Hewlett-Packard Stumbles on Disappointing Fiscal 2014 Revenue Guidance and 2 Other Hot Stocks to Watch
Hewlett-Packard Co. (NYSE:HPQ): Current price $22.33
Shares of Hewlett-Packard are down more than 13 percent Thursday after the company posted in-line third quarter results, but released revenue guidance for fiscal 2014 that disappointed. Wednesday night, the firm reported third quarter earnings per share of 86 cents and revenue at $27.2 billion versus consensus of 86 cents and $27.29 billion, respectively.
Also, revenue from the majority of Hewlett-Packard’s major business divisions fell in Revenue from its Personal Systems until it dropped by 11 percent, while its Enterprise business experienced a sales drop of 9 percent. But what might be depressing shares the most is that the company added that its revenue was unlikely to rise in fiscal 2014, year-over-year.