What's Going On With Hewlett Packard Stock After-Hours?
Portfolio Pulse from Erica Kollmann
Hewlett Packard Enterprise (HPE) shares fell over 6% after-hours following the announcement of a $1.35 billion public offering of Series C mandatory convertible preferred stock. The proceeds will fund the acquisition of Juniper Networks and other expenses.
September 09, 2024 | 9:33 pm
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NEGATIVE IMPACT
Hewlett Packard Enterprise's stock dropped 6.08% after-hours following the announcement of a $1.35 billion preferred stock offering. The funds will be used for the acquisition of Juniper Networks and other expenses.
The announcement of a large preferred stock offering typically dilutes existing shareholders, leading to a drop in stock price. The funds are intended for a strategic acquisition, which could be positive long-term, but the immediate market reaction is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100