Hewlett Touches $20 as the Dow Pauses

The stock market has followed a fairly consistent path lately, rising to new five-year highs and then taking a breather before making its next advance. This morning, a minor revision to GDP figures that boosted a previous reading of negative growth to a 0.1% gain, combined with falling jobless claims, continued a string of positive economic news. With uncertainty from Europe and the sequestration debate weighing on markets, though, it's reasonable to see the Dow Jones Industrials (DJINDICES: ^DJI  ) merely holding its own after yesterday's 175-point advance. As 10:50 a.m. EST, the Dow is down 19 points, while broader markets are near breakeven as well.

Among Dow stocks, Hewlett-Packard (NYSE: HPQ  ) briefly touched the $20 mark for the first time since last summer before pulling back slightly to post a 0.8% gain. The move appeared to be follow-through from yesterday's nearly 4% advance after the company confirmed that it would release future tablets using the Android operating system. HP is doing its best to broaden its product offerings and decrease its reliance on PC-era technology, which has seen declining favor among consumers.

Continental Resources (NYSE: CLR  ) jumped 4.6% after announcing favorable earnings for its fourth quarter. As a leading energy company in the red-hot Bakken shale play, Continental reversed a year-ago loss in the quarter and boosted overall 2012 full-year income by 72% over 2011. With record production expected to increase further in 2013, Continental is making all the right moves.

Finally, organic-LED maker Universal Display (NASDAQ: OLED  ) rose 11% following its earnings release last night. Results were mixed, with the company missing earnings estimates but topping the revenue consensus. Although Universal Display's guidance for 2013 revenue was slightly disappointing, investors seem to be focusing more on the potential for new-product development using OLED technology, which could eventually lead to a big surge in growth for the small company.

Much has been made of HP's value opportunity, but can the company really make good on its recent rebound? Find out whether Hewlett-Packard is the least appreciated turnaround story in the market by reading our premium research report on the stock today. Inside, The Motley Fool's technology analyst details exactly what investors need to know about HP. Just click here now to get your copy today.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2284948, ~/Articles/ArticleHandler.aspx, 11/28/2014 2:43:18 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement