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HPE

HP Enterprise

$13.79

0.16 (1.17%)

18:47
09/21/17
09/21
18:47
09/21/17
18:47

HP Enterprise planning approximately 5,000 job cuts, Bloomberg reports

In part of a broader effort to pare expenses as competition mounts, Hewlett Packard Enterprise is planning to slash approximately 10% of its staff, or at least 5,000 workers, Bloomberg reports, citing people familiar with the matter. The cuts are expected to start before the end of the year, said the people, who asked not to be identified because the matter is private. The layoffs at the company, which has about 50,000 workers, are likely to affect workers in the U.S. and abroad, including managers, the people said. A Hewlett Packard Enterprise representative didn't immediately respond to requests for comment. Reference Link

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    Dec

HPE HP Enterprise
$13.79

0.16 (1.17%)

09/06/17
UBSW
09/06/17
NO CHANGE
Target $16
UBSW
Buy
HP Enterprise price target lowered to $16 from $21 at UBS
UBS analyst Steven Milunovich lowered his price target on HP Enterprise to $16 from $21 following better than expected Q3 earnings. The analyst said management provided a mixed outlook but indicated a "significant earnings lift" next year, which will be addressed at its analyst meeting on October 18. Milunovich sees share buybacks and earnings guidance as the next catalysts and likes the company's inexpensive valuation. Milunovich maintained his Buy rating on HP Enterprise shares.
09/06/17
09/06/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. HP Enterprise (HPE) downgraded to Underperform from Neutral at BofA/Merrill with analyst Wamsi Mohan citing fiscal 2018 headwinds that include increased investment, a competitive pricing environment, and higher commodity costs. 2. Marathon Petroleum (MPC) downgraded to Market Perform from Outperform at Wells Fargo with analyst Roger Read saying he now expects the incentive distribution rights buyout may be at the lower end of the prior 15-20 times range. 3. Verifone (PAY) downgraded to Neutral from Buy at Northcoast with analyst Keith Housum saying he has reduced confidence in the company's ability to grow revenues and increase profitability given the delay in reaching the point of sale market with its new Carbon and Engage platform compared to initial expectations. 4. Mallinckrodt (MNK) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst David Risinger saying he believes yesterday's unfavorable district court ruling in Mallinckrodt's suit against Praxair (PX) has increased the risk of an Inomax generic potentially as soon as October 2018, compared to his prior expectation of 2031. 5. BHP Billiton (BHP) downgraded to Underperform from Neutral at Exane BNP Paribas. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/12/17
NEED
09/12/17
NO CHANGE
NEED
Gigamon outlook positive, shares could reach $55-$60, says Needham
After media outlets reported that Elliott Management's private equity arm had submitted a bid to acquire Gigamon (GIMO), Needham analyst Alex Henderson believes that there are "three likely outcomes" to the situation: Gigamon will be acquired by private equity firms for $50+; Gigamon becomes a takeover target for strategic players such as F5 (FFIV), Oracle (ORCL), HP (HPE), and Juniper (JNPR);, or the company reports strong Q3 and Q4 results and the stock rallies. The analyst says that the stock could reach $55-$60 if a bidding war materializes. He reiterates a $50 price target and a Buy rating on the shares.
09/18/17
BERN
09/18/17
NO CHANGE
BERN
HP investors likely to push for cost optimization, higher returns,says Bernstein
Bernstein analyst A.M. (Toni) Sacconaghi, Jr believes that the activist investors in HP Enterprise are most likely to push for cost optimization, increased return of capital to shareholders, and value-enhancing portfolio moves i.e. the separation of its financial unit and/or its remaining stake in H3C. He views the portfolio moves as possible but not likely. The analyst says that the stock's risk/reward ratio is positive and keeps an Outperform rating.

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