HP Inc. Down Nearly 10%, on Pace for Lowest Close Since February 2017 -- Data Talk

HP Inc. (HPQ) is currently at $16.60, down $1.80 or 9.76%

-- Would be lowest close since Feb. 22, 2017, when it closed at $16.20

-- On pace for largest percent decrease since Feb. 28, 2019, when it fell 17.27%

-- Earlier Friday, four firms cut their price target for HP Inc., Benzinga reported

--On Thursday, the company announced a restructuring that could eliminate 7,000 to 9,000 jobs from its roughly 55,000 workforce over the next three years. The cuts, once completed, should yield annual savings of about $1 billion, the company said at its annual securities-analyst meeting

--On Thursday, company officials said they expect to deliver $1.98 to $2.10 a share for the year that ends Oct. 31, 2020, below the $2.18 analysts surveyed by FactSet were forecasting. On an adjusted basis, which would strip out the restructuring costs and other items, company officials projected a profit of $2.22 to $2.32 a share, compared with analysts' projected $2.24 a share

-- Currently down three of the past four days

-- Currently down two consecutive days; down 10.68% over this period

-- Worst two day stretch since the two days ending March 1, 2019, when it fell 17.82%

-- Down 18.84% year-to-date; on pace for worst year since 2015, when it fell 35.01%

-- Down 45.77% from its all-time closing high of $30.62 on July 13, 2000

-- Down 34.47% from 52 weeks ago (Oct. 5, 2018), when it closed at $25.34

-- Down 34.88% from its 52-week closing high of $25.50 on Nov. 8, 2018

-- Would be a new 52-week closing low

-- Traded as low as $16.46; lowest intraday level since Feb. 22, 2017, when it hit $16.09

-- Down 10.54% at today's intraday low; largest intraday percent decrease since Feb. 28, 2019, when it fell as much as 18.91%

-- Worst performer in the S&P 500 today

-- Second most active stock in the S&P 500 today

All data as of 11:57:27 AM

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

October 04, 2019 12:26 ET (16:26 GMT)

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