Hewlett-Packard Stumbles on Disappointing Fiscal 2014 Revenue Guidance and 2 Other Hot Stocks to Watch
Hewlett-Packard Co. (NYSE:HPQ): Current price $22.33
Shares of Hewlett-Packard are down more than 13 percent Thursday after the company posted in-line third quarter results, but released revenue guidance for fiscal 2014 that disappointed. Wednesday night, the firm reported third quarter earnings per share of 86 cents and revenue at $27.2 billion versus consensus of 86 cents and $27.29 billion, respectively.
Also, revenue from the majority of Hewlett-Packard’s major business divisions fell in Revenue from its Personal Systems until it dropped by 11 percent, while its Enterprise business experienced a sales drop of 9 percent. But what might be depressing shares the most is that the company added that its revenue was unlikely to rise in fiscal 2014, year-over-year.
Vale SA (NYSE:VALE): Current price $14.89
Vale’s Chief Executive Murilo Ferreira said on Wednesday that the world’s number-two miner is not in discussions to acquire its competitor MMX SA, which is the mining unit of the tycoon Eike Batista’s troubled EBX conglomerate. Ferreira added that the local railroad operator MRS Logistica, in which Vale has an interest, looked at possible participation in MMX’s Porto do Sudeste port project, but said that neither MRS nor Vale intend to bid for the entire company.
Mondelez International, Inc. (NASDAQ:MDLZ): Current price $31.05
Mondelez has announced that it will present at the Barclays Capital Back-to-School Consumer Conference on Tuesday, September 3rd at 9 a.m. Eastern Time. Presenting on behalf of the company will be Chairman and Chief Executive Irene Rosenfeld, Executive Vice President and Chief Financial Officer David Brearton, and Executive Vice President, Integrated Supply Chain, Daniel Myers