HP (HPQ) Stock News, May-Jun 2021

HP Inc. (NYSE: HPQ) has successfully completed its acquisition of HyperX, the gaming division of Kingston Technology, for $425 million. This strategic move aims to enhance HP’s Personal Systems business by tapping into the growing gaming market. HyperX's product lineup includes a range of gaming peripherals such as headsets and keyboards, which are expected to bolster HP’s market presence. The acquisition is projected to be accretive on a non-GAAP basis in the first year post-closing, signaling potential growth for HP.

HP reported a strong second quarter for fiscal 2021, achieving net revenue of $15.9 billion, a 27.3% increase year-over-year. The GAAP diluted EPS reached $0.98, significantly exceeding previous forecasts. Non-GAAP diluted EPS was $0.93, also above outlook projections. The company generated $1.4 billion in operating cash flow and returned 137% of its free cash flow to shareholders, totaling $1.8 billion in buybacks and dividends. Looking ahead, HP estimates a third quarter GAAP diluted EPS range of $0.77 to $0.81 and maintains a positive full-year outlook.

The HP Inc. board has declared a cash dividend of $0.1938 per share on its common stock, marking the third dividend for fiscal year 2021. This dividend is payable on July 7, 2021, to stockholders of record as of June 9, 2021. HP has approximately 1.2 billion outstanding shares, indicating a strong commitment to returning value to shareholders. The company continues to create technology that enhances life globally through its diverse product offerings.

HP Inc. announced the appointment of Kristen Ludgate as Chief People Officer, effective July 12, 2021. Ludgate, previously at 3M as Chief Human Resources Officer, will lead HP's global human resources organization, focusing on employee experience, talent acquisition, and diversity, equity, and inclusion. HP's President, Enrique Lores, praised her innovative leadership and extensive experience, which included transforming organizational culture and overseeing talent initiatives at 3M. Ludgate holds a bachelor's degree from Bowdoin College and a J.D. from the University of Minnesota Law School.

HP introduced its new Victus by HP 16-inch laptop, targeting mainstream gamers and designed with OMEN's DNA. The device features top-tier performance with options for NVIDIA GeForce RTX 3060 graphics and Intel Core i7 processors. The gaming lineup also includes OMEN 16 and OMEN 17 laptops, featuring advanced cooling technology and immersive displays. The OMEN Gaming Hub enhances user experience with new features like OMEN OASIS for gameplay streaming. Pricing for the Victus starts at $799.99, with availability in June 2021. The company emphasizes sustainability in its product design.

HP Inc. has announced its commitment to gender parity in leadership by 2030, becoming the first Fortune 100 tech company to do so. The company aims for 50% gender equality in leadership roles and over 30% technical women by 2030. HP also plans to meet or exceed labor market representation for racial/ethnic minorities in the U.S. and maintain a high internal inclusion index rating. These goals are part of HP's Sustainable Impact strategy, aiming to create a positive impact on society and the environment.

HP Inc. has strengthened its management team with key appointments aimed at enhancing long-term growth. On May 19, 2021, Greg Baxter was named Chief Transformation Officer, focusing on digital capabilities and cost reduction. He succeeds Marie Myers, now the CFO. Didier Deltort was appointed President of Personalization & 3D Printing, directing global business management and innovation in 3D Printing. Both executives bring extensive experience from leading roles in major companies, with an emphasis on driving commercial growth and operational efficiency.

HP Inc. has launched HP Indigo Secure, a suite of innovative security and brand protection solutions, alongside the HP Indigo 6K Secure Press, specifically targeting the security printing market. This press delivers comprehensive security solutions through multi-layered printing in a secure environment. The impact of counterfeiting is projected to cost global businesses $4.2 trillion. HP's new offerings aim to assist governments and brands in combating intellectual property violations and losses.

HP Inc. and CCL Industries announced the installation of CCL's 100th HP Indigo digital press, marking a significant milestone in their partnership. The latest installation is the world's first HP Indigo 35K Digital Press, aimed at expanding into the folding carton market at CCL's Healthcare facility in Montreal. This B2 sheetfed press enhances brand protection with advanced printing technologies. The global self-adhesive labels market is projected to grow significantly, indicating strong market potential for HP and CCL.