New Hewlett-Packard Shakeup Involves David Donatelli and 2 More Heavily Traded Stocks to Follow
Hewlett-Packard Co. (NYSE:HPQ): Current price $25.43
A knowledgeable sources says that David Donatelli, who is chief of Hewlett-Packard’s HPQ Enterprise Group, is being reassigned. This heralds a second management shakeup for the company in recent months. It is apparently not clear what Donatelli’s next step might be — he has overseen server, storage, and networking products, along with the firm’s world sales team. Donatelli succeeded Ann Livermore, who was H-P’s former chief of enterprise services, in 2011.
Bank of America Corp. (NYSE:BAC): Current price $14.34
There will likely be further pressure on companies to take more responsibility for the ambitious graduates who drive themselves to the limit to obtain positions at the big banks after the death of an intern who worked at the London offices of Bank of America, Merrill Lynch reported this week.
Lured to the palaces of finance in London, New York, and Singapore by the prospect of a full-time job and big compensation, future top players often endure 20-hour days in some of the most adrenaline-saturated offices on the planet. It is quite normal for these young hopefuls to face weekends at work and meals in the office, along with anecdotal reports of the “magic roundabout” in which interns get a taxi home after dawn and keep it waiting while they have a quick shower and then go straight back to work.
Apple Inc. (NASDAQ:AAPL): Current price $502.22
Analyst Steve Milunovich at UBS observed Wednesday that shares of Apple have upside potential in both the near- and long-term, saying that, “Apple’s like a fighter that’s been taking punch after punch over the spring and summer, and finally it’s going to start fighting back. I think psychologically this stock could go higher.”
Milunovich raised his Apple price target from $500 to $560 and maintained his Buy on the stock, mostly on the expected strength of the iPhone 5C, the less-expensive version of its extremely popular smartphone. On CNBC’s Fast Money, the analyst said that it was expected that Apple would ship 17 million iPhone units in fiscal 2014 with Asia’s telecom giant China Mobile comprising 10 percent of that total.