Hewlett Packard (HPQ) 2013

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Hewlett Packard (HPQ) 2013

Post by Admin on Sun Sep 15, 2013 1:56 am

2013 2013 2013 By William Trent, CFA of Stock Market Beat<br /><br />Hewlett Packard (HPQ) shares were off slightly after <a href="http://biz.yahoo.com/bw/061116/20061116005956.html?.v=1">reporting that earnings beat consensus estimates</a> - if you are willing to view their <a href="http://stockmarketbeat.com/blog1/2006/06/21/slow-news-day/">recurrent restructuring charges</a> as non-recurring. While they have had their share of troubles this quarter, you have to hand it to them for reporting at all, the way things are going in tech-land (with everyone either <a href="http://us.rd.yahoo.com/finance/external/cbsm/SIG=11g622ocl/*http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&amp;dist=yhoo&guid=%7BF29DF22E%2D742E%2D4B07%2D9003%2D3A02138132D3%7D">delaying their report</a> or <a href="http://biz.yahoo.com/bizj/061116/1378420.html?.v=1">giving partial data</a> while being investigated by the SEC.)<br /><br />Revenues grew 7% year/year. That is not an exciting number, but at least it is better than <a href="http://stockmarketbeat.com/blog1/2006/10/18/ibm-easily-clears-low-hurdle/">some</a> <a href="http://stockmarketbeat.com/blog1/2006/10/19/tech-beat-earnings-season-lessons-to-date/">others</a> <a href="http://stockmarketbeat.com/blog1/2006/10/18/wheres-that-pickup-in-business-spending/">we</a> <a href="http://stockmarketbeat.com/blog1/2006/10/24/lexmark-a-continuing-member-of-slow-growth-club/">have</a> <a href="http://stockmarketbeat.com/blog1/2006/10/23/xerox-gives-takes-a-penny/">seen</a>.<br /><br />Inventories grew faster than sales, which management explained on the <a href="http://seekingalpha.com/article/20792">conference call</a> thusly:<br />Next, the balance sheet. HP’s inventory came in at $7.8 billion, up $873 million year over year and up $286 million sequentially. Inventory days of supply stands at 38 days, up from 35 days last year and down from 41 days sequentially. The year-over-year increase in inventory reflects volume growth, strategic buys and supply chain changes designed to optimize our cost structure. The sequential increase is in line with normal seasonality.<br /><br />We’re still a little skeptical, but the explanation is within the bounds of reason. Again, while not a major concern it was nothing to brag about.<br />Overall, we agree with the after-market response to the report. This was a decent but unspectacular quarter for Hewlett Packard.<br /><br />The author may hold a position in the securities discussed.<br /><br />The author's current holdings are as follows: Long: Intuit (INTU) put options; Nasdaq 100 (QQQQ) put options; Bookham (BKHM; Ballard Power (BLDP); Syntax Brillian (BRLC); CMGI (CMGI); Genentech (DNA); Ion Media Networks (ION); Lion's Gate (LGF); Three Five Systems (TFS); Adobe Systems (ADBE) call options; Ceradyne (CRDN); IShares Japan (EWJ); StreetTracks Gold (GLD); Starbucks (SBUX); U.S. Oil Fund (USO); Plantronics (PLT) call options; Short: Lion's Gate (LGF) call options; Dell (DELL) put options; Ceradyne (CRDN) call options; Plantronics (PLT) put options.<br /><br /><a href="http://stockmarketbeat.com/blog1/">http://stockmarketbeat.com/blog1/</a><br> 2013 2013 2013 <br>By William Trent, CFA of Stock Market Beat<br /><br />Hewlett Packard (HPQ) shares were off slightly after <a href="http://biz.yahoo.com/bw/061116/20061116005956.html?.v=1">reporting that earnings beat consensus estimates</a> - if you are willing to view their <a href="http://stockmarketbeat.com/blog1/2006/06/21/slow-news-day/">recurrent restructuring charges</a> as non-recurring. While they have had their share of troubles this quarter, you have to hand it to them for reporting at all, the way things are going in tech-land (with everyone either <a href="http://us.rd.yahoo.com/finance/external/cbsm/SIG=11g622ocl/*http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&amp;dist=yhoo&guid=%7BF29DF22E%2D742E%2D4B07%2D9003%2D3A02138132D3%7D">delaying their report</a> or <a href="http://biz.yahoo.com/bizj/061116/1378420.html?.v=1">giving partial data</a> while being investigated by the SEC.)<br /><br />Revenues grew 7% year/year. That is not an exciting number, but at least it is better than <a href="http://stockmarketbeat.com/blog1/2006/10/18/ibm-easily-clears-low-hurdle/">some</a> <a href="http://stockmarketbeat.com/blog1/2006/10/19/tech-beat-earnings-season-lessons-to-date/">others</a> <a href="http://stockmarketbeat.com/blog1/2006/10/18/wheres-that-pickup-in-business-spending/">we</a> <a href="http://stockmarketbeat.com/blog1/2006/10/24/lexmark-a-continuing-member-of-slow-growth-club/">have</a> <a href="http://stockmarketbeat.com/blog1/2006/10/23/xerox-gives-takes-a-penny/">seen</a>.<br /><br />Inventories grew faster than sales, which management explained on the <a href="http://seekingalpha.com/article/20792">conference call</a> thusly:<br />Next, the balance sheet. HP’s inventory came in at $7.8 billion, up $873 million year over year and up $286 million sequentially. Inventory days of supply stands at 38 days, up from 35 days last year and down from 41 days sequentially. The year-over-year increase in inventory reflects volume growth, strategic buys and supply chain changes designed to optimize our cost structure. The sequential increase is in line with normal seasonality.<br /><br />We’re still a little skeptical, but the explanation is within the bounds of reason. Again, while not a major concern it was nothing to brag about.<br />Overall, we agree with the after-market response to the report. This was a decent but unspectacular quarter for Hewlett Packard.<br /><br />The author may hold a position in the securities discussed.<br /><br />The author's current holdings are as follows: Long: Intuit (INTU) put options; Nasdaq 100 (QQQQ) put options; Bookham (BKHM; Ballard Power (BLDP); Syntax Brillian (BRLC); CMGI (CMGI); Genentech (DNA); Ion Media Networks (ION); Lion's Gate (LGF); Three Five Systems (TFS); Adobe Systems (ADBE) call options; Ceradyne (CRDN); IShares Japan (EWJ); StreetTracks Gold (GLD); Starbucks (SBUX); U.S. Oil Fund (USO); Plantronics (PLT) call options; Short: Lion's Gate (LGF) call options; Dell (DELL) put options; Ceradyne (CRDN) call options; Plantronics (PLT) put options.<br /><br /><a href="http://stockmarketbeat.com/blog1/">http://stockmarketbeat.com/blog1/</a><br>2013 2013 2013 <br> <a href="http://www.matrixar.com/" title="Matrix ">المصفوفة : أجمل الخلفيات والصور</a>

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