Topic: Growth Stocks

The Wall Street Stock Forecaster Hotline – Friday, November 21, 2008

Article Excerpt

HEWLETT-PACKARD CO. $34.64, New York symbol HPQ, has reported preliminary earnings that exceed consensus forecasts. In its fourth fiscal quarter ended October 31, 2008, the company earned $1.03 a share before unusual items, up 19.8% from $0.86 a year earlier. The consensus estimate was for $1.00 a share. Sales grew 18.7%, to $33.6 billion from $28.3 billion. If you disregard Hewlett’s recent purchase of Electronic Data Systems Corp., sales improved 5%. Despite the downturn in consumer spending, Hewlett expects that cost cuts will let it earn $0.94 a share in the first quarter of fiscal 2009, up 9.3% from $0.86 a year earlier. As well, the company’s large international operations (two-thirds of its revenue) and diverse range of products and services should continue to help it expand sales. Hewlett-Packard is a buy. BANK OF AMERICA CORP. $11.47, New York symbol BAC, has exercised its option to increase its stake in China Construction Bank Corp. from 10.75% to 19.1%. The company did not reveal…