All is Not Lost - HP and Home Depot Beats Expectations
mazevedo | November 18, 2008 at 09:17 amby
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Hewlett-Packard boosted the tech sector on Tuesday. The computer maker said preliminary fourth-quarter earnings were higher than analysts expected. First-quarter guidance for 2009 was also above estimates. The strong report was a silver lining for a company that has suffered a tough year. HP is in the process of completing 24,000 layoffs.
It appears as though HP is headed for a remarkable come back, shares of the company have been up as much as 14% today. Another company in the misdt of the crisis which has beaten spectations is Home Depot, however the company did not present future guidance along with its latest profit report.
From my prespective this might be very good economic news. As all these companies have been going through massive layoffs and re-structuring, profits above expectations is always good news, and it boosts investors confidence into the market!
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First Flagged at 2:35 PM, Nov 18, 2008 by Anonymous (not verified)