Employee Morale On The Up At HP
Morale at HP is on the increase after recording improved earnings and free cash flow.
This is according to Morgan Stanley analyst Katy Huberty, who upgraded the ink specialist to an "overweight" rating due to its better-than-expected results.
Ms Huberty explained that, while revenue growth will be a challenge, the company is moving forward.
"First, earnings per share will benefit from the full $2.2 billion in cost savings by the end of fiscal year 2014. Free cash flow will also benefit from $500 million less restructuring cash outflow," she explained.
Ms Huberty continued by saying that employee morale is improving with higher stock prices and leaner infrastructure, allowing for better execution in businesses such as PCs and services.
This month, HP announced that its machines will be able to print documents from Samsung's GALAXY S4 mobile phone.
Nearly 200 HP printer models will be supported by the feature, including inkjet and LaserJet lines.
Posted by Barry Ashmore.