Stocks in Aggressive Mood: Hewlett-Packard Company (NYSE:HPQ), Canon Inc. (NYSE:CAJ)

April 26, 2023 8:45 am0 commentsViews: 92

Hewlett-Packard Company (NYSE:HPQ) reported that Judge Charles Breyer, Senior District Judge of the United States District Court for the Northern District of California, has approved the final settlement of the U.S. HP Autonomy shareholder derivative litigation. The lawsuit is related to HP’s troubled $11.1 billion takeover of British software company Autonomy Corp. in 2011. “HP is pleased with the court’s decision today. This will be the best outcome for our shareholders and we will be happy to put this matter behind us,” HP said in a statement.  Hewlett-Packard Company (NYSE:HPQ) stock hit highest price at $31.41, beginning with a price of $31.18 and reported a decrease of -1.34% to close at $30.81 with a day range of $30.54-$31.41. The total market capitalization remained 55.66 Billion, total volume of 23.21 Million shares held in the session was surprisingly higher than its average volume of 11382.29 shares.

Abengoa SA (ADR) (NASDAQ:ABGB) released that it has reached an contract with Abengoa Yield (ABY) to sell a fourth asset package comprised of two solar assets for a total cash proceeds of approximately 277 million euros. The company said the transaction has been approved by both Abengoa’s and Abengoa Yield’s board of directors. The deal is not subject to financing by the purchaser. The assets consist of Solaben 1 and 6, recently rated by S&P as BBB, two 50 MW solar plants located in the Extremadura region of Spain, which have been in operation since 2013.

Japanese camera and printer maker, Canon Inc. (NYSE:CAJ) released that its Q2 net income attributable to the company declined 15.7% to 68.20 billion yen or $558.98 million from last year’s 80.85 billion yen. Earnings per share were 62.44 yen or $0.51, down 14% from 72.61 yen last year. Income before income taxes for the quarter dropped 11.7% to 103.24 billion yen or $846.19 million. Looking ahead, Canon projects full-year consolidated net sales in 2015 of 3.93 trillion yen, a year-on-year increase of 5.4%, Operating profit of 380.0 billion yen, a year-on-year increase of 4.5%, and net income attributable of 245.0 billion yen, a year-on-year decrease of 3.8%.  Shares of Canon Inc. (NYSE:CAJ) traded at $31.51 by plunging -1.35% with price volatility of 0.50% for a week and 0.83% for a month. Its beta stands at 0.60 times.

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