I am puzzled about the drop. CNBC says HPQ hits earning target and raised earning outlook, but stock is down 8%. Normal time like this, stock would have gone up instead of drop. Can someone enlighten me why the drop? If they miss earning, the headline would have said miss earning instead of hit earning target. I kind of agree with Allen that they might open $26 in the am.
why don't you just educate yourself by reading the conference call transcript which is available as of now on seekingalpha or here at Yahoo Finance.
on the call Meg Whitman admitted to execution problems and huge market share losses in the enterprise business and no longer expects to grow revenues in 2014. Analysts on the call were puzzled to say the least.
would expect very negative analyst commentary and perhaps some downgrades tomorrow morning as the turnaround seems to have stalled for now. Given the meteoric rise in the stock price so far this year the stock is very vulnerable to bad news like these. Depending on analyst actions I would expect at least a 15% drop tomorrow as investors and analysts were caught by surprise.