Welcome to our dedicated page for HP news (Ticker: HPQ), a resource for investors and traders seeking the latest updates and insights on HP stock.
HP Inc. (NYSE: HPQ) is a global leader in technology innovation, creating products and solutions designed to improve life for everyone, everywhere. Founded in 1939 and known initially as Hewlett-Packard, HP is a dominant force in the PC and printing markets. Since its split from Hewlett Packard Enterprise in 2015, HP has focused on providing advanced computing and printing products, particularly for commercial markets, while also offering consumer devices and printers.
HP's extensive product portfolio includes personal computers, printers, and 3D printing solutions, catering to a diverse and global customer base. The company operates in more than 170 countries, with only one-third of its sales coming from the US. HP's operations are heavily reliant on channel partners for sales and marketing, and its manufacturing processes are entirely outsourced.
HP is committed to sustainability and innovation, continuously reinventing its product offerings to meet the evolving needs of customers. The company's latest achievements include the introduction of the industry's first role-based AI partner training and certification program through the Amplify Partner Program. This initiative aims to equip channel partners with the knowledge and tools needed to leverage HP's broad portfolio of over 100 AI-enabled solutions.
HP's financial performance remains robust, with a strong focus on profitability and growth. In its fiscal 2024 second quarter, the company reported net revenue of $12.8 billion. HP continues to invest in AI and hybrid work solutions, unveiling the industry's largest portfolio of AI PCs and launching innovative products such as the HP OmniBook X AI PC and HP EliteBook Ultra AI PC, designed to enhance productivity and creativity in hybrid work environments.
HP's strategic partnerships and collaborations, such as the recent establishment of the HKPC-HP 3D Printing Technology Centre in Hong Kong, highlight its commitment to driving technological advancement and fostering sustainable development. This initiative is expected to accelerate the adoption of 3D printing technologies, benefiting various industries and supporting Hong Kong's industrial transformation.
Moreover, HP's dedication to security is evident in its HP Wolf Pro Security suite, which was recently recognized as a top product for corporate endpoint protection by AV-TEST. This suite offers advanced threat protection capabilities, making it an efficient and cost-effective option for small and mid-sized businesses.
HP's focus on innovation, sustainability, and partner growth positions it as a leader in the technology industry, continuously pushing the boundaries to create technology that makes life better for people all around the world.
The Board of Directors of HP Inc. (NYSE: HPQ) has approved the acceleration of the expiration date for its shareholder rights plan, terminating it as of June 25, 2020. This plan was initially set to expire on February 20, 2021. Chair Chip Bergh stated that the termination aligns with HP's current corporate governance practices, noting that there is no longer a threat of a hostile tender offer against the company. The board concluded that maintaining the plan was no longer appropriate.
The HP Inc. board has declared a cash dividend of $0.1762 per share on its common stock. This marks the fourth dividend for fiscal year 2020. The payment will be made on October 7, 2020, to shareholders on record as of September 9, 2020. HP has around 1.4 billion shares of common stock outstanding, reflecting ongoing shareholder returns and financial stability.
HP Inc. reported significant progress in its sustainability initiatives, driving over $1.6 billion in new sales in FY19, a 69% increase from the previous year. The company advanced its diversity agenda with 63% of U.S. hires from underrepresented groups and a commitment to double the number of Black executives by 2025. $698 million was generated through its Supplier Diversity Program. Additionally, HP pledged to eliminate 75% of plastic packaging by 2025 and expanded its Sustainable Forests Collaborative, reflecting a strong commitment to environmental justice and corporate responsibility.
HP Inc. (NYSE: HPQ) announced the redemption of all remaining Global Notes, totaling approximately $867.5 million, on July 22, 2020. This includes $472.3 million of 3.750% Notes due December 1, 2020, and $395.2 million of 4.300% Notes due June 1, 2021. Notices will be sent by The Bank of New York Mellon Trust Company. This move is part of HP's strategy to strengthen its balance sheet, which includes a recent $3 billion public offering of senior unsecured notes and the establishment of a new $1 billion revolving credit facility. The actions aim to enhance financial flexibility and support future investments.
HPQ announced the expiration and results of its cash offers to purchase specific Notes, with the Offers concluding on June 16, 2020. HP accepted all validly tendered Notes, totaling approximately $682.5 million. The Offers required a successful $3.0 billion New Offering, completed on June 9, 2020, to fund the Total Consideration and accrued payments. Acceptance of tendered Notes is also subject to delivery by June 18, 2020. J.P. Morgan, Morgan Stanley, and Wells Fargo acted as Lead Dealer Managers, with D.F. King serving as Information and Tender Agent.
HP Inc. launched the innovative HP ENVY 6000 printer series, designed for busy families balancing work and education at home. This series features a smart user interface, self-healing dual-band Wi-Fi, and integration with the HP Smart app for effortless setup and printing. The printers are also environmentally friendly, made from over 20% recycled plastic. Additionally, HP introduced over 50 hours of free educational printables to assist families in STEM learning. The Instant Ink service ensures users never run out of ink, with savings of up to 50% on replacement cartridges.
HP Inc. (HPQ) announced a public offering of $3 billion in senior unsecured notes, including various maturities and interest rates. The offering consists of $1.15 billion of 2.200% notes due 2025, $1 billion of 3.000% notes due 2027, and $850 million of 3.400% notes due 2030. Proceeds will be used to fund tender offers for existing notes and for general corporate purposes, including debt refinancing and share repurchases. The issuance is set to close on June 17, 2020, pending customary conditions.
HPQ has amended the financing condition for its cash offers to purchase specific series of notes totaling over $2 billion. With the new requirement set at a minimum of $3 billion in new offerings, HPQ aims to ensure sufficient funding for the total considerations applicable to the tendered notes. The expiration date for these offers remains on June 16, 2020. Additionally, HPQ has priced $1.15 billion in 2.200% notes due in 2025, $1 billion in 3.000% notes due in 2027, and $850 million in 3.400% notes due in 2030.
HPQ announced cash offers to purchase all outstanding Notes, totaling $3.5 billion, as part of its strategy to retire debt. The Notes include four series with varying maturities, offering total considerations per $1,000 principal ranging from $1,015 to $1,056.75. The Offers commence on June 9, 2020, and expire on June 16, 2020. The completion of the Offers is contingent upon successfully raising at least $2.5 billion through new note offerings. Notably, HP retains the right to amend or terminate the Offers.
HP and OECHSLER have formed a strategic alliance aimed at accelerating the mass production of 3D printed parts. This partnership will leverage HP's Jet Fusion 5200 3D printers to produce high-quality components for the automotive, home appliance, and medical industries. The collaboration includes the joint development of new applications using advanced materials, including BASF's polypropylene. This initiative is expected to transform the product lifecycle, offering customers enhanced quality, speed, and cost savings in digital manufacturing.
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