Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 29, 2019

Article Excerpt

HP INC., $20.08, New York symbol HPQ, is still a hold. On November 1, 2015, the old Hewlett-Packard Co. split into two firms—HP Inc. and Hewlett-Packard Enterprise (see below). For every share they held in the old HP, investors received one share in each of the new companies. Copy-machine maker Xerox Holdings Corp. (New York symbol XRX) has now offered to acquire HP for $17.00 in cash and 0.137 of a Xerox share. Based on current prices, that offer is worth $22.33 a share, or 11.2% more that the current stock price. HP has rejected the offer as too low. As a result, Xerox plans to take its offer directly to HP shareholders. Meantime, HP’s sales in its fiscal 2019 fourth quarter, ended October 31, 2019, rose 0.3%, to $15.41 billion from $15.37 billion a year earlier. That beat the consensus forecast of $15.29 billion. Personal computer sales (68% of the total) rose 3.6%. That gain was due to higher demand from business customers for…

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