Back to top

Analyst Blog

Zacks Equity Research

H-P's Converged Suite for EastWest Bank

HPQ IBM EMC

 ZacksTrade Now

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Computing giant Hewlett-Packard Co. (HPQ - Analyst Report) or H-P recently announced that Philippines-based EastWest Bank opted for its Converged Infrastructure portfolio. Financial details of the deal were kept confidential.

Formed in 1994, EastWest Bank provides full-service commercial as well as investment banking facilities across U.S. and Greater China. The Bank has acquired a leading position in credit card issuance and auto-loan processing. To maintain its leadership, the Bank had no option but to opt for a competitive information technology infrastructure for managing its operations.

With H-P’s Converged Infrastructure portfolio, EastWest Bank expects to expand its banking services and deliver utmost customer satisfaction. After evaluating the cloud solutions offered by tech giants such as EMC Corp. (EMC - Analyst Report) and IBM Corp. (IBM - Analyst Report), EastWest Bank chose H-P’s solutions to replace its legacy IT infrastructure and transition swiftly to a private cloud environment.

From the portfolio, the Bank selected 3PAR StoreServ T400 Storage System and ProLiant DL360 Servers. EastWest Bank confirmed that the end-of-day financial closing processing time has been reduced by 40.0%. Also, there has been a remarkable reduction in data recovery time i.e. from 4 hours to merely an hour.

We believe H-P’s success with EastWest will bring in similar deals as growing banking needs and their fulfillment would call for advanced IT infrastructure.

Just a month ago, U.S.-based privately-held online payment processing company, First Data Corp. opted for H-P’s Converged portfolio to boost its capabilities in handling growing demand for e-commerce and online payments as well as remain competitive.

Demand for H-P's Converged suite is growing as it brings together servers, storage and networking products to manage data centers from a common platform. The Converged platform has been designed to make data center handling simpler, more flexible, efficient and cost effective.

Deal wins from different industrial sectors do not come as a surprise but winning deals in the storage, server and software areas is significant. While there may not be a remarkable increase in near-term revenues, it could ultimately offset the challenges in the PC business and competition from Dell Inc. .

Currently, H-P has a Zacks Rank #2 (Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GRP IN DXYN 15.84 +7.90%
BOFI HLDG IN BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%