Hewlett-Packard Hits a Ten-Year Low and Warns on 2013 (HPQ)
On Wednesday, the ADP National Employment Report showed that the US added more jobs than was expected in September. Service sector activity picked up as well with new orders, suggesting that the economy is heading in the right direction. After the US data reports, the dollar gained against both the euro and the Japanese yen. In the spotlight today was Hewlett-Packard (HPQ), whose CEO warned of future under-performance and requested patience from traders. The company's shares hit a nine-year low after the outlook announcements.All three major US indices gained from yesterday's session as investors await Spanish bailout developments and the first of three presidential debates broadcasting on Wednesday night.
Word on the Street
- US jobs report shows companies added more than was expected for the month of September.
- Hewlett-Packard (HPQ) sees drop in stock after warning of probable future shortcomings.
- Crude-oil futures see biggest one-day drop of 4.1% since December after release of Chinese data.
- Best Buy (BBY) gains after reports that a former chairman is progressing with a potential buyout.
- Seed company Monsanto (MON) forecasts that their earnings may rise 17% in 2013.
- Boeing (BA) and General Electric (GE) have agreed on their cement order for $6 billion worth of planes.
- Treasury yields are hovering close to the lowest level in about a month on Wednesday.
- Netflix Inc's (NFLX) shares rise after increased customer satisfaction.
- Citigroup's (C) global social media director on how "social media is the new golf course".
- How to work smarter, think bigger, and make more - what a productivity hot spot should look like.
Published on Oct 3, 2012By InvestorGuide Staff