Microsoft and 2 Top Stocks Leading the Dow Jones Index Higher

The Dow Jones Industrial Average (NYSEARCA:DIA) is down today by 0.17% and stands at 12,428. The large stocks below are among the positive performers today.

Hewlett Packard Co. (NYSE:HPQ): Though still the world’s top PC vendor, HP’s share in the PC market has fallen 16%, partly due to the drama surrounding its PC business. Other PC vendors like Lenovo, Dell (NASDAQ:DELL), Apple (NASDAQ:AAPL) shares are rising to a large extent making them the top three PC vendors in the market. This is in an environment where PC sales just declined on a quarterly basis. Net App (NASDAQ:NTAP) joins HP in raising hard drive prices for its storage gear in response to industry shortages. HPQ shares recently traded at $26.83, up $0.19, or 0.71%. They have traded in a 52-week range of $21.50 to $49.39. Volume today was 5,207,430 shares versus a 3-month average volume of 18,283,600 shares. The company’s trailing P/E is 8.08, while trailing earnings are $3.32 per share.

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Microsoft Corporation (NASDAQ:MSFT) becomes the latest tech company to see its online video ambitions thwarted by the terms set by the content owners, who do not want to upset cable/satellite service providers. Reuters reports Microsoft is canceling plans to offer a subscription video service for Xbox users after finding the licensing costs are too high. Apple is also facing a similar problem. Microsoft has also signed an Android/Chrome OS patent licensing deal with LG, which was estimated by Gartner to have to have around 4.8% of the mobile phone market in Q3. MSFT shares recently traded at $27.91, up $0.19, or 0.69%. They have traded in a 52-week range of $23.65 to $29.46. Volume today was 32,227,389 shares versus a 3-month average volume of 52,809,000 shares. The company’s trailing P/E is 10.14, while trailing earnings are $2.75 per share.

3M Company (NYSE:MMM): Earlier this week, 3M Touch Systems Inc. announced the 3M Smart Pen launch to offer, “a uniquely designed input device finely-tuned for use with popular capacitive touchscreen devices, including the Apple iPhone, iPad and iPod touch.” Shares are getting a lift as the company gets it’s name spread around the Consumer Electronics Show. MMM shares recently traded at $84.31, up $0.54, or 0.64%. They have traded in a 52-week range of $68.63 to $98.19. Volume today was 1,993,254 shares versus a 3-month average volume of 4,321,550 shares. The company’s trailing P/E is 14.34, while trailing earnings are $5.88 per share.

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To contact the reporter on this story: Scott Gillette at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com