Hp Inc Stock Price, News & Analysis

HP Inc. reported significant progress in its sustainability initiatives, driving over $1.6 billion in new sales in FY19, a 69% increase from the previous year. The company advanced its diversity agenda with 63% of U.S. hires from underrepresented groups and a commitment to double the number of Black executives by 2025. $698 million was generated through its Supplier Diversity Program. Additionally, HP pledged to eliminate 75% of plastic packaging by 2025 and expanded its Sustainable Forests Collaborative, reflecting a strong commitment to environmental justice and corporate responsibility.

HP Inc. (NYSE: HPQ) announced the redemption of all remaining Global Notes, totaling approximately $867.5 million, on July 22, 2020. This includes $472.3 million of 3.750% Notes due December 1, 2020, and $395.2 million of 4.300% Notes due June 1, 2021. Notices will be sent by The Bank of New York Mellon Trust Company. This move is part of HP's strategy to strengthen its balance sheet, which includes a recent $3 billion public offering of senior unsecured notes and the establishment of a new $1 billion revolving credit facility. The actions aim to enhance financial flexibility and support future investments.

HPQ announced the expiration and results of its cash offers to purchase specific Notes, with the Offers concluding on June 16, 2020. HP accepted all validly tendered Notes, totaling approximately $682.5 million. The Offers required a successful $3.0 billion New Offering, completed on June 9, 2020, to fund the Total Consideration and accrued payments. Acceptance of tendered Notes is also subject to delivery by June 18, 2020. J.P. Morgan, Morgan Stanley, and Wells Fargo acted as Lead Dealer Managers, with D.F. King serving as Information and Tender Agent.

HP Inc. launched the innovative HP ENVY 6000 printer series, designed for busy families balancing work and education at home. This series features a smart user interface, self-healing dual-band Wi-Fi, and integration with the HP Smart app for effortless setup and printing. The printers are also environmentally friendly, made from over 20% recycled plastic. Additionally, HP introduced over 50 hours of free educational printables to assist families in STEM learning. The Instant Ink service ensures users never run out of ink, with savings of up to 50% on replacement cartridges.

HP Inc. (HPQ) announced a public offering of $3 billion in senior unsecured notes, including various maturities and interest rates. The offering consists of $1.15 billion of 2.200% notes due 2025, $1 billion of 3.000% notes due 2027, and $850 million of 3.400% notes due 2030. Proceeds will be used to fund tender offers for existing notes and for general corporate purposes, including debt refinancing and share repurchases. The issuance is set to close on June 17, 2020, pending customary conditions.

HPQ has amended the financing condition for its cash offers to purchase specific series of notes totaling over $2 billion. With the new requirement set at a minimum of $3 billion in new offerings, HPQ aims to ensure sufficient funding for the total considerations applicable to the tendered notes. The expiration date for these offers remains on June 16, 2020. Additionally, HPQ has priced $1.15 billion in 2.200% notes due in 2025, $1 billion in 3.000% notes due in 2027, and $850 million in 3.400% notes due in 2030.

HPQ announced cash offers to purchase all outstanding Notes, totaling $3.5 billion, as part of its strategy to retire debt. The Notes include four series with varying maturities, offering total considerations per $1,000 principal ranging from $1,015 to $1,056.75. The Offers commence on June 9, 2020, and expire on June 16, 2020. The completion of the Offers is contingent upon successfully raising at least $2.5 billion through new note offerings. Notably, HP retains the right to amend or terminate the Offers.

HP and OECHSLER have formed a strategic alliance aimed at accelerating the mass production of 3D printed parts. This partnership will leverage HP's Jet Fusion 5200 3D printers to produce high-quality components for the automotive, home appliance, and medical industries. The collaboration includes the joint development of new applications using advanced materials, including BASF's polypropylene. This initiative is expected to transform the product lifecycle, offering customers enhanced quality, speed, and cost savings in digital manufacturing.

HP Inc. has launched the HP Reverb G2, a state-of-the-art virtual reality headset developed in collaboration with Valve and Microsoft. This headset boasts the highest resolution among major vendors and includes advanced features like 2K by 2K resolution per eye, spatial audio, and 114-degree field of view for enhanced immersion. Scheduled for availability in Fall 2020 at a price of $599, it aims to serve gamers, creators, and educational sectors. Pre-orders start on May 28, 2020, via HP and select platforms.