Hp Inc Stock Price, News & Analysis

HP Inc. (NYSE: HPQ) announced an extension of its private exchange offer for outstanding Poly Notes from Plantronics, Inc. The offer allows eligible holders to exchange up to $500 million in notes for new HP notes and cash. The new deadlines extend the Early Participation Date and Consent Revocation Deadline to July 18, 2022, and the Expiration Date to August 1, 2022. HP anticipates strong participation from Poly Notes holders. Detailed terms are available in the Offering Memorandum and Consent Solicitation Statement. This press release does not constitute an offer to sell or purchase any security.

HP Inc. (NYSE: HPQ) has amended and extended its private exchange offer for outstanding notes from Plantronics, Inc. (NYSE: POLY) valued at up to $500 million. Key dates include the extension of the Early Participation Date and Consent Revocation Deadline to July 14, 2022, and the Expiration Date to July 28, 2022. HP has increased the consent payment to $8 million, potentially benefiting holders of Poly Notes with a payment ranging from $16 to $32 per $1,000 depending on participation. This offer is contingent on HP's acquisition of Poly, expected by end of 2022, subject to customary conditions.

HP Inc. (NYSE: HPQ) has initiated a private exchange offer for up to $500 million in outstanding notes issued by Plantronics, Inc. (NYSE: POLY), as part of its acquisition strategy. This follows a March 2022 agreement to acquire Poly for $3.3 billion. The exchange offer includes a consent solicitation to amend the existing indenture for Poly Notes, which would eliminate certain covenants and obligations. The exchange offer will expire on July 25, 2022, unless extended. This move reflects HP's intent to streamline its debt and facilitate the successful completion of the acquisition.

HP Inc. has declared a cash dividend of $0.25 per share on its common stock, marking the fourth dividend of fiscal year 2022. This dividend is payable on October 5, 2022, to stockholders who are on record as of the close of business on September 14, 2022. With approximately 1.0 billion shares of common stock outstanding, this distribution reflects HP's commitment to returning value to its shareholders while supporting its technology portfolio.

HP Inc. (NYSE: HPQ) has announced a public offering of $2.0 billion in senior unsecured notes. This includes $900 million in 4.750% notes maturing in 2028 and $1.1 billion in 5.500% notes maturing in 2033. The proceeds will be used to finance the upcoming acquisition of Plantronics, Inc. (Poly), repay Poly's existing term loan, and cover related fees. If the acquisition is not completed by June 26, 2023, the notes will be mandatorily redeemed. The offering is expected to close on June 21, 2022, pending customary conditions.

HP reported fiscal 2022 second quarter earnings with a GAAP diluted EPS of $0.94, slightly below the forecast of $0.95-$1.01, and a non-GAAP diluted EPS of $1.08, at the high end of expectations. Net revenue reached $16.5 billion, up 3.9% year-over-year. However, GAAP net earnings fell by 19% to $1.0 billion. The company returned $1.3 billion to shareholders through buybacks and dividends. For Q3, HP anticipates GAAP diluted EPS of $0.91-$0.96 and raises its full-year non-GAAP outlook to $4.24-$4.38.

HP Inc. has appointed Ernest Nicolas as the new Chief Supply Chain Officer, effective June 13. Nicolas, who previously held the same position at Rockwell Automation, will oversee HP's worldwide supply chain, delivering over 100 million products annually. He takes over from Antoine Simonnet, who is retiring after a distinguished 40-year career. HP CEO Enrique Lores praised Nicolas’s extensive experience in supply chain management and operational efficiency, highlighting his potential to drive long-term sustainable growth for the company.

HP Inc. has declared a cash dividend of $0.25 per share on its common stock, marking the third dividend in fiscal year 2022. The dividend will be payable on July 6, 2022, to stockholders of record as of the close of business on June 8, 2022. With approximately 1.0 billion shares outstanding, this announcement reflects HP's ongoing commitment to returning value to its shareholders.

HP Inc. has launched its latest HP Spectre and Envy laptops, designed for the hybrid work environment, featuring superior video/audio capabilities and high performance to meet the needs of today's creators.

Key features include a 5 MP camera, HP Auto Frame, backlight adjustment, and AI-enhanced features for improved collaboration. The new lineup supports up to 4K OLED displays and Intel® Evo™ platforms, offering various configurations to enhance productivity. Pricing for devices starts from $849.99, with availability on May 19, 2022.