Hewlett-Packard Recruits Ex-SEC Counsel Over Autonomy and 2 Other Dow Movers To Watch
Hewlett-Packard Co. (NYSE:HPQ): Current price $25.68
Hewlett-Packard hired a former Securities and Exchange Commission general counsel and questioned 25 people in an inside inquiry of alleged fraud at its Autonomy division, Bloomberg reports. The PC maker faces lawsuits brought by shareholders originating from its November 20 announcement that it was taking an $8.8 billion write down on the value of Autonomy, which acquired at $10.3 billion in 2011. Ralph Ferrara, a partner at Proskauer Rose LLP and ex-general counsel at the SEC, is leading in investigation by a three-member committee of independent directors looking into shareholder claims that Hewlett-Packard failed to heed warnings in regards to accounting irregularities and did not vet its finances before buying the software maker, according to filings made Tuesday in federal court in San Francisco and seen by Bloomberg.
Boeing Co. (NYSE:BA): Current price $105.10
Boeing reported Wednesday that it is improving its flight training support for customers of the 787 Dreamliner with an additional 787 full-flight simulator at the Boeing Flight Services campus in London. The new device, which will be ready for training in the first quarter of 2014, will complement two other 787 flight simulators currently employed for training airline pilots at the London Gatwick campus and will expand Boeing’s capabilities in support of the increasing requirements of customers in Europe, Africa, and the Middle East taking deliveries of the 787 Dreamliner., the company said.
Cisco Systems Inc. (NASDAQ:CSCO): Current price $25.59
Subsequent to running checks, Oppenheimer anticipates that Cisco will post results at the upper end of guidance for its second quarter. The firm believes that the firm’s guidance may exceed Street expectations, and it elevated its estimates on higher organic growth assumptions. Oppenheimer retains an Outperform on the shares.