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Tech Stocks in Hub;) Hewlett Packard Enterprise Co (NYSE:HPE), Frontier Communications Corp (NASDAQ:FTR)

Shares of Hewlett Packard Enterprise Co (NYSE:HPE) decreased -0.68% and closed at $17.40 after opening 17.34 with the overall traded volume of 29.94 million shares. The company’s Market capitalization reached to $28.65 billion, $1.65 billion outstanding shares. Its low price was $16.95 and the highest price was $17.58.

Hewlett Packard Enterprise Co (HPE) on May 31, 2017 announced financial results for its fiscal 2017 second quarter, ended April 30, 2017, which have been recast to reflect the spin-merger of its Enterprise Services business as discontinued operations.

  • Combined net revenue of $9.9 billion includes $7.4 billion from continuing operations (Enterprise Group, HPE Financial Services and Software) and $2.5 billion associated with discontinued operations (two months of Enterprise Services)
  • Future HPE (excludes Enterprise Services and Software) revenue was up 1% year-over-year, excluding Tier-1 server sales and when adjusted for divestitures and currency
  • Second quarter GAAP diluted net loss per share of ($0.37), below the previously provided outlook of ($0.07) to ($0.03) per share, due to spin-merger related, non-cash tax valuation allowances and divestiture taxes
  • Second quarter non-GAAP diluted net earnings per share of $0.35, within the previously provided outlook of $0.33 to $0.37 per share
  • Fiscal 2017 GAAP diluted net EPS outlook updated to ($0.03) to $0.07
  • Fiscal 2017 non-GAAP diluted net EPS outlook remains $1.46 to $1.56

“Despite some current headwinds, we delivered Q2 non-GAAP EPS in line with our outlook,” said Meg Whitman, President and CEO, Hewlett Packard Enterprise. “We saw strength in major components of our growth strategy, including high-performance compute, Aruba, all-flash storage and Technology Services. While we still have much more work to do, HPE’s Q2 results give me confidence that our efforts are delivering for customers and partners.”

Shares of Frontier Communications Corp (NASDAQ:FTR) closed at $1.30 after opening 1.32 with the overall traded volume of 29.36 million shares. The company’s Market capitalization reached to $1.53 billion, $1.18 billion outstanding shares. Its low price was $1.29 and the highest price was $1.34. The EPS is -0.41. On June 2, 2017 Frontier Communications Corp (FTR) is making enhanced broadband service available to previously unserved residents in 25 counties throughout Ohio, Elena Kilpatrick, Frontier Senior Vice President of Operations, announced today.

This deployment reflects a combination of Frontier capital investment and the FCC’s Connect America Fund (CAF) over the past 18 months and brings new broadband opportunities to approximately 12,600 CAF-eligible households while improving speeds to an additional 33,600 households.

“Through ongoing network investments, Frontier is providing broadband and faster speeds to residents throughout the 25 counties where the CAF investment has been made,” Kilpatrick said. “We have been aggressively deploying and upgrading our broadband service and look forward to serving more local residents.”

The FCC established the CAF in 2011 to facilitate broadband deployment to the millions of Americans living in rural areas without access to broadband infrastructure. The CAF program and investments by Frontier are enabling broadband access to previously unserved households, as well as improvements in broadband speeds and services. Simplified broadband offerings and bundled service packages that provide customers with choice and affordable options are also available.

Speeds as fast as 45 Mbps are available, depending on the distance from Frontier’s nearest facilities.

Broadband availability allows businesses and consumers to take full advantage of online education, healthcare, and entertainment options. “Broadband connectivity is critical today, especially in more rural areas,” said Kilpatrick. “Through investment and ongoing enhancements, Frontier is helping to close America’s digital divide.”