Today Hewlett-Packard Company (NYSE:HPQ) increased its earnings outlook to $1.00 per share, from its previous range of $0.94 to $0.97 per share, while its expected GAAP EPS was also raised from $4.31 to $4.49 for the third quarter of 2012.
The company also adjusted its pre-tax charges for impairment of goodwill for its Services business segment, to $8 billion next quarter. The adjustment was on the recent trading value of HP shares, business trends within its Services segment, & market conditions.
ValueWalk's Raul Panganiban interviews JP Lee, Product Managers at VanEck, and discusses the video gaming industry. Q4 2020 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors. Interview With VanEck's JP Lee ValueWalk's ValueTalks ·
In addition, Hewlett-Packard Company (NYSE:HPQ) raised its pre-tax charge, related to its restructuring program, for the third quarter of the fiscal year to $1.5 billion to $1.7 billion, from its previous $1 billion estimate. According to the company, the change was due to a higher than expected acceptance rate in early retirement program, and faster than anticipated implementation of its workforce reduction program.
Furthermore, Hewlett-Packard Company (NYSE:HPQ) implemented changes in its organizational structure. The company appointed Mike Nefkens to head the HP Enterprise Segment (ES) temporarily, in addition to his current position as senior vice president and general manager of HP ES-EMEA. He was tasked to drive growth and innovation for HP’s applications, business processing, and outsourcing services. He will report directly Meg Whitman, president & CEO of the company.
Jean –Jacques Charhon, senior vice president and chief financial officer of HP ES, was appointed chief operating officer of HP ES. His primary responsibility is to help boost HP’s profitability, by increasing customer satisfaction, and improving service delivery efficiency.
Last week, HP also appointed Ramón F. Baez as senior vice president and global chief information officer. He will be in-charge of the company’s global information technology strategy and all internal IT assets, including architecture, applications, data management, technology, telecommunication networks, support, and operations of HP.
Meanwhile, Dell Inc. (NASDAQ:DELL) was included in the leaders quadrant of Gartner’s 2012 Magic Quadrant Reports: “Magic Quadrant for Help Desk Outsourcing, North Americai”and “Magic Quadrant for Desktop Outsourcing Services, North America” for its help desk and desk top outsourcing services.
In a statement, Kevin Jones, vice president of Dell Services said, “We consider our positioning in the Gartner Leaders quadrants as further confirmation of our continued transformation to an end-to-end services provider, and testament of Dell’s leadership and commitment to excellent customer service.”
Dell’s help desk and desktop cloud-based services provide customers with flexible access to critical systems in cost-effective and easy to use manner.
On Wednesday, HP’s stock is trading at $19.40 per share, while Dell stock is trading at $12.21 per share. Both companies are trading upward.