HP’s 3Q Sales Outstrip Our Expectations on Notebook, Desktop Strength; Maintain $19 FVE
HP delivered solid fiscal third-quarter results despite facing headwinds in multiple business segments. Desktops and notebooks led the way, delivering growth above our expectations, and HP’s increasing mix of premium notebooks is helping the firm outperform a weak PC market. Still, we continue to believe the secular headwinds facing both of HP’s core businesses (personal systems and printing) will ultimately prevent material growth over the next several years, and we believe competition in these...HP is a provider of personal computing and other access devices, imaging and printing products, and related technologies, solutions and services. The company's segments are: Personal Systems, which provides commercial and consumer desktop and notebook personal computers, workstations, thin clients, commercial mobility devices, retail point-of-sale systems, displays and other related accessories, software, support and services; Printing, which provides consumer and commercial printer hardware, supplies, solutions and services, as well as scanning devices; and Corporate Investments, which includes HP Labs and certain business incubation and investment projects.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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