Good news seemed to be everywhere, with Greek optimism over an accord to reduce the amount outstanding on its sovereign debt combining with a strong U.S. jobs report to generate optimism. Closing the week, the Dow Jones Industrials (INDEX: ^DJI ) rose modestly, finishing up 14 points, to 12,922. The S&P 500 (INDEX: ^GSPC ) climbed 5 points to finish at 1,371.
Still, not every stock joined the party. Here are three that posted some substantial losses on the day.
Hewlett-Packard (NYSE: HPQ ) , down 1.9%
HP has a daunting task ahead of it: not just to define what it wants its new role in the technology industry to be, but also to make it actually happen. Today, a report from the New York Times revealed one part of HP's strategic plan -- building up its cloud-computing services.
With Amazon.com already delivering cloud services, HP certainly doesn't have free rein to take over the industry. But with an emphasis on higher-value premium tools and applications over simply commoditized offerings, HP hopes to make the business less about competing on cost -- where it would likely lose to Amazon -- and more about providing a full-service experience.
If that works, then it could be one key to HP's recovery. But based on investor reaction, HP faces a lot of skepticism.
Boeing (NYSE: BA ) , down 1.1%
Boeing has a lot going on today. On one hand, the aerospace giant is competing well against Europe's Airbus, with a huge edge in orders so far this year. Moreover, airline United Continental said that it managed to finance its order for Boeing 787 Dreamliners through the bond market, marking the first time an airline has sold bonds to fund a Dreamliner purchase.
But, according to Reuters, the World Trade Organization said that Boeing has benefited from billions of dollars in unfair subsidies. The ruling would rekindle a long dispute between Boeing and Airbus, both of which have had to defend against allegations of subsidies. The U.S. has pushed for sanctions of $7 billion to $10 billion against the European Union for its alleged aid to Airbus. If the WTO's formal report due later this month confirms the Reuters report, then Boeing could face a long, drawn-out process that could distract from its core mission of getting its big backlog of orders filled.
ExxonMobil (NYSE: XOM ) , down 0.6%
The tug of war between Big Oil and the government continues. Today, Exxon CEO Rex Tillerson said that although it needs government to help it develop many sources of energy, the best way the government can help companies innovate is by supporting research rather than using taxes and subsidies to cherry-pick certain portions of the industry.
Despite today's small drop, if energy demand continues rising -- and, with signs of economic strength, that seems likely -- then Exxon should be poised to do well for the foreseeable future. Even with a possible short-term production slowdown, the long-term prospects for Exxon seem better than ever.
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