Hewlett-Packard Company (HPQ)

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#11
An example of big failure in corporate M&A activities. Bought US$1.2 billion, not sure the selling price? Maybe a good news to HP to offload it.

Palm was one of my favorite PAD then. Ease-of-use, plenty of apps, long battery life etc. etc.

HP sells webOS operating system to LG

SAN FRANCISCO - Hewlett-Packard said yesterday it will sell the webOS operating system to South Korea’s LG Electronics Inc, unloading the smartphone software it acquired through a US$1.2 billion acquisition of Palm in 2010.

LG will use the operating software, used in now-defunct Palm smartphones years ago, for its “smart” or Internet-connected TVs. The Asian electronics company had worked with HP on WebOS before offering to buy it outright.

http://www.todayonline.com/tech/hp-sells...-system-lg
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#11
An example of big failure in corporate M&A activities. Bought US$1.2 billion, not sure the selling price? Maybe a good news to HP to offload it.

Palm was one of my favorite PAD then. Ease-of-use, plenty of apps, long battery life etc. etc.

HP sells webOS operating system to LG

SAN FRANCISCO - Hewlett-Packard said yesterday it will sell the webOS operating system to South Korea’s LG Electronics Inc, unloading the smartphone software it acquired through a US$1.2 billion acquisition of Palm in 2010.

LG will use the operating software, used in now-defunct Palm smartphones years ago, for its “smart” or Internet-connected TVs. The Asian electronics company had worked with HP on WebOS before offering to buy it outright.

http://www.todayonline.com/tech/hp-sells...-system-lg
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#12
One of the "new CEO" symptom is a bad year after took the helm. It sets a lower KPI for future performance ... Tongue

Profits down 32%, but HP are feeling optimistic

SAN FRANCISCO — Hewlett-Packard raised its 2013 earnings outlook after beating low expectations, as Chief Executive Meg Whitman’s turnaround plan helped to shore up profits and offset shrinking personal computer sales with enterprise computing services.

While fiscal second-quarter profit plummeted 32 per cent, Wall Street had braced for worse. HP shares gained 14 per cent after the company projected full-year earnings per share of US$3.50 to US$3.60, raising the lower end by 10 US cents.

http://www.todayonline.com/business/prof...optimistic
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#12
One of the "new CEO" symptom is a bad year after took the helm. It sets a lower KPI for future performance ... Tongue

Profits down 32%, but HP are feeling optimistic

SAN FRANCISCO — Hewlett-Packard raised its 2013 earnings outlook after beating low expectations, as Chief Executive Meg Whitman’s turnaround plan helped to shore up profits and offset shrinking personal computer sales with enterprise computing services.

While fiscal second-quarter profit plummeted 32 per cent, Wall Street had braced for worse. HP shares gained 14 per cent after the company projected full-year earnings per share of US$3.50 to US$3.60, raising the lower end by 10 US cents.

http://www.todayonline.com/business/prof...optimistic
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#13
Time is running out for the new CEO's turnaround plan..., and also the Board's patience... IMO

HP shakes up management amid 8% revenue slide

SAN FRANCISCO — Hewlett-Packard yesterday replaced Mr Dave Donatelli with Mr Bill Veghte at the helm of its second-largest business division as it reported a larger-than-expected 8 per cent slide in third-quarter revenue.

The world’s largest PC-maker recorded revenue of US$27.2 billion (S$35 billion) in the fiscal third quarter, down from US$29.7 billion a year earlier, as PC sales continued to slide amid a shift towards mobile computing and with HP’s enterprise business grappling with tepid worldwide information technology spending. It missed the US$27.3 billion in sales that Wall Street had expected on average.

http://www.todayonline.com/business/hp-s...enue-slide
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#13
Time is running out for the new CEO's turnaround plan..., and also the Board's patience... IMO

HP shakes up management amid 8% revenue slide

SAN FRANCISCO — Hewlett-Packard yesterday replaced Mr Dave Donatelli with Mr Bill Veghte at the helm of its second-largest business division as it reported a larger-than-expected 8 per cent slide in third-quarter revenue.

The world’s largest PC-maker recorded revenue of US$27.2 billion (S$35 billion) in the fiscal third quarter, down from US$29.7 billion a year earlier, as PC sales continued to slide amid a shift towards mobile computing and with HP’s enterprise business grappling with tepid worldwide information technology spending. It missed the US$27.3 billion in sales that Wall Street had expected on average.

http://www.todayonline.com/business/hp-s...enue-slide
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#14
HP is also on the M&A bandwagon...

One upon a time, down-sizing is a corporate buzz word, now probably "up-sizing" is the buzz word... Big Grin

HP on the prowl for acquisitions up to S$1.9b

SAN FRANCISCO — Hewlett-Packard is back in the market for acquisitions of up to US$1.5 billion (S$1.9 billion), Chief Executive Meg Whitman said in a televised interview yesterday, aiming for smaller deals after a flurry of outsized purchases in past years.

Ms Whitman, speaking a day after she switched the chief of the company’s Enterprise group and said HP’s second-largest unit had fallen down on sales and product execution, told business channel CNBC that HP could also do deals in the US$100 million to US$300 million range.

http://www.todayonline.com/tech/hp-prowl...tions-s19b
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#14
HP is also on the M&A bandwagon...

One upon a time, down-sizing is a corporate buzz word, now probably "up-sizing" is the buzz word... Big Grin

HP on the prowl for acquisitions up to S$1.9b

SAN FRANCISCO — Hewlett-Packard is back in the market for acquisitions of up to US$1.5 billion (S$1.9 billion), Chief Executive Meg Whitman said in a televised interview yesterday, aiming for smaller deals after a flurry of outsized purchases in past years.

Ms Whitman, speaking a day after she switched the chief of the company’s Enterprise group and said HP’s second-largest unit had fallen down on sales and product execution, told business channel CNBC that HP could also do deals in the US$100 million to US$300 million range.

http://www.todayonline.com/tech/hp-prowl...tions-s19b
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#15
The credit goes to the new CEO...? Big Grin

US stocks climb after HP advances on earnings

NEW YORK — Technology companies lifted the stock market yesterday (Nov 27), keeping major indexes at record levels.

Hewlett-Packard surged, leading the gains for tech companies, after it posted a US$1.4 billion (S$1.76 billion) profit for its latest quarter. The world’s second-largest maker of PCs also issued a strong profit forecast for its current quarter.
...
http://www.todayonline.com/business/us-s...s-earnings
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#15
The credit goes to the new CEO...? Big Grin

US stocks climb after HP advances on earnings

NEW YORK — Technology companies lifted the stock market yesterday (Nov 27), keeping major indexes at record levels.

Hewlett-Packard surged, leading the gains for tech companies, after it posted a US$1.4 billion (S$1.76 billion) profit for its latest quarter. The world’s second-largest maker of PCs also issued a strong profit forecast for its current quarter.
...
http://www.todayonline.com/business/us-s...s-earnings
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#16
(28-11-2013, 10:22 AM)CityFarmer Wrote: The credit goes to the new CEO...? Big Grin

US stocks climb after HP advances on earnings

NEW YORK — Technology companies lifted the stock market yesterday (Nov 27), keeping major indexes at record levels.

Hewlett-Packard surged, leading the gains for tech companies, after it posted a US$1.4 billion (S$1.76 billion) profit for its latest quarter. The world’s second-largest maker of PCs also issued a strong profit forecast for its current quarter.
...
http://www.todayonline.com/business/us-s...s-earnings

The answer seems yes...

HP CEO gets massive pay raise

SAN FRANCISCO — Hewlett-Packard CEO Meg Whitman is getting a huge raise as she enters the third year of her attempt to turn around the slumping personal computer and printer maker.

Ms Whitman’s annual salary is soaring to US$1.5 million (S$1.89 million) from the US$1 that she settled for during her first two years on the job, according a regulatory documents filed yesterday (Dec 17). The raise approved last week is retroactive to Nov 1, the beginning of Hewlett-Packard’s fiscal year.
...
http://www.todayonline.com/business/hp-c...-pay-raise
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#16
(28-11-2013, 10:22 AM)CityFarmer Wrote: The credit goes to the new CEO...? Big Grin

US stocks climb after HP advances on earnings

NEW YORK — Technology companies lifted the stock market yesterday (Nov 27), keeping major indexes at record levels.

Hewlett-Packard surged, leading the gains for tech companies, after it posted a US$1.4 billion (S$1.76 billion) profit for its latest quarter. The world’s second-largest maker of PCs also issued a strong profit forecast for its current quarter.
...
http://www.todayonline.com/business/us-s...s-earnings

The answer seems yes...

HP CEO gets massive pay raise

SAN FRANCISCO — Hewlett-Packard CEO Meg Whitman is getting a huge raise as she enters the third year of her attempt to turn around the slumping personal computer and printer maker.

Ms Whitman’s annual salary is soaring to US$1.5 million (S$1.89 million) from the US$1 that she settled for during her first two years on the job, according a regulatory documents filed yesterday (Dec 17). The raise approved last week is retroactive to Nov 1, the beginning of Hewlett-Packard’s fiscal year.
...
http://www.todayonline.com/business/hp-c...-pay-raise
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#17
I see it differently though. If you are looking to buy outside, it means that you are empty inside.
HP got HP labs which has tons of research and I am surprise that they need to look outside to buy things after repeated failures buying businesses.
Results can be easily achieved in such a big company.
During my time there, there were numerous hiring freeze, job cuts, from Carly's years to Mark Hurd's years.
No replacement even when a person leave a job.
If manager do not agree, you go.
Benefits was cut etc...
Hurts morale if you ask me.

Way too different from how the company was ran.
People leave and bring their knowledge with them.
Started their own company and in turn HP buys them later at a high price.
Turns out that HP had those initially... what irony.
But never learn, unfortunately.

I don't think anyone would buy HP, or that the board will sell in the first place.
Only time would tell if Meg Whitman can turn things around.
Seen too many of these short term measures used to whip up interest in Wall Street......
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#17
I see it differently though. If you are looking to buy outside, it means that you are empty inside.
HP got HP labs which has tons of research and I am surprise that they need to look outside to buy things after repeated failures buying businesses.
Results can be easily achieved in such a big company.
During my time there, there were numerous hiring freeze, job cuts, from Carly's years to Mark Hurd's years.
No replacement even when a person leave a job.
If manager do not agree, you go.
Benefits was cut etc...
Hurts morale if you ask me.

Way too different from how the company was ran.
People leave and bring their knowledge with them.
Started their own company and in turn HP buys them later at a high price.
Turns out that HP had those initially... what irony.
But never learn, unfortunately.

I don't think anyone would buy HP, or that the board will sell in the first place.
Only time would tell if Meg Whitman can turn things around.
Seen too many of these short term measures used to whip up interest in Wall Street......
Reply
#18
Ok see, firstly she's already a billionaire, she already made her mark and her pile when she was at ebay and maybe before that disney, p&g etc ... so if you look at the motivation this is not about money at all. $1.5 mil is consider peanuts the raise is more for the significance.

secondly when the share price reached US$12 two years back it was already gone case everybody predicted it will go under. For any ceo want to come in to takeover all the Sh** and have their reputation tainted for it not many will dare to do it and do it for no money in the first 2 years. So I see the HP board picked the right person for the job. Share price today just under $30
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#18
Ok see, firstly she's already a billionaire, she already made her mark and her pile when she was at ebay and maybe before that disney, p&g etc ... so if you look at the motivation this is not about money at all. $1.5 mil is consider peanuts the raise is more for the significance.

secondly when the share price reached US$12 two years back it was already gone case everybody predicted it will go under. For any ceo want to come in to takeover all the Sh** and have their reputation tainted for it not many will dare to do it and do it for no money in the first 2 years. So I see the HP board picked the right person for the job. Share price today just under $30
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#19
More job cut, even the company business is improving...

Hewlett-Packard to cut 5,000 more jobs

REUTERS — Hewlett-Packard said it would cut 5,000 more jobs, bringing the total number of layoffs to 34,000, or 11 per cent of its workforce.

The company said in a regulatory filing on Monday that it would record a charge of US$4.1 billion (S$5.2 billion) in 2014, up from its prior estimate of US$3.6 billion.

HP is striving to get back to growth through job cuts and focusing on businesses with longer-term potential such as enterprise services.

HP had estimated that it would cut about 29,000 jobs through fiscal year 2014.

The company had about 317,500 employees as of Oct 31.

Shares of the company were little changed at US$27.92 on the New York Stock Exchange yesterday. The stock has gained 96 per cent so far this year. REUTERS
http://www.todayonline.com/business/hewl...-more-jobs
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#19
More job cut, even the company business is improving...

Hewlett-Packard to cut 5,000 more jobs

REUTERS — Hewlett-Packard said it would cut 5,000 more jobs, bringing the total number of layoffs to 34,000, or 11 per cent of its workforce.

The company said in a regulatory filing on Monday that it would record a charge of US$4.1 billion (S$5.2 billion) in 2014, up from its prior estimate of US$3.6 billion.

HP is striving to get back to growth through job cuts and focusing on businesses with longer-term potential such as enterprise services.

HP had estimated that it would cut about 29,000 jobs through fiscal year 2014.

The company had about 317,500 employees as of Oct 31.

Shares of the company were little changed at US$27.92 on the New York Stock Exchange yesterday. The stock has gained 96 per cent so far this year. REUTERS
http://www.todayonline.com/business/hewl...-more-jobs
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#20
HP sale continue declining. Singapore operation should be affected...

HP may cut up to 16,000 more jobs as results disappoint

SAN FRANCISCO - Hewlett-Packard Co plans to cut as many as 16,000 more jobs in a major ramp-up of CEO Meg Whitman's years-long effort to turn around the personal computer maker and relieve pressure on its profit margins.

Whitman said the turnaround remained on track and her raised target reflected how HP continued to find areas to streamline across its broad portfolio, which encompasses computing, networking, storage and software. But some analysts wondered whether it signaled a worsening outlook for the coming year, or if more jobs may be cut.

"The rationale makes sense," said RBC analyst Amit Daryanani. But "you do worry if there's a finality to this process, or if it's an ongoing thing that may affect morale at the end of the day. So far the trend has been worrisome."

HP, whose sprawling global operations employ more than 250,000, estimated about three years ago when it first hatched its sweeping overhaul that it would need to shed 27,000 jobs. That number rose to 34,000 last year.

On Thursday, it estimated another 11,000 to 16,000 more jobs needed to go, scattered across different countries and business areas. That took the grand total under Whitman's restructuring to 50,000.

The Silicon Valley company is trying to reduce its reliance on PCs and move toward computing equipment and networking gear for enterprises, part of Whitman's effort to curtail revenue declines and return the world's No. 1 PC maker to growth.

But that goal remains elusive. The company posted a disappointing 1 percent drop in quarterly revenue, as it struggled to maintain its grip on the shrinking personal computer market and weak corporate tech spending.

That marked its 11th consecutive quarterly sales decline.
...
http://www.todayonline.com/business/hps-...-estimates
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#20
HP sale continue declining. Singapore operation should be affected...

HP may cut up to 16,000 more jobs as results disappoint

SAN FRANCISCO - Hewlett-Packard Co plans to cut as many as 16,000 more jobs in a major ramp-up of CEO Meg Whitman's years-long effort to turn around the personal computer maker and relieve pressure on its profit margins.

Whitman said the turnaround remained on track and her raised target reflected how HP continued to find areas to streamline across its broad portfolio, which encompasses computing, networking, storage and software. But some analysts wondered whether it signaled a worsening outlook for the coming year, or if more jobs may be cut.

"The rationale makes sense," said RBC analyst Amit Daryanani. But "you do worry if there's a finality to this process, or if it's an ongoing thing that may affect morale at the end of the day. So far the trend has been worrisome."

HP, whose sprawling global operations employ more than 250,000, estimated about three years ago when it first hatched its sweeping overhaul that it would need to shed 27,000 jobs. That number rose to 34,000 last year.

On Thursday, it estimated another 11,000 to 16,000 more jobs needed to go, scattered across different countries and business areas. That took the grand total under Whitman's restructuring to 50,000.

The Silicon Valley company is trying to reduce its reliance on PCs and move toward computing equipment and networking gear for enterprises, part of Whitman's effort to curtail revenue declines and return the world's No. 1 PC maker to growth.

But that goal remains elusive. The company posted a disappointing 1 percent drop in quarterly revenue, as it struggled to maintain its grip on the shrinking personal computer market and weak corporate tech spending.

That marked its 11th consecutive quarterly sales decline.
...
http://www.todayonline.com/business/hps-...-estimates
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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