HP shares set for a pullback?
In the US, the market awaits a few important corporate reports, including from HP. The company is due to report on Tuesday after the close of the US market.
The PC and printer maker is expected to post earnings of 86 cents per share, down 17% on the same quarter last year. Revenue is also expected to fall by 8.5% to $13.38 billion. HP shares have been on a slow but steady rise since October last year, and hit a 52-week high in July, when a Gartner survey said that a gradual increase in demand contributed to an inventory reduction in the sector. IGTV’s Angela Barnes has more.
(Video Transcript)
HP earnings
The markets are awaiting a few corporate updates today that will be very important to investors, including from electronics retailer HP, which hasn't had the best time. Well, inventories is expected to be a concern for the company, which is due to report tonight after the close of the US market. Well, the PC and printer maker is expected to post earnings of $0.86 per share, down 17% on the same quarter last year. And revenue is also expected to fall by 8.5% to $13.38 billion.
HP price chart
Let's just have a quick look at the HP price chart. Well, shares have been on a slow but steady rise since October last year, as you can see there. And it hit a 52-week high in July on around July the 12th. You can see that on the chart. And then since then, it was actually when a Gartner survey said that a gradual increase in demand contributed to an inventory reduction in the sector. And since then, it has declined by about 9.5%.
Your session stock on the IG platform is up, though, about just marginally, 0.03% today. Hewlett Packard Enterprise and Best Buy are also reporting today.
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