Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Prudential Cuts Hewlett-Packard Estimates

Prudential cut its estimate on Hewlett-Packard (HPQ), and keeps the neutral rating.

Analyst Steven Fortuna says recent checks lead him to believe that for the second quarter, the current Street consensus earnings per share estimate of 34 cents is aggressive. He cut his estimate accordingly, to 33 cents. Fortuna says while demand is tracking about as expected, he hasn't seen a hint of upside two months into the second quarter, and says the large enterprise business is improving at a very gradual pace.

Also, Fortuna notes pricing continues to be aggressive across nearly all segments, and this seasonally soft quarter for PCs makes it unlikely that H-P will see higher unit volume. He cut the $1.46 fiscal 2004 (Oct.) earnings per share estimate to $1.40, and trimmed the $1.60 fiscal 2005 estimate to $1.58.

blog comments powered by Disqus