Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, November 29, 2013

Article Excerpt

HEWLETT-PACKARD CO., $27.35, New York symbol HPQ, rose 9% this week after it reported better-than-expected earnings and revenue. The company continues to make progress on its multi-year restructuring plan, which includes merging its personal computer and printer divisions, simplifying its product lines and cutting 8% of its workforce. In Hewlett’s fiscal 2013 fourth quarter, which ended October 31, 2013, its earnings fell 14.1%, to $2.0 billion, or $1.01 a share, from $2.3 billion, or $1.16 a share, a year earlier. These figures exclude restructuring costs and other unusual items. On that basis, the latest earnings beat the consensus estimate of $1.00 a share. Revenue declined 2.8%, to $29.1 billion from $30.0 billion. Even so, that beat the consensus forecast of $27.9 billion. Personal computer and printer sales (which account for 49% of Hewlett’s total) fell 1.2%. Computer sales declined 1.7%, but that was better than the third quarter’s 10.8% drop. Sales of server computers to businesses (25% of revenue) improved 1.8%,…