Hewlett Packard Enterprise wins $5B fraud suit vs UK tycoon
Technology company Hewlett Packard Enterprise won a multibillion-dollar lawsuit Friday against a British businessmen it accused of fraud after purchasing his software business Autonomy a decade ago. The decision by the U.K.'s High Court also removes a hurdle for the potential extradition to the U.S. of Autonomy's founder, British entrepreneur Michael Lynch. Hewlett Packard bought Autonomy in 2011 for $11 billion but was forced to write off most of its value the following year, in a corporate debacle that sparked a boardroom shakeup at the U.S. company.news.yahoo.com
HPE, Microsoft to launch AI capabilities to space station with Spaceborne Computer-2
Hewlett Packard Enterprise and Microsoft are launching cloud computing to the International Space Station Feb. 18, 2021 with the Spaceborne Computer-2. Microsoft will connect its cloud computing Azure Space platform to the Spaceborne Computer-2, a Hewlett-Packard Enterprise product promising to "deliver edge computing and [artificial intelligence] capabilities to the International Space Station (ISS)." Spaceborne Computer-2 will launch to space Feb. 20 aboard a Northrop Grumman Cygnus cargo craft that will also deliver tons of other supplies, experiments and food for the station's Expedition 64 astronauts. Microsoft and Hewlett Packard Enterprise have teamed up to launch Spaceborne Computer-2 to the International Space Station to bring artificial intelligence and machine learning capabilities to orbit. The new project builds on the lessons learned from a predecessor proof-of-concept device, called Spaceborne Computer.space.com
Texas governor says companies moving headquarters to the state has turned into a 'tidal wave'
Hewlett Packard Enterprise also said earlier this month it is moving its headquarters to Houston from San Jose, California. In addition to the pandemic demonstrating the feasibility of more widespread remote work, Abbott said there are other characteristics attracting companies to Texas. "Cost of business means a lot. No income tax means a lot, but also the freedom to operate without the heavy hand of regulation means a lot," he said. "This has turned into an absolute tidal wave," Abbott added, while noting many companies such as Oracle already had a presence in Texas before their official announcements.cnbc.com
Okta embracing remote work due to 'war for talent,' but HQ will stay in California, CEO says
Okta co-founder and CEO Todd McKinnon told CNBC on Thursday the software company is keeping its headquarters in California while also embracing large-scale remote work for employees. For example, when Facebook CEO Mark Zuckerberg unveiled the California-based social media giant's plans to let certain employees work remotely, he indicated compensation would be recalibrated based on where they choose to live. Spurred on by the coronavirus pandemic, other companies are making decisions similar to those of Okta and Facebook and further embracing a work-from-anywhere policy. Jack Dorsey's two companies, Twitter and Square, told employees they can work from home "forever" if they want. Okta, which provides security and identity management software, had 2,248 employees as of Jan. 31, according to its annual report.cnbc.com
Hewlett Packard Enterprise to move headquarters to Texas
SPRING, Texas – Tech giant Hewlett Packard Enterprise said it is moving its global headquarters to the Houston area from California, where the company's roots go back to the founding of Silicon Valley decades ago. Hewlett Packard Enterprise was created in 2015 when the computer hardware pioneer Hewlett-Packard Inc. broke into two parts after years of struggling to keep up with industry trends, such as consumers’ shift away from personal computers. The split left one new company, HPE, concentrated on the business of selling data center hardware and business software, while another new company, HP Inc., kept the legacy PC and printer operations. HP Inc. is still headquartered in Palo Alto, California, and remains the bigger of the two companies in terms of revenue. “We are incredibly committed to Silicon Valley,” he said.
Hewlett Packard Enterprise moving its headquarters from California to Houston area
HOUSTON – Texas Gov. Greg Abbott announced Tuesday that Hewlett Packard Enterprise is moving its headquarters from San Jose, California, to Spring, Texas. “Hewlett Packard Enterprise joins more than 50 Fortune 500 companies headquartered in the Lone Star State, including 22 in the Houston area alone. The city’s efforts to bolster Houston’s position as a leading digital tech hub and global headquarters city are paying off. “Houston has long been a hub for global innovation and offers leading tech companies a deep bench of digital and corporate talent to drive success.
Hewlett Packard Enterprise is the latest tech company to leave Silicon Valley, and is moving to Houston
Hewlett Packard Enterprise is the latest tech company to shift its focus away from Silicon Valley, announcing Tuesday that it will relocate its headquarters from San Jose, California, to Houston, Texas. For its fourth quarter, the company reported:Revenue: $7.21 billion vs $6.88 billion expected, according to a consensus estimate from Refinitiv. $7.21 billion vs $6.88 billion expected, according to a consensus estimate from Refinitiv. The coronavirus pandemic has given a number of tech companies and prominent Silicon Valley figures an excuse to exit California. Twitter and Square are letting employees work from home "forever," while Microsoft said workers will have more flexibility to work from home.cnbc.com
Stocks making the biggest moves premarket: Pfizer, Boeing, Chewy.com, Caterpillar & more
Pfizer shares added 2.9% in premarket trading as of 7:30 a.m. Bank of New York Mellon shares added 1.8% in premarket trading as of 7:30 a.m. Boeing shares rose 3.9% in premarket trading as of 7:30 a.m. Chewy shares rose 4.96% in premarket trading as of 7:30 a.m. Caterpillar added 1.6% in premarket trading as of 7:30 a.m.cnbc.com
Stocks making the biggest moves after hours: HPE, Intuitive Surgical, Marten Transport & more
The company posted an earnings per share of 16 cents in the third quarter, beating analysts' estimate of 10 cents, according to FactSet. Intuitive Surgical — Shares of Intuitive Surgical fell more than 2% despite the robotic surgical manufacturer's better-than-expected results. Marten Transport — Shares of Marten Transport dropped almost 8% after the transportation company posted a revenue miss in the third quarter. Marten Transport's sales came to $216 million, below the Refinitiv estimate of $220.5 million. Its earnings per share came slightly above expectations, however.cnbc.com
HPE's stock falls as revenue comes up short
Hewlett Packard Enterprise shares dropped about 4% in extended trading on Monday after the company reported lower-than-expected fiscal fourth-quarter revenue. Excluding certain items, 49 cents per share, vs. 46 cents per share as expected by analysts, according to Refinitiv. HPE's revenue fell 9% from a year earlier in the quarter, which ended on Oct. 31, according to a statement. Within Hybrid IT, compute revenue, which includes sales of servers and accounted for 45% of HPE's total revenue, fell 13%. In the fiscal first quarter, HPE is projecting 42 cents to 46 cents in earnings per share, excluding certain items.cnbc.com
Confused investors keep buying FORD, thinking it's Ford
That's because Forward Industries, which is worth just $10 million, trades under the ticker symbol "FORD." The iconic Ford Motor has the ticker symbol of "F."This, and other examples of ticker symbol confusion, may cost investors more than $1 million a year in transaction costs, according to two professors who have studied what happens when investors buy the wrong stocks. "That's how long it takes for the stock price to return to normal, probably once investors realize they made a mistake." The 'smart' money often gets confused tooIt's not just small-time mom and pop individual investors who get mixed up. Ticker confusion also can upend sophisticated institutional investors, Nikorov and Balashov found.