Hewlett Packard Enterprise Company | $HPE Stock | Shares Gain Momentum As Earnings Top Expectations

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Hewlett Packard Enterprise Company (NYSE: HPE)

 

 

Hewlett Packard Enterprise Company (HPE), a technology solutions company yesterday reported their second quarter 2016 financial results. Hewlett Packard reported their second quarter earnings to be $0.42 per share which is exactly what analysts were expecting. Hewlett Packard reported their second quarter revenues increased 1.3% year over year to $12.71 billion which beat analyst expectations of $12.34.  

 

Hewlett Packard Enterprise Company CEO’s Comments

“Today’s results represent our best performance since I joined in 2011,” said Meg Whitman, president and chief executive officer, Hewlett Packard Enterprise. “The businesses comprising HPE grew revenue over the prior-year period on an as reported basis for the first time in five years. We also had strong quarterly performance in every one of our business segments and generated more than $500 million in free cash flow.”  Market Wired

 

HPE Technical Analysis

HPE Chart

HPE opened trading yesterday at $16.10 which was up from the previous days trading of $16.07. HPE closed trading yesterday at $16.25 and spiked up after market to $18.00, equivalent to a 11% increase from the closing price. Taking a look at the daily chart we can see the last time HPE traded above this price level was on April 4th  when it traded at $18.04. Taking a closer look at the daily chart we can see that HPE has been on an overall upward trend dating back to January 20th when it traded at $12.06. HPE has a float of 1.72 billion shares and traded 1.3 times the normal daily trading volume on Tuesday. For trading purposes, I would like to see HPE open trading on Friday above $17.50 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.20 from my entry position fearing anything more than that and the stock would start to fill in the gap up.

 

Company Profile

Hewlett Packard Enterprise Company provides technology solutions to business and public sector enterprises. It operates through Enterprise Group, Software, Enterprise Services, and Financial Services segments. The Enterprise Group segment offers industry standard servers and business critical systems to address the array of its customers’ compute needs; storage products, such as 3PAR StoreServ, a storage platform; and networking products comprising switches, routers, points, controllers, wireless local area network, and network management products. This segment also provides software-defined networking and unified communications capabilities; and support and consulting services. The Software segment offers software to capture, store, explore, analyze, protect, and share information and insights within and outside organizations; HP Vertica, an analytics database technology for machine, structured, and semi-structured data; and HP IDOL, an analytics tool for human information, as well as solutions for archiving, data protection, eDiscovery, information governance, and enterprise content management. This segment also provides application delivery management, enterprise security, and IT operations management software products. The Enterprise Services segment offers technology consulting, outsourcing, and support services in infrastructure, applications, and business process domains; and application and business services that help clients to develop, revitalize, and manage their applications and information assets. The Financial Services segment provides leasing, financing, IT consumption and utility programs, and asset management services. The company markets and sells its products through resellers, distribution partners, original equipment manufacturers, independent software vendors, systems integrators, and advisory firms. Hewlett Packard Enterprise Company is headquartered in Palo Alto, California.  Yahoo Finance

 

 

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