ADVFN - Advanced Financial Network.
HOME» NASDAQ » N » NTAP Stock Price » NTAP Stock News

Netapp Share News

 Netapp (mm) Stock Price
NTAP Stock Price
 Netapp (mm) Stock Chart
NTAP Stock Chart
 Netapp (mm) Stock News
NTAP Stock News
 Netapp (mm) Company Information
NTAP Company Information
 Netapp (mm) Stock Trades
NTAP Stock Trades

Hewlett-Packard Shares Rise As Some Worries Lift, But Not All

By Joan E. Solsman Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Hewlett-Packard Co.'s (HPQ) shares rose as much as 7.5% Thursday as quarterly results eased concerns about the company's slumping businesses and investors supported H-P's restructuring plan, which includes the elimination of 27,000 jobs. Despite the encouraging signs, obstacles still remain, something the company even acknowledged. "There's still an awful lot of work to be done, and we're looking at every option to accelerate the pace," Chief Executive Meg Whitman said during a conference call. Specific concerns among investors include soft consumer demand for personal computers, cautious tech spending and the ongoing economic uncertainty. H-P shares recently rose 4.1%, at $21.95, after hitting a higher earlier of $22.66. The stock, though, is still down 15% in 2012 and 42% from its year high in July. While H-P reported a 31% drop in profits and a 3% decline in revenue for the second quarter ended April 30, both figures were actually better than the company's projections. In addition, there were signs of stabilization. For the first time in more than a year, its personal-systems group--which includes PCs--held off a decline in revenue and margins improved in its services and printing businesses. Along with the results, H-P said it would reduce its work force by 8% over the next two years to eventually garner $3 billion to $3.5 billion in yearly savings. Analysts said the plan was a good step but no silver bullet. Needham & Co. analyst Richard Kugele called the restructuring more of a reallocation of resources that will take time to have its desired effect. J.P. Morgan analyst Mark Moskowitz said the planned reinvestments don't assure a transformation from distressed assets into a solutions leader. Moskowitz also noted that the climb in H-P shares likely reflected short-covering, saying investors had been pressing the stock down before the results. H-P's short interest--or those transactions that profit when the stock price falls--had more than doubled since the end of February, according to the Nasdaq. H-P's trading Thursday contrasts with that of rival Dell Inc. (DELL), which reported results that fell short of expectations. In addition, H-P's outlook for earnings in the current quarter compared favorably with the weaker guidance from Dell and NetApp Inc. (NTAP), the data-storage company that also suffered a stock slump Thursday because of its lackluster view. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; [email protected]

Stock News for Netapp (NTAP)
01/18/201706:00:00NetApp Delivers Innovation for the Hybrid Cloud Era with New...
01/09/201716:01:00NetApp to Participate in the Needham Growth Conference
01/04/201716:27:15Statement of Changes in Beneficial Ownership (4)
01/04/201716:27:15Statement of Changes in Beneficial Ownership (4)
12/15/201616:20:46Statement of Changes in Beneficial Ownership (4)
12/15/201616:20:46Statement of Changes in Beneficial Ownership (4)
12/12/201609:25:52Current Report Filing (8-k)
12/06/201608:00:00NetApp SolidFire SF-Series 19210 and NetApp E2800 Named 2016...
12/05/201608:00:00NetApp Expands All-Flash Portfolio, Showcases Data Fabric at...
12/02/201617:22:23Statement of Changes in Beneficial Ownership (4)
12/02/201616:15:42Securities Registration: Employee Benefit Plan (s-8)
12/02/201616:09:34Quarterly Report (10-q)
12/01/201622:30:00Theranos Investor Riley Bechtel Steps Down From Board
12/01/201621:58:00Theranos Investor Riley Bechtel Steps Down From Board -- Update
12/01/201621:25:00Theranos Investor Riley Bechtel Steps Down From Board
11/29/201608:00:00CBC Upgrades TV Production and Delivery Services with NetApp
11/22/201616:18:58Statement of Changes in Beneficial Ownership (4)
11/22/201616:01:00NetApp to Participate in the Upcoming Credit Suisse and Barclays...
11/21/201616:07:43Current Report Filing (8-k)
11/17/201616:12:08Statement of Changes in Beneficial Ownership (4)

Netapp and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations