewswire

    HP and BASF Expand Industrial Alliance to Advance Digital Manufacturing

    News highlights: World’s leading chemical company BASF collaborates with technology leader HP to transform manufacturing with innovative new materials, joint development of.

  • GlobeNewswire

    OECHSLER and HP Partner to Scale 3D Printing Applications for Industry Leaders

    News highlights: New industrial alliance to help market leading customers across automotive, home and commercial appliances, and medical industries expand digital.

  • HP Fails to Capitalize on Surging Demand for PCs During the COVID-19 Crisis
    Motley Fool

    HP Fails to Capitalize on Surging Demand for PCs During the COVID-19 Crisis

    HP (NYSE: HPQ) recently posted its second-quarter earnings, and the results didn't impress investors. The PC and printer maker's revenue fell 11% annually to $12.5 billion, missing estimates by $240 million.