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HPE

HP Enterprise

$14.70

0.09 (0.62%)

19:11
10/18/17
10/18
19:11
10/18/17
19:11

HPE to simplify organizational structure, to drive cost savings of $1.5B

HPE President Antonio Neri gave additional detail on an initiative called HPE Next. Through HPE Next, the company will simplify the organizational structure, redesign business processes and prioritize investments in growth areas. The company will also right-size its end-to-end cost structure. "The goal of HPE Next is to simplify our operations, strengthen our execution and shift our investments in innovation towards high growth and higher margin solutions and services," said Antonio Neri, President of HPE. "Ultimately, HPE Next will create a fit-for-purpose company and deliver the next wave of shareholder value." The HPE Next program will drive significant net savings with an attractive return on investment. Over the next three years, the program will drive gross cost savings of $1.5 billion. HPE will reinvest about $700 million of that back into the company in the form of go-to-market, operational and R&D investments in key growth areas. Net cost savings will be approximately $800 million on a run rate basis exiting fiscal year 2020. In order to achieve this level of cost savings, HPE expects approximately $1.1 billion in cash funding payments over the duration of the program. Approximately two thirds of the funding will be utilized to optimize the workforce. The remainder will be used to upgrade and simplify IT systems, in addition to other non-labor actions. These payments will be partially offset by real estate sales, which should generate approximately $300 million in cash over the next three years.

  • 18

    Oct

  • 11

    Dec

HPE HP Enterprise
$14.70

0.09 (0.62%)

10/17/17
10/17/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Groupon (GRPN) initiated with a Buy at Gabelli. 2. HP Enterprise (HPE) initiated with a Hold at Pivotal Research. 3. Celgene (CELG) initiated with an Outperform at Bernstein. 4. Aerohive (HIVE) initiated with a Buy at Craig-Hallum. 5. Sprouts Farmers Market (SFM) initiated with a Positive at Susquehanna. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/17/17
PIVT
10/17/17
INITIATION
Target $14
PIVT
Hold
HP Enterprise initiated with a Hold at Pivotal Research
Pivotal Research analyst Lou Miscioscia initiated HP Enterprise with a Hold and $14 price target citing concerns regarding core growth.
10/13/17
10/13/17
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. Ford (F) downgraded to Equal Weight from Overweight at Barclays with analyst Brian Johnson saying the company is starting "substantially behind" General Motors (GM) in current North America margins, and behind both GM and Tesla (TSLA) in its positioning for the "megatrends and disruptive mobility." 2. HP Enterprise (HPE) downgraded to Neutral from Buy at Citi with analyst Jim Suva saying fundamentals in the company's core enterprise group remain challenging, and accelerated restructuring payments will pressure core fee cash flow in fiscal year 2018. 3. XL Group (XL) downgraded to Sell from Hold at Deutsche Bank with analyst Joshua Shanker saying the company may be underestimating the impact of third quarter catastrophes, which creates downside risk to consensus estimates. 4. HubSpot (HUBS) downgraded to Sector Weight from Overweight at KeyBanc with analyst Brent Bracelin saying the risk/reward looks balanced with the shares up 82% year-to-date. 5. Hostess Brands (TWNK) downgraded to Sell from Neutral at UBS with analyst Steven Strycula saying slowing category trends, market share loss in its Sweet Baked Goods unit and recent management turnover create an unfavorable setup. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/13/17
SBSH
10/13/17
DOWNGRADE
Target $16
SBSH
Neutral
HP Enterprise downgraded to Neutral from Buy at Citi
Citi analyst Jim Suva downgraded HP Enterprise to Neutral and lowered his price target for the shares to $16 from $17. Fundamentals in the company's core enterprise group remain challenging, and accelerated restructuring payments will pressure core fee cash flow in fiscal year 2018, Suva tells investors in a research note.

TODAY'S FREE FLY STORIES

TSLA

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2.55 (0.82%)

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GT

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HMC

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PG

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BHGE

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$30.91

0.76 (2.52%)

, GE

General Electric

$18.21

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GE

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  • 14

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CSCO

Cisco

$35.90

0.02 (0.06%)

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IBM

IBM

$148.97

-0.15 (-0.10%)

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GE

General Electric

$18.21

-0.04 (-0.22%)

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GE

General Electric

$18.21

-0.04 (-0.22%)

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TWX

Time Warner

$88.72

0.71 (0.81%)

, T

AT&T

$34.51

-0.01 (-0.03%)

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TWX

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T

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NYT

New York Times

$17.65

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TEX

Terex

$44.82

0.8 (1.82%)

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TPIC

TPI Composites

$19.06

-0.97 (-4.84%)

07:25
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  • 05

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SYNA

Synaptics

$38.21

0.57 (1.51%)

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  • 18

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MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

, BRCD

Brocade

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S&P announces changes to S&P MidCap 400, S&P SmallCap 600 indices »

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MKSI

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-0.35 (-0.34%)

BRCD

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IVR

Invesco Mortgage

$17.36

0.07 (0.40%)

AVGO

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-0.25 (-0.09%)

TCMD

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$25.98

-0.23 (-0.88%)

LMOS

Lumos Networks

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WGL

WGL Holdings

$84.32

-0.14 (-0.17%)

18:01
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TCMD

Tactile Systems

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IVR

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$17.36

0.07 (0.40%)

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MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

, BRCD

Brocade

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MKS Instruments to replace Brocade in S&P 400 at open on 11/22 »

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MKSI

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AVGO

Broadcom

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  • 06

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UQM

UQM Technologies

$1.18

0.015 (1.29%)

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GS

Goldman Sachs

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VICL

Vical

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LGND

Ligand

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LGND

Ligand

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LGND

Ligand

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MBI

MBIA

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RBCN

Rubicon

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