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Fly News Breaks for April 3, 2017
Apr 3, 2017 | 07:32 EDT
Bernstein analyst Toni Sacconaghi, Jr. notes that HP Enterprise (HPE) will spin off its Enterprise Services unit and merge with CSC (CSC) into newly created DXC Technology (DXC) after the close today.. For every 1000 shares of HP, shareholders will receive about 85 shares of DXC and 1000 shares of HP Enterprise, the analyst reported. He says that the price of the new HP Enterprise stock will be about $6.05 below Thursday's close. Sacconaghi is cautious on DXC, expressing doubt about whether it can meet its synergy goals, warning that it may not be able to sustain operating margins in the teens and estimating that it will trade at an EV/free cash flow ratio "that is closer to 14 times" its fiscal 2017 earnings than its projected p/fe ratio of 11 times.
News For HPE;CSC;DXC From the Last 2 Days
Jun 24, 2019 | 17:01 EDT
Hewlett Packard Enterprise (HPE) announced that George Kurtz, CEO and co-founder of cloud cybersecurity company CrowdStrike (CRWD), has been appointed as a member of Hewlett Packard Enterprise's Board of Directors, effective immediately.