HP’s New PC Product Line Gaining Traction But Outlook Disappoints; Shares Overvalued
HP reported third-quarter results that were in line with our expectations. The firm benefited from a moderate PC market recovery, but declines in the printer segment showed no signs of abating. Management expects their core businesses to endure a difficult fourth quarter following the British exit from the European Union, particularly in the supplies and commercial PC markets. We reiterate our no-moat rating and high uncertainty for the company. Despite the 6% pull back in after-hour action, sha...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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