Come in with $0.82 versus guidance of $0.71 Ups 2nd quarter guidance but leaves annual guidance at $3.40-3.60.This will be bumped up some after second half. Final earning will be in the $3.75-3.85 range. Its less than 5.0 PE.. With the turn-around in place it should command a 7.5-10.0 PE indicating a 50% to 100% upside.. Longs should relax and enjoy.
The market factored HP going out of business because of debt and falling revenue/profit. But the reality is that the company is not going away and the revenue/profits are stabilizing and likely to grow in a year.