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Squawk on the Street
Fmr. SEC Chmn. on Hack and Bitcoin ETFs, HPE CEO on $14B Juniper Deal, Boeing CEO and the "Mistake" 01/10/24
Jan 10, 2024
Former SEC Chairman Jay Clayton discusses the hack of the SEC's social media account and the much-anticipated bitcoin ETF decision. Hewlett Packard Enterprise CEO Antonio Neri talks about the company's $14 billion deal to acquire Juniper Networks and its AI strategy. Boeing CEO Dave Calhoun acknowledges 'our mistake' in regards to the Alaska Airlines blowout incident. Other topics include Nvidia's valuation, Jeffrey Gundlach's recession call, Tesla's rough start to 2024, big bank downgrades, and Mark Zuckerberg's cattle ranch venture.
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Quick takeaways
- HPE's acquisition of Juniper Networks will double its networking business size and position the company to capitalize on market trends in AI and digital transformation.
- Investors have expressed mixed reactions to the HPE-Juniper Networks deal, but HPE assures that the value of the transaction outweighs the cost of debt and offers long-term growth potential for shareholders.
Deep dives
HPE to Acquire Juniper Networks for $14 Billion
Hewlett Packard Enterprise (HPE) has announced its agreement to acquire Juniper Networks for approximately $14 billion. The deal aims to supercharge HPE's growth in the networking sector and capitalize on market inflection points, particularly with the rise of artificial intelligence (AI). HPE sees the acquisition as a strategic move that will expand its networking business beyond the campus and branch. The transaction is expected to be immediately accretive to HPE's earnings per share and free cash flow post year one close.
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