Barclays Maintains an 'Underweight' on Lexmark International (LXK); Re-Look at the Numbers
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Wells Fargo Maintains a 'Market Perform' on Hewlett-Packard (HPQ); One Less Inkjet Competitor In a Shrinking Market
August 28, 2012 1:09 PM EDTWells Fargo maintains a 'Market Perform' on Hewlett-Packard (NYSE: HPQ) price target range of $18-21.
Analyst, Maynard Um, said, "...The overall inkjet market in Q2 declined nearly 13%
year over year, according to IDC. Lexmarks (NYSE: LXK)... More
Lexmark (LXK) Plans Restructuring, Will Cut 1,700 Jobs; Approves Additional $100M Buyback
August 28, 2012 6:28 AM EDTLexmark International, Inc. (NYSE: LXK) announced restructuring actions, including the exiting of the development and manufacturing of the company's remaining inkjet hardware, which are expected to result in annualized savings of $95 million once fully implemented. Lexmark will continue to provide service, support and aftermarket supplies for its inkjet installed base.
The restructuring actions announced today are expected to result in reductions primarily in inkjet-related infrastructure as well as positions in research and development, supply chain and other support functions.
The actions include closing the Cebu,... More
