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MarketScreener Homepage  >  Equities  >  Nyse  >  Hewlett Packard Enterprise    HPE

HEWLETT PACKARD ENTERPRISE

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Asian stocks pulled higher by Wall St jobs rally but China caution prevails

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12/09/2019 | 03:01am EST
Passersby are reflected on a stock quotation board outside a brokerage in Tokyo

Asian stocks edged up on Monday, catching some of Wall Street's momentum after surprisingly strong U.S. jobs data although regional gains were capped by concerns about China's economy due to the prolonged Sino-U.S. trade war.

Japan's benchmark Nikkei advanced 0.3% while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3%, with Australian stocks and South Korea's Kospi up 0.2% and 0.6%, respectively.

The modest Asian gains compared with Wall Street, which rose to near record highs on Friday on a strong jobs report and some sign of optimism about U.S.-China trade talks, with the benchmark S&P 500 closing within 0.2% of its peak set in late November.

U.S. job growth increased by the most in 10 months in November as the healthcare industry boosted hiring and production workers at General Motors returned to work after a strike, in the strongest sign that the economy is in no danger of stalling.

"This economy is still climbing and shattering the records for longevity," said Chris Rupkey, chief financial economist at MUFG Union Bank. "Right now, the clouds of recession still remain well offshore despite troubled economies elsewhere in the world and a trade war."

Top White House economic adviser Larry Kudlow said on Friday that a Dec. 15 deadline is still in place to impose a new round of U.S. tariffs on Chinese consumer goods, but President Donald Trump likes where trade talks with China are going.

Still, investors think things could change if trade tensions escalate further, especially if Trump goes ahead with planned tariffs on some $156 billion worth products from China from mid-December.

The market has been largely working on the assumption that those tariffs, which cover several consumer products such as cellphones and toys, will be dropped or at least postponed, given that Washington and Beijing agreed in October to work on a trade deal.

Meanwhile, China's exports shrank for the fourth consecutive month in November, underscoring persistent pressures on manufacturers from the prolonged trade war, although growth in imports may be a sign that Beijing's stimulus efforts are working.

U.S. Treasury yields climbed after the strong employment report, with benchmark 10-year notes rising to 1.843%.

The Fed's Open Market Committee (FOMC) kicks off its two-day policy meeting on Tuesday. The central bank is expected to highlight the economy's resilience and keep interest rates on hold in the range of 1.50% to 1.75%.

Analysts said Friday's much better-than-expected jobs report offset mixed signals from recent economic data and validated the Federal Reserve's wait-and-see stance on interest rates after three "insurance cuts" this year.

Oil prices retreated but hovered near recent peaks after OPEC and its allies agreed to deepen output cuts by 500,000 barrels per day in early 2020.

U.S. West Texas Intermediate (WTI) crude slipped 0.4% to $58.94 per barrel, still not far from Friday's 2 1/2-month high of $59.85 per barrel.

In the currency market, the dollar maintained a firm tone on Monday, with the dollar index against a basket of major currencies standing at 97.691 and the euro changing hands at $1.1058, both little changed on the day.

Against the Japanese yen, the dollar was last traded at 108.59 yen, flat on the day.

By Tomo Uetake

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.22% 28015.06 Delayed Quote.20.09%
EURO / US DOLLAR (EUR/USD) 0.08% 1.10666 Delayed Quote.-3.57%
GENERAL MOTORS COMPANY 0.65% 35.54 Delayed Quote.6.25%
HEALTHCARE CO., LTD. 0.30% 19.8 End-of-day quote.22.14%
HEWLETT PACKARD ENTERPRISE -0.13% 15.91 Delayed Quote.20.44%
KOSPI COMPOSITE INDEX 0.55% 2090.25 Real-time Quote.1.83%
LONDON BRENT OIL 0.05% 64.2 Delayed Quote.16.84%
NASDAQ 100 1.07% 8397.367217 Delayed Quote.32.66%
NASDAQ COMP. 1.00% 8656.528802 Delayed Quote.30.46%
NIKKEI 225 0.33% 23430.7 Real-time Quote.16.69%
S&P 500 0.91% 3145.91 Delayed Quote.25.49%
US DOLLAR INDEX 0.30% 97.7 End-of-day quote.1.05%
WTI -0.12% 58.93 Delayed Quote.28.48%
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Financials (USD)
Sales 2020 29 108 M
EBIT 2020 2 832 M
Net income 2020 1 440 M
Debt 2020 9 593 M
Yield 2020 3,04%
P/E ratio 2020 13,4x
P/E ratio 2021 11,8x
EV / Sales2020 1,04x
EV / Sales2021 0,99x
Capitalization 20 588 M
Chart HEWLETT PACKARD ENTERPRISE
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Technical analysis trends HEWLETT PACKARD ENTERPRISE
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 16,93  $
Last Close Price 15,91  $
Spread / Highest target 25,7%
Spread / Average Target 6,44%
Spread / Lowest Target -18,3%
EPS Revisions
Managers
NameTitle
Antonio Fabio Neri President, Chief Executive Officer & Director
Patricia Fiorello Russo Chairman
Tarek A. Robbiati Chief Financial Officer & Executive Vice President
Archana Deskus Chief Information Officer
Mark R. Potter CTO & Director-Hewlett Packard Labs
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