The market had a good week, with all three major indexes up. The Dow Jones Industrial Average
Friday marked the one-year anniversary of Steve Jobs' death, and the week saw Apple's
Facebook CEO Mark Zuckerberg had this to say in a press release on Thursday: "There are more than 1billion people using Facebook actively each month." The news wasn't shocking, but it's a little nugget of operational goodness as the news has been slammed with stories of Facebook's struggling post-IPO share price and mobile monetization efforts.
On the lack-of-love side, famed short seller David Einhorn thinks Chipotle shares are overvalued versus the company's business prospects. Although he thinks Chipotle is a good company, he thinks factors including competition from Taco Bell's upscale Cantina Bell menu and rising input costs bode ill for the stock. I've been waiting for a good entry price on Chipotle shares for a while, and this is helping, as shares were down almost 12% this week.
The company is on track to deliver on its savings targets and complete the restructuring by the end of fiscal 2014. Whitman walked through a multiyear roadmap to turn the company around. By 2016, she expects the company's revenues to be growing in line with gross domestic product (GDP), with operating profit growing faster than revenues, industry-leading margins, and disciplined capital allocation.
The market was clearly not impressed with the timeline or current turnaround signs at Hewlett-Packard.
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