|Bid||16.71 x 1200|
|Ask||17.48 x 1100|
|Day's range||16.12 - 17.31|
|52-week range||12.54 - 23.93|
|Beta (5Y monthly)||1.38|
|PE ratio (TTM)||8.34|
|Forward dividend & yield||0.70 (3.93%)|
|Ex-dividend date||09 Mar 2020|
|1y target est||N/A|
Today we dive into three cheap stocks trading under $20 a share that also pay a dividend that investors might want to buy now during coronavirus volatility...
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
By offering free access to its GPU-accelerated genome analysis toolkit, Parabricks, to researchers, NVIDIA joins the group of tech companies trying to contain the spread of the coronavirus pandemic.
HP CEO Enrique Lores tells Yahoo Finance demand for PCs and printers have been strong as people work from home during the coronavirus pandemic.
The Dow and the S&P 500 closed in the positive territory on Wednesday as investors remained hopeful that the U.S. Senate will pass a $2 trillion economic rescue package to boost beaten-down stocks.
HP (HPQ) is leveraging the 3D printing technology to produce hands-free door openers, face mask adjusters and face shield for health workers attending to coronavirus patients.
(Bloomberg) -- HP Inc. again asked shareholders to reject Xerox Holdings Corp.’s takeover offer, saying that a complex merger could be “disastrous” for the personal computer giant amid economic shocks stemming from the Covid-19 pandemic.“Under these circumstances and consistent with our fiduciary duties, we believe that we should not divert valuable time, attention and resources to a dialogue with Xerox about its proposed transaction,” the Palo Alto, California-based company said Wednesday in a letter to investors. “Since Xerox launched its unsolicited exchange offer and nominated directors, the global, social, economic and financial environments have changed radically. Despite this, Xerox continues to advance its tender offer and its proposed slate of directors in an effort to force a combination.”Xerox has sought to acquire HP, the world’s second-largest personal computer maker, for $24 a share in cash and stock, a deal valued at roughly $35 billion. Xerox said this month it would pause its pursuit of HP during the pandemic, but the company planned to resume the effort when the situation improved, Bloomberg News reported. Xerox has launched a tender offer for outstanding shares of HP and also nominated a slate of directors to replace the company’s board.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Xerox's (XRX) bottom line is benefiting from "Project Own It," an initiative aimed at increasing productivity and efficiency, reducing costs, and realigning business to changing market conditions.
Best Buy's stores have been packed amid the rush to buy work-from-home gear during the coronavirus pandemic.
(Bloomberg) -- Google employees in Europe could soon have more power to challenge company decisions after the search giant approved the creation of a council that will represent the interests of thousands of its workers across the continent.Earlier this month, a group of 153 Google employees from 11 European offices wrote to the company’s management requesting the establishment of the council, according to three people familiar with the matter. Last week, Google’s management agreed to take the first steps toward creating the council and will soon begin negotiating with employees about its scope, the people said.The creation of such works councils-- which aim to give employees the right to be consulted by management about issues such as organizational changes or job cuts -- is required by the European Union if enough of a company’s employees in at least two countries file a written request.The works council is likely to include employee representatives from more than 35 Google offices across Europe, according to the people familiar with the matter. It will meet several times annually in Dublin, the people said.A spokeswoman for Alphabet Inc.’s Google said in a statement that the company had “always encouraged constructive and open dialog with Googlers, and we always will.”She added, “We look forward to working together with our employees on this.”The move could represent an opportunity for Google and its European employees to improve relations that in recent years have frayed over working conditions and decisions made by senior leadership at the company. In the last two years, the search giant has endured a series of internal protests as employees have complained about controversial contracts with the U.S. military, a plan to build a censored search engine in China and multimillion dollar payments to executives accused of sexual harassment.“The point of the works council is to be the voice of the employees -- to express concerns and to find better solutions,” said Gabriel Kerneis, a Google software engineer who is based in Paris and was involved with the effort to set up the council. “We hope that it will create a fairer process.”The works council can’t veto company decisions, but the process means that employees should be consulted and can sometimes cast a vote to oppose or approve certain measures, allowing for greater input into management plans before they are finalized, said Kerneis.Google already has a works council in place in Paris, as mandated by French law. A similar council is currently being set up by employees in the company’s Zurich office, according to a person familiar with developments there. However, the nation-level councils can only consider issues relevant to their respective offices.Last year, employees who were involved in organizing internal protests at Google alleged that the company had retaliated against them, demoting them from their positions and effectively forcing them to leave the company. The search giant was also accused of developing an internal spy tool to monitor worker activism and of trying to shut down workers’ attempts to learn about their rights in Zurich. Google has denied allegations that it has sought to suppress employee activism.After those incidents, employees who were involved in trying to establish the European works council said that they were concerned that their efforts to gather support would be met with a harsh response from senior leadership, who they feared might try to shut them down.In the end, employees were pleasantly surprised by the positive response they say they received from company management, according to several employees.“We didn’t know what would happen, but there’s not been any blow back so far, which has been great,” said Hannah Pascal, a senior software engineer at Google who is based in London and was involved with the effort to set up the council. “These issues that are coming up -- complaining about retaliation, or taking on dodgy contracts -- we hope the council is going to allow us to have more of an eye-level discussion with management about them.”There is a legal mandate in the E.U. for the creation of works councils. A 2009 directive states that if a group of 100 employees from offices in two or more E.U. countries submit a written request for the establishment of a works council, central management must initiate negotiations to form one.Other large American technology companies, including Oracle Corp., HP Inc. and Dell Technologies Inc., have similar works councils in place in Europe. The results have been mixed. In 2012, for instance, the European works council at Hewlett-Packard sued the company, alleging that it had obstructed the council’s right to be consulted on planned job cuts.“There’s resistance from some employers, but others have embraced it and recognized it is a good way of developing trust among staff,” said Catherine Barnard, professor of E.U. law at Cambridge University. “It depends how cooperative or otherwise both sides are, and how willing both sides are to engage.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- The coronavirus pandemic is spurring purchases of computer monitors, keyboards and webcams as millions of workers are forced to turn dining tables, spare rooms and other domestic space into home offices.Many of the world’s largest companies have told employees to work from home, and several areas are imposing stricter limitations on movement. That’s causing people to rush out and buy items they’re used to having at the office.San Francisco Tells People Stay Home; Roche Tests: Virus UpdateMichael Thompson, an account executive at startup Human Interest, was in an Office Depot in Silicon Valley on Sunday morning trying to buy a monitor. His company is letting employees expense up to $100 for this home-office equipment. He asked a salesman about 27-inch models, but they were sold out.”I’ll just go to Best Buy,” Thompson said.”Best Buy is sold out and they’re sending people here,” the salesman replied. Thompson ending up getting a 24-inch monitor made by Acer Inc. for $99 -- one of six monitors available for sale in the store at the time.Demand from Thompson and other workers is a rare bright spot for the technology industry as it faces a slump in economic activity and supply-chain disruptions from the pandemic. About 14% of people planning to work from home are buying new tech equipment, according to an online survey with more than 3,000 respondents by CivicScience on Monday.Samsung Electronics Co., LG Electronics Inc., AU Optronics Corp. and BOE Technology Group supply the displays that go into monitors sold by companies such as HP Inc., Dell Technologies Inc. and Acer. Microsoft Corp. and Logitech International SA dominate the market for high-end keyboards and mice favored by tech workers.“Logitech is one of the best-positioned companies in the face of a global pandemic, as its products enhanced a person’s ability to be both entertained and productive at home,” Wedbush Securities analysts wrote in a recent note to investors. “As more people choose to or are encouraged to work from home, we expect demand to surge for Logitech’s Creativity & Productivity products, along with Video Collaboration.”Logitech shares edged higher in Swiss trading on Monday, while most European stocks slumped on concern about the pandemic. On Tuesday, Logitech jumped 3.4%. HP said on Tuesday that demand for its products “is holding” and its factories are “steadily coming online.” The company is monitoring customer needs as circumstances change, it said in a statement.The Office Depot on Geary Boulevard in San Francisco was mostly sold out of monitors on Saturday. “It’s just like toilet paper and hand sanitizer,” said a salesman.Some of the top product searches on Amazon.com Inc. last week were for hand sanitizer and other products to prevent the spread of the virus, but webcams and monitors are shooting up the rankings now, according to analysis by Marketplace Pulse.“Computer monitor” rose 410 spots and “webcam” shot up 1,297 places on the list of most widely used search terms, according to the market researcher. Docking stations from Dell and Microsoft, which connect laptops to monitors and other tech gear, have also risen the ranks of best-sellers in Amazon’s electronics categories.The personal computers at the center of all this new gadgetry are mostly being brought home from workers’ offices. That will likely limit any PC sales bump. Many people already have laptops at home, too.“Most large organizations provide knowledge workers with company laptops regardless of location,” said Mikako Kitagawa, an analyst at research firm Gartner.Before the virus outbreak caught hold in Europe and the U.S., IDC analyst Jitesh Ubrani was estimating that PC shipments would drop 8.4% in the first quarter.“I don’t think it’s enough to turn the PC market around,” he said.(Updates with HP comment in 10th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- President Donald Trump declared a state of emergency that would free up $50 billion for the testing and care of the rising number of coronavirus cases in the U.S. in a tight election year battered by financial collapse.“Two very big words,” he said after declaring the national emergency. Trump also outlined a public-private partnership in testing. Stocks gained the most since 2008.House Speaker Nancy Pelosi said she’d drafted a bill with free testing and 14 days sick leave. The Senate will vote next week.New York Governor Andrew Cuomo said the state -- now with the most cases in the U.S. -- won approval to do its own testing.Germany pledged to spend billions, and the European Union is ready to allow fiscal stimulus as the bloc expects the economy to shrink this year.Key Developments:Cases rose to 138,166 worldwide, with deaths topping 5,100China cases drop to single digits for the first time since JanuaryRoche advanced after approval for faster new testAustralian minister who met Ivanka Trump last week tests positiveEuropean stocks jump the most since 2008, and U.S. shares bounce backSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here.Click VRUS on the terminal for news and data on the coronavirus and here for maps and charts. For analysis of the impact from Bloomberg Economics, click here. To see the impact on oil and commodities demand, click here.D.C. Scales Back Mass Transit (3 p.m. NY)The Washington, D.C., transit agency will scale back bus and subway service starting Monday as system employees deal with school closings in Maryland, Virginia and the District, which are keeping more children at home.The Washington Area Metropolitan Area Transit Authority said trains will run every 12 minutes Monday through Friday, less frequently than every five minutes typical during weekdays, while bus service will run on a Saturday schedule.The system carried an average of 631,000 riders daily in January.Pelsoi Announces Democratic Plan to Fight Virus (2:30 p.m. NY)Speaker Nancy Pelosi said the House will pass a bill helping Americans deal with the spreading coronavirus. It was drafted without direct input from President Trump, though with one of his top aides, Treasury Secretary Steven Mnuchin.Majority Leader Steny Hoyer said separately that the bill “incorporates nearly all of what the administration and Republicans have requested.”In an email to House Democrats, Pelosi said the deal included free testing and 14 days of paid sick leave. The Senate would not take up any bill until next week.Eiffel Tower Emptied; Louvre Remains Shut (2:25 p.m. NY)Two of Paris’s landmarks are closed: The Eiffel Tower shut down on Friday, Agence France Presse reported. And the Louvre has not reopened since Sunday.France banned any gathering of more than 5,000 people.Cuomo Says NY Will Do Its Own Testing (2:03 p.m. NY)New York Governor Andrew Cuomo said he spoke with President Donald Trump and Vice President Mike Pence and they agreed to let the state run its own testing.The approval means that by next week, New York will be able to perform 6,000 tests per day, Cuomo said at a press briefing. To date, the state has tested about 3,200.He also said New York now has the largest number of coronavirus cases in the nation, 421, with 154 in an increasingly shuttered New York City.More New Cases Being Reported Than China Did at Peak (1 p.m. NY)Europe has become the epicenter of the outbreak and the world is reporting more new cases of Covid-19 each day than China did when the disease peaked in that country, the head of the World Health Organization said at a briefing. Director-General Tedros Adhanom Ghebreyesus said canceling sporting events can help slow the spread and he called on political and religious leaders to give more moral guidance. He said the 5,000 reported deaths is a “tragic milestone.”“The virus will always get you if you don’t move quickly,” and social distancing, while not a panacea, can slow the spread, said Mike Ryan, head of the WHO’s health emergencies program. Countries shouldn’t abandon contact tracing, and blanket travel bans often don’t prevent the disease from crossing borders, he said. The WHO will speak more about ongoing clinical trials on therapies next week, he added.The situation will worsen in many countries before it gets better, said Maria Van Kerkhove, a WHO epidemiologist. While the situation is improving in Asia, countries where the disease has peaked could experience relapses, she said.Louisiana, London to Postpone Upcoming Votes (12:44 p.m. NY)Louisiana has postponed its April 4 presidential primary over concerns about coronavirus, the first state to consider suspending voting since the outbreak began.Boris Johnson delayed U.K. local elections scheduled for May 7, including the London mayoral vote.The European Union’s two highest courts, based in Luxembourg, will postpone all hearings that were scheduled for the next two weeks.NYC Hotels Face Bankruptcy, Closures (10:30 a.m. NY)The rapidly escalating restrictions on travel and social gatherings will make it hard for New York City hotel owners to keep creditors at bay, the head of a local trade group said.Revenue per available room, a metric known as RevPar that combines occupancy and pricing, is down as much as 70% at some hotels, according to Vijay Dandapani, chief executive officer at the Hotel Association of New York City.Virus Fears Hit Sports Leagues Around the World (10:15 a.m. NY)The Masters golf tournament was postponed, and other sports events including the NCAA basketball tournament, Major League Baseball, the PGA Tour and the National Hockey League were suspended. England’s Premier League called off all matches after Arsenal Football Club head coach Mikel Arteta tested positive.U.S. President Donald Trump suggested the Tokyo Olympics should be postponed, as the events’ organizers denied they were considering changing the start planned for July 24. “I would say maybe they postpone it for a year,” Trump said, but added that he does not plan on making the recommendation to Japanese Prime Minister Shinzo Abe.The Indian Premier League, a cricket tournament set to start March 29, has been suspended until April 15. And Formula One confirmed it will cancel this year’s season-opening Australian Grand Prix event in Melbourne.European Economy Expected to Shrink (9:20 a.m. NY)Economic output for the euro area and the EU as a whole is likely to shrink this year, with the rate of change potentially “considerably below zero,” a European Union official told reporters in Brussels.The baseline assumption for the bloc’s executive arm is that EU GDP will contract by around 1% this year, a separate official said.Cases Jump Across Europe (8:50 a.m. NY)Diagnosed cases in Spain jumped to 4,209, from 3,004 on Thursday evening, the Health Ministry reported. The country reported 120 deaths, compared with 84 the previous day. Prime Minister Pedro Sanchez is scheduled to make a statement this afternoon.U.K. coronavirus cases rose to 798 from 590. Fatalities in the Netherlands doubled overnight, bringing the total to 10. Confirmed cases spiked 31% to 804.Switzerland reported a 24% jump in confirmed cases to 1,009, with seven deaths so far. The southern canton of Ticino, which borders Italy and has a 68,000-strong Italian labor force commuting across the border every day, said schools would be closed from Monday.EU Set to Green Light Spending, Germany Pledges Cash (8:45 a.m. NY)The EU’s executive arm pledged maximum flexibility in the bloc’s fiscal and state-aid rules. The European Commission signaled the bloc’s draconian fiscal rules could be suspended altogether, allowing cash injections to companies struggling with the fallout of the viral outbreak, such as airlines and the tourist industry, as well as emergency spending on healthcare services.Earlier, Germany pledged to spend whatever is needed to mitigate the economic impact of the coronavirus. The country’s goal is to make sure firms have sufficient liquidity to get through the crisis unleashed by the outbreak, the finance and economy ministries said in a joint statement Friday. Finance Minister Olaf Scholz said there will be no limit to the money available and Germany may need to take on additional debt to finance the spending spree.Xerox to Postpone Meetings With HP Shareholders (8:35 a.m. NY)The company said it is prudent to postpone releases of additional presentations, interviews with media and meetings with HP shareholders to focus on protecting its various stakeholders from the pandemic.Iran’s Army to Empty Streets; Cases Surge (8:35 a.m. NY)Iran’s army will be emptying streets, roads and shops across the country within 24 hours, semi-official ISNA reported. The commander of the army’s ground forces said disinfecting streets and roads across all cities was part of the group’s agenda, a day after Supreme Leader Ali Ayatollah Khamenei called on the armed forces to help combat the virus.The health ministry earlier reported 1,289 new coronavirus cases and 85 deaths in the past 24 hours, bringing the nationwide totals to 11,364 cases and 514 deaths. A ministry spokesman said emergency room admissions in recent days have reduced, with empty beds in some hospitals. About 3,529 people have recovered from the virus so far.U.S. Testing to Accelerate Within a Week, Fauci Says (8:10 a.m. NY)Testing for coronavirus in the U.S. will accelerate within the next week because of increased coordination with private companies, the government’s top infectious disease scientists said. “I think we are going to see a much different situation than we saw just a few weeks ago,” Anthony Fauci, director of the National Institute for Allergy and Infectious Diseases, told MSNBC.Fauci had told U.S. lawmakers on Thursday that the testing of Americans thus far “is a failing.”“What has changed is that there has been a major involvement of the private sector -- the companies that generally do these kinds of tests as a living -- are now going to be major league involved in getting these tests to the public,” Fauci said Thursday. “Whereas before it was mostly on the burden of the CDC as a public health organization.”Roche Holding AG won emergency approval from the U.S. government for a highly automated coronavirus test, potentially allowing a 10-fold acceleration in the ability to test patients.U.K.’s SFO Shuts London Office (7:55 a.m. NY)The U.K.’s Serious Fraud Office shut its London office and sent staff home after a possible outbreak of coronavirus. More than one member of staff has suspected symptoms, although no cases have been confirmed, a spokesperson said. Employees have been working from home since Thursday as a precautionary measure and offices will re-open once it’s deemed safe.Glencore London Employee Tests Positive (7:03 a.m. NY)The company has asked everyone in its London office to work remotely while deep cleaning takes place on Friday and over the weekend, as a precautionary measure. Glencore’s London office is the company’s base for its oil trading team.Outbreak Could Lead to Millions of Tourism Job Losses (6:38 a.m. NY)The coronavirus outbreak that has left hundreds of flights grounded and dozens of cruises docked could result in 50 million jobs lost in the tourism industry globally, according to an estimate from the World Travel and Tourism Council, an organization that represents the tourism private sector. The figure was calculated estimating that the outbreak will impact the sector for 3 months, said WTTC director Virginia Messina.Nordic Countries Try to Limit Fallout (6:20 a.m. NY)With the number of confirmed cases now well above 2,000, the Nordic region has cut interest rates, introduced business tax breaks and shuttered schools, as policy makers attempt to contain the spread of the coronavirus in Europe’s northern tip.The central banks of Norway and Iceland both held unscheduled meetings to reduce their benchmark rates this week, while Norway has followed Denmark’s example by shutting schools and universities for weeks. Governments have also vowed to support businesses and financial institutions with tax breaks, loan facilities and lower capital requirements. Sweden’s Riksbank has decided to lend up to $51 billion to the country’s banks.Frankfurt Airport’s Traffic Drop Reveals Extent of Virus Hit (6:12 a.m. NY)Frankfurt airport said passenger numbers are declining exponentially, almost halving in recent days, in a stark illustration of the devastation the coronavirus is wreaking on the global travel market. The tally slumped 30% last week from a year earlier, double the drop seen toward the end of February.Correct: U.K. Strategy for Millions to Catch Virus (6:10 a.m. NY)The U.K. government’s strategy to tackle the outbreak will need almost 40 million Britons to catch the disease to work, according to the country’s top scientific adviser. “Sixty percent is the sort of figure you need to get herd immunity,” the government’s Chief Scientific Adviser Patrick Vallance told Sky News.He was referring to the point where a high enough proportion of the population has had an illness -- and gained immunity to it -- that it won’t be transmitted to those who haven’t had it. The government wants to achieve this over the summer months, before the next winter sets in.The figure is likely to be controversial, and comes a day after Johnson told reporters many families can expect to lose their loved ones and that the nation is facing the greatest public health crisis in a generation. His approach has been criticized by other medical experts because measures announced so far are relatively restrained compared to other countries.Asia’s Central Banks Try to Calm Virus-Hit Markets (1) (5:21 p.m. HK)Asian central banks moved aggressively to counter the market carnage, pumping liquidity into the financial system and discussing emergency action. The People’s Bank of China injected $79 billion into the economy through a reduction in reserve ratios for banks. The Bank of Korea is considering a special meeting to tackle wild swings in the foreign-exchange market, and Japan offered to provide as much as 2.2 trillion yen ($20.8 billion) of liquidity in three different operations.Regulators Step In to Steady Markets (4:54 p.m. HK)After a brutal trading session on Thursday, Italian and Spanish securities regulators banned short sales during Friday on some stocks. The Spanish ban will affect 69 stocks, while in Italy 85 stocks will be affected. Italy’s FTSE MIB plunged 17% on Thursday, while Spain’s IBEX-35 slumped 14%, both record losses, amid a global sell-off. Both benchmarks rose at least 3.3% on Friday.In Germany, short selling will not be banned for now, a spokesman for the Deutsche Boerse said. Switzerland’s SIX Exchange isn’t planning a ban, while Dutch market regulator AFM said it is monitoring the situation.Short-selling restrictions were also put in place for some Asian markets, with South Korea’s Financial Services Commission going the furthest by banning short-selling of shares listed on Kospi, Kosdaq and Konex for six months. In Thailand, short sales were not banned, but rules are being adjusted for current market conditions, according to the President of the country’s stock exchange.(A previous version was corrected to fix Patrick Vallance’s title)\--With assistance from Sophie Alexander, John Tozzi, Dina Bass, John Martens, James Paton, Olivia Konotey-Ahulu, Nick Rigillo, Laura Millan Lombrana, Yasna Haghdoost, Elizabeth Wasserman, Caitlin Webber, Viktoria Dendrinou, Jennifer Jacobs, Saleha Mohsin, Jenny Leonard, Bryce Baschuk, Alex Morales and Henry Goldman.To contact Bloomberg News staff for this story: Adveith Nair in London at email@example.comTo contact the editors responsible for this story: Stuart Wallace at firstname.lastname@example.org, ;Drew Armstrong at email@example.com, Ian FisherFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The U.S. printer maker added that it does not consider the decline in HP shares since the date of its offer as a broader sell-off could affect its bid. "We believe it is prudent to postpone releases of additional presentations, interviews with media and meetings with HP shareholders so we can focus our time and resources on protecting Xerox's various stakeholders from the pandemic," Xerox's Chief Executive Officer John Visentin said in a statement on Friday. Earlier this month, HP rejected Xerox's raised takeover bid of about $35 billion (27.8 billion pounds), saying it undervalued the personal computer maker.
(Bloomberg) -- Xerox Holdings Corp. said it will pause its public pursuit of HP Inc. amid the outbreak of the coronavirus.“Xerox needs to prioritize the health and safety of its employees, customers, partners and affiliates over and above all other considerations, including its proposal to acquire HP,” Xerox Chief Executive Officer John Visentin said in a statement Friday, adding that the company continues to monitor the situation closely.Norwalk, Connecticut-based Xerox intends to continue its pursuit of HP when the pandemic stabilizes, according to a person familiar with the matter, who asked to not be identified because the matter isn’t public. A representative for HP was not immediately available for comment.Xerox’s shares have fallen about 33% over the past month through Thursday’s close while HP’s have fallen about 18%. Xerox rose 3.7% Friday to $24.78 per share at of 9:43 a.m. in New York. HP’s shares jumped 3% to $18.10 at the same time as U.S. stocks rebounded from their worst day since 1987.Xerox offered to acquire the much larger HP for $24 a share in cash and stock, or roughly $35 billion, in a hostile takeover. It has also nominated a slate of directors to replace the company’s board. HP has repeatedly rebuffed its efforts, arguing the takeover price undervalues the company and has raised other issues with the proposal.The printer maker said it would be forced to take a break from its hostile takeover and proxy fight in the wake of the pandemic.“We believe it is prudent to postpone releases of additional presentations, interviews with media and meetings with HP shareholders so we can focus our time and resources on protecting Xerox’s various stakeholders from the pandemic,” Visentin said.Dealmaking across the world is being hampered by the spread of the coronavirus. The volume of M&A announced through the end of February was down 27% to $419 billion, the slowest start to a year since 2013, according to data compiled by Bloomberg.(Updates share prices in fourth paragraph)To contact the reporter on this story: Scott Deveau in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, Matthew MonksFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
IDC cuts 2020 worldwide IT spending forecast as the coronavirus crisis may compel corporates to cut or postpone their non-essential technology investment plans.
HP's (HPQ) new suite of products and solutions will allow customers to build the digital Print Factory of the Future in order to automate production and minimize operator touchpoints.