Stocks Buzz: Hewlett-Packard Company, Herbalife Ltd, Wells Fargo & Company
2013-03-01 11:22 ET - News Release
NEW YORK, March 01, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Hewlett-Packard Company, Herbalife Ltd, Wells Fargo & Company.
Hewlett-Packard Company(NYSE:HPQ) has released new big data tools to provide businesses with better information security intelligence gathering capabilities. It has also launched a new information security research group that will provide better threat intelligence for HP's own security products.
On the big data front, HP said users of HP ArcSight's security information and event management (SIEM) can now integrate the software with the HP Autonomy IDOL content analytics engine. This helps businesses to translate raw security data into more actionable intelligence.
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To help businesses monitor more security events simultaneously, HP has also released a new HP ArcSight/Hadoop Integration Utility, which integrates HP ArcSight ESM 6.0c with Apache Hadoop, the open source data processing platform that's been driving the push toward big data.
The company has also launched a new HP ArcSight Cloud Connector that enables companies to collect application event and log data from cloud service providers.
Nutrition products distributor, Herbalife Ltd.(NYSE:HLF) has taken on board two new members, who are representative of billionaire investor Carl Icahn.
Icahn has a stake of about 13.6 percent in the company and, under an agreement with Herbalife, can take his stake up to 25 percent.
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The activist investor has championed Herbalife against a tirade unleashed by hedge fund manager William Ackman, who has accused the company of running a pyramid scheme.
Herbalife Ltd. shares rose $2.85 or 7.6 percent to close at $40.29.
"We appreciate the Icahn Parties' shared views on the inherent value of Herbalife's operations, products and future prospects," said Herbalife Chairman and CEO Michael Johnson.
Home lender Wells Fargo & Company(NYSE:WFC), said that the cost due to faulty mortgages could possible go up to $2.4 billion, a rise of $300 million from a year earlier and swamping is own reserves.
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In a regulatory filing on Thursday the company said that projected expenses for refunds on bad loans sold to investors represented the worst case for possible losses and that could be in excess of its recorded liability.
It however trimmed the cost associated with litigation to $1 billion from $1.2 billion. Banks and mortgage lenders who were associated with the sub-prime mortgage scandal of 2007 are still cleaning up long after the event and paying out penalties arising from the bad loan decisions that were made.
Earlier the company had said it had set aside $1.67 billion in reserves to cover the cost of buying back mortgages from investors.
According to a Bloomberg report, the bank is being probed by the Consumer Financial Protection Bureau, which is going through the finance company's mortgage originations and compliance management procedures.
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