Hewlett-Packard Bucks Market’s Plunge After Earnings Report
Will HP's 'Difficult' Quarters Ever End?
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Hewlett-Packard Co. squeezed out a gain amid Friday’s market plunge after issuing an earnings report that kept negative surprises to a minimum.
“For the first time in several quarters HP did not mention unexpected bad news,” Jim Suva, an analyst at Citigroup Inc., wrote in a note to investors advising they buy the stock. “Previous quarters HP reduced cash flows, stated higher separation costs, more unplanned restructuring & costs, etc. We now believe the bad news is over.”