Wall Street Breakfast Podcast: HP Downsizes To Power Up

HP Inc. (HPQ) - HP shares fell nearly 6% after announcing a weaker-than-expected forecast and plans to cut up to 6,000 jobs [3] - For the first quarter of the next fiscal year, HP expects adjusted earnings between $0.73 and $0.81 per share, with a midpoint of $0.77, slightly below the $0.78 estimate [3] - Despite the weak guidance, HP reported better-than-expected results for the period ending October 31, earning an adjusted $0.93 per share with revenue rising 4.2% year-over-year to $14.64 billion, surpassing analyst expectations of $0.92 per share and $14.53 billion in revenue [4] - HP's CFO stated that the company is taking decisive actions to mitigate cost headwinds and is investing in AI-enabled initiatives to enhance product innovation and customer satisfaction [5] Drug Pricing Negotiations - The Trump administration negotiated a 71% discount on Ozempic and Wegovy for Medicare patients, reducing the price from $959 to $274 for a 30-day supply [6][7] - These price reductions are part of Medicare's drug price negotiation program, expected to save taxpayers $12 billion [7] Foxconn Technology - Foxconn received approval to invest an additional $569 million in Wisconsin to meet the growing demand for AI infrastructure, which will create 1,374 new jobs over the next four years [8][9] - Wisconsin accounts for nearly a quarter of Foxconn's workforce in the U.S., and this investment will double its presence in the state by the end of the decade [9]