Key Developments: Hewlett-Packard Co (HPQ.N)
25.02USD
2 Jul 2013
$0.09 (+0.36%)
$24.93
$24.82
$25.21
$24.79
2,518,709
3,769,910
$25.86
$11.35
Latest Key Developments (Source: Significant Developments)
Hewlett-Packard Co Team Wins U.S. Department of Navy's Next Generation Enterprise Network (NGEN) Contract
Hewlett-Packard Co's Enterprise Services and its NGEN Alliance Partners, AT&T Government Solutions, Inc., IBM Global Business Services Federal, Lockheed Martin Services, Inc. and Northrop Grumman Systems Corp., announced they have been awarded the U.S. Department of the Navy's (DON) Next Generation Enterprise Network (NGEN) contract. Valued at approximately $3.45 billion over five years if all options are exercised, the contract covers a broad range of information technology (IT) services and support for more than 800,000 Sailors, Marines and civilians in the continental United States, Hawaii and Japan. According to the Navy, the initial $321,689,010 indefinite-delivery/indefinite-quantity (IDIQ), firm-fixed award fee contract for NGEN will continue through June 2018 if all options are exercised. Full Article
Government Of Catalonia Awards Hewlett-packard Co $67 Million Contract For Transformation To The Cloud
Hewlett-packard Co's HP Enterprise Services Spain announced that Generalitat de Catalunya (CTTI), the Government of Catalonia, has signed a $67 million agreement for HP to transform the government's computing environment to a cloud-based infrastructure so it can operate more efficiently while improving services to its citizens. Under the terms of the 10-year contract, HP will move CTTI's infrastructure from a dedicated client-owned data center to a secure, HP-managed cloud environment. HP will continue managing the organization's computing environment while migrating it to a virtual private cloud located in Barcelona, Spain. Full Article
Tennessee Awards Hewlett-Packard Co $88 Million Medicaid Contract Extension
Hewlett-Packard Co announced that Bureau of TennCare, Tennessee's Medicaid program, has signed an $88 million agreement for HP to continue as the state's facilities manager for another two years, helping enable the state's program transformation while maintaining program stability for members. Under the terms of the new agreement, which includes two one-year options, HP will help the state move its technology infrastructure to a more flexible and sustainable services-oriented architecture that will improve responsiveness to business changes. The agreement also includes a continuation of HP Applications Services to maintain the TennCare Management Information System, which enhances workflow while providing timely access to accurate and meaningful information. Full Article
Customs Tribunal Stays $386 Million Order Against Hewlett-Packard Co's HP India-Business Line
Business Line reported that US-based Hewlett-Packard Co's (HP) India unit has won a stay against Customs Department order asking the computer manufacturer to pay $386 million in alleged duty evasion. The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has stayed the Commissioner of Customs Bangalore’s order against HP India Sales Private Ltd (HPI), HP said. The case relates to an investigation by Directorate of Revenue Intelligence (DRI) in 2008, where the Government agency had alleged that HPI had underpaid customs duties while importing products and spare parts into India. In April last year, the Commissioner of Customs Bangalore had issued an order on the products show cause notice affirming certain duties and penalties against HPI and the named individuals of approximately $386 million. Full Article
Hewlett-Packard Co Raises low End Of Prior FY 2013 EPS Guidance To A Range In Line With Analysts' Estimates-Conference Call
Hewlett-Packard Co announced that it has narrowed its range for the outlook for fiscal 2013 on EPS. The Company was originally at $3.40 to $3.60 and then it narrowed EPS to $3.55 to $3.60. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $3.55 for fiscal 2013. Full Article
Hewlett-Packard Co's HP Enterprise Services Secures Medicaid Contract From Indiana Department of Administration
Hewlett-Packard Co's HP Enterprise Services announced that the Indiana Department of Administration, on behalf of the state's Family and Social Services Administration, has signed a $220 million contract for HP to continue 20-year relationship as the state's Medicaid fiscal agent. The six-and-a-half-year agreement includes construction and implementation of the new Indiana interChange Medicaid Management Information System, also called Core MMIS. It also involves moving users into the new system, as well as four years of service delivery and maintenance. In addition, the agreement contains two one-year options that are not included in the contract value. Full Article
Carlyle Group LP And Others Eyeing Hewlett-Packard Co's Mphasis Ltd Stake-Business Standard
Business Standard reported that Private equity giants Carlyle Group LP and Blackstone Group LP as well as Indian outsourcers L&T Infotech and Tech Mahindra Ltd, are lining up bids for Hewlett-Packard Co’s $1 billion stake in MphasiS Ltd, several sources involved in the process said. Buyout firms Advent International and Bain Capital LLC are also in talks to bid for HP's 60.5% stake in MphasiS, an information technology services exporter, said the sources, who declined to be named as details of a potential deal are not yet public. Tech Mahindra and L&T Infotech might team up with private equity firms to make bids for the MphasiS stake, two of the sources told Reuters. Preliminary bids for the MphasiS stake sale are likely to be invited by the end of June, sources said, and a deal could be finalised during the July or September quarter. Full Article
Hewlett-Packard Co's HP Autonomy Secures Contract
Hewlett-Packard Co's HP Autonomy announced that Bond International Software Group, a global recruitment, HR and payroll specialist, has adopted technology from HP Autonomy to enhance recruitment process system, Bond Adapt. Full Article
Hewlett-Packard Co Declares Dividend
Hewlett-Packard Co announced that Board Of Directors has declared a regular cash dividend of 14.52 cents per share on the Company's common stock, which, as previously announced, reflects a 10% increase in amount compared to the previous quarterly dividend amount. The dividend, the third in HP's fiscal year 2013, is payable on July 3, 2013, to stockholders of record as of the close of business on June 12, 2013. Full Article
Marathon Patent Group Inc's Relay IP Files Patent Infringement Lawsuits Against Hewlett-Packard Co and Others
Marathon Patent Group Inc's Relay IP (Relay) has filed patent infringement lawsuits in the United States District Court for the District of Delaware against Sprint Nextel Corporation, Juniper Networks, Cisco Systems, Bloomberg L.P., Hitachi Cable America, D-Link Corporation, Avaya, Hewlett-Packard Company, Enterasys Networks, Extreme Networks, TIBCO Software, BT Group, SAVVIS Inc., Zhone Technologies, Huawei Technologies, Allied Telesis, and Adtran (the Defendants). Relay is asserting infringement related to U.S. Patent number 5,331 ,637, entitled Multicast Routing Using Core Based Trees. The lawsuit alleges that the Defendants have infringed, and continue to infringe, the claims of the patent in suit by using the accused IP Multicast systems and methods covered by the claims of the Relay patent. Full Article
UPDATE 1-Hewlett-Packard moves printer, PC exec Bradley into new job
June 18 - Hewlett-Packard Co on Tuesday named Todd Bradley, the head of its largest unit, printing and personal computers, to take on the new job of improving the company's China business and extending distribution partner relationships around the world.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
