Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, May 24, 2013

Article Excerpt

Please note: The next Wall Street Stock Forecaster newsletter issue will be sent out on Friday, May 31, 2013. HEWLETT-PACKARD CO., $24.21, New York symbol HPQ, reported lower earnings this week. Even so, they still beat the consensus forecast. That’s why the stock rose 14%. Hewlett earned $1.7 billion in its fiscal 2013 second quarter, which ended April 30, 2013. That’s down 12.9% from $1.9 billion a year earlier. Earnings per share fell 11.2%, to $0.87 from $0.98, on fewer shares outstanding. These figures exclude several unusual items, mainly costs related to a restructuring plan that includes merging Hewlett’s personal computer and printer divisions, simplifying its product lines and cutting 8% of its workforce. On that basis, the latest earnings beat the consensus estimate of $0.81 a share. Revenue fell 10.1%, to $27.6 billion from $30.7 billion. That missed the consensus revenue forecast of $28.0 billion. Computer demand remains weak, but unlike some of its competitors, Hewlett has not cut its prices to…