Hewlett-Packard Moves Up On Citi & Morgan Stanley Reviews and 2 Other Dow Movers to Watch
Hewlett-Packard Co. (NYSE:HPQ): Current price $27.45
Hewlett-Packard are up about 2.5 percent Tuesday, buoyed by positive reviews from Citigroup and Morgan Stanley. Analyst Jim Suva at Citigroup added H-P to his U.S. Focus List, pointing to ”identifiable positive catalysts for the stock,” including expectations that the firm will surpass consensus earnings estimates when it reports its results next week. Meanwhile, analyst Katy Huberty at Morgan Stanley wrote in a note that H-P is set to benefit from ongoing cost reduction and improving demand in the American corporate tech market.
Proctor & Gamble Co. (NYSE:PG): Current price $81.66
The private equity firm Carlyle Group has chosen the former Procter & Gamble executive Susan Arnold as operating executive for its consumer and retail group. This group has assisted in Carlyle’s purchase of firms such as Dunkin’ Brands Group Inc., Philosophy, NBTY, and CVC. On Tuesday, Carlyle said that Arnold will provide strategic guidance to its professionals all through the investment process, from sourcing to purchase to exit — and that will also advise portfolio firm executives on management, operational, branding, and growth strategies.
Wal-Mart Stores Inc. (NYSE:WMT): Current price $76.64
Wal-Mart’s South African division Massmart Holdings, reported on Tuesday that its first-half earnings jumped by as much as 57 percent thanks to favorable exchange rates. In a statement, Massmart said that it expected headline earnings of between 218 and 234 cents per share for the 26 weeks up to June 23, versus 148.9 cents year-over-year. Headline earnings per share is the primary measure of profit in South Africa and excludes certain one-time items. Massmart also said that prior to adjustment for currencies, earnings would be up to 15 percent lower than 2012′s currency-adjusted 200.6 cents.
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