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Opening Stocks Buzz: Hewlett-Packard Company, Federal National Mortgage Assctn Fnni, Microsoft Corporation, American Realty Capital Properties

NEW YORK / ACCESSWIRE / May 23, 2014 / Market Buzz Report, which provides up to date coverage, commentary and alerts on OTC and NASDAQ Stocks, issues critical stocks analysis for Hewlett-Packard Company, Federal National Mortgage Assctn Fnni, Microsoft Corporation, American Realty Capital Properties

American Realty Capital Properties Inc(NASDAQ:ARCP - News)’s shares increased 1.55% to $12.45. The company on May 2 announced that the underwriters for its previously announced public offering of 120,000,000 shares of its common stock, par value $0.01 per share, that priced on Wednesday, May 21, 2014, have fully exercised their option to purchase an additional 18,000,000 newly issued shares of common stock, at a price of $12.00 per share (before underwriting discounts and commissions). The offering, including the option shares, is expected to close on Wednesday, May 28, 2014, subject to the satisfaction of customary closing conditions.

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As a result, ARCP will issue a total of 138,000,000 shares in the offering and expects to receive total net proceeds of approximately $1.59 billion, after deducting underwriting discounts, commissions and estimated expenses. ARCP intends to use the net proceeds of the offering (a) to repay outstanding indebtedness under its existing credit facility and (b) for other general corporate purposes.

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Microsoft Corporation (NASDAQ:MSFT - News)’s shares dropped 0.62% to $40.10. The company on May 20 introduced a larger-screen version of one of its Surface tablet computers, offering a lighter and thinner device that the company cast as a potential successor for laptop PCs.

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Additionally, MSFT on May 20 announced the recipients of the 2014 Microsoft Preferred Supplier Program (MPSP) Excellence Awards. The MPSP Excellence Awards recognize superior performance, exemplary service and innovation by suppliers that demonstrate what it means to be a preferred supplier at Microsoft. The purpose of the MPSP is to build long-term relationships with a select group of strategic suppliers that create long-term value for Microsoft.

Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA - News)’s shares fell 0.69% to $4.32. The company on May 16 priced its fifth Multifamily DUS® REMIC in 2014 totaling $1.24 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS(TM) ) program on May 9, 2014.

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Additionally, the company on May 8 posted net income of $5.3 billion from January through March, its ninth straight profitable quarter, as the housing market continued to heal. Fannie's first-quarter profit compared with record net income of $58.7 billion in the same period of 2013. The year-ago figure was mainly due to a one-time accounting move that allowed the company to lower its tax liability by applying losses on delinquent mortgages to its 2013 taxes.

Hewlett-Packard Company (NYSE:HPQ - News)’s shares declined 2.28% to $31.78. The company on May 22 said that it aims to cut another 11,000 to 16,000 jobs by October, bringing the total number of planned layoffs to a maximum of 50,000 and nearly doubling the largest payroll reduction ever for the 75-year-old technology giant. HP's move revises upward a previous target of 34,000 job cuts.

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Additionally, the company on May 22 also announced financial results for its fiscal 2014 second quarter ended April 30, 2014. Second quarter GAAP diluted net earnings per share (EPS) was $0.66, up from $0.55 in the prior-year period and within its previously provided outlook of $0.62 to $0.66. Second quarter non-GAAP diluted net EPS was $0.88, up from $0.87 in the prior-year period and within its previously provided outlook of $0.85 to $0.89.

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SOURCE: Market Buzz Report