Tech market indeed soft, but HP woes one of a kind
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HP and Cisco spooked investors with recent comments about sales, but analysts say the overall tech market is still inching along.
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Investors, already concerned about technology spending after Cisco Systemsâ dreary outlook, winced at gloomy sales reports from the nationâs major retailers.
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By JORDAN ROBERTSON  SAN JOSE, Calif. - Investors have largely shrugged off Hewlett-Packard Co.'s boardroom spying scandal, dismissing the brouhaha surrounding the company as immaterial to its day-to-day operations and stellar earnings growth in recent months.
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The tech giant's stock languishes, even as the company delivers solid growth.
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Despite financial market volatility, U.S. technology companies had a strong 2007. The rising cost of energy, fears of recession, and forecasts of a slowdown in IT spending, however, point to a rocky 2008.Despite losses at the beginning of the week, the Nasdaq Composite Index, heavily weighted with technology stocks, closed Monday with a 9.8 percent gain for the year -- its biggest increase since 2003. The jump came despite fears that falling housing prices would drag down the economy and that tech companies would not be immune to cautious business and consumer spending.The housing panic caused a slump in the Nasdaq in the third quarter. But IT investors looked to the bottom line: Tech earnings stayed strong throughout the year, buoying trader confidence. In a range of technology sectors, IT bellwethers such as IBM, Google, Apple, and Oracle announced record quarters.But tumult in markets this week could be a harbinger of things to come. Tech shares on the Nasdaq slipped before and after the Jan. 1 holiday. Traders are nervous because the dust has not settled from the housing crisis, which affects consumer spending as well as the financial sector. Rising energy costs also affect both consumers and businesses, and this week the price of oil hit the $100-per-barrel mark, sparking inflation concerns.A U.S. Labor Department report on Friday said that nonfarm industry jobs rose 18,000 last month, the smallest increase in more than four years, while the unemployment rate rose to 5 percent. The Nasdaq responded, dipping by about 2.6 percent by early afternoon. Even industry stalwarts slumped, with Google trading at $668, down 16 percent from its opening, and IBM shares going for $101.76, down by 2.9 percent.Most IT analysts are predicting slower growth for technology. U.S. IT investment, for example, will increase by 4.8 percent in 2008, compared to 5.3 percent in 2007, according to Forrester Research.Coming off a strong earnings year in which hardware sales fared better than expected and consumers continued to flock to the Internet, there are bright spots, however. For example, comScore reported this week that during the Nov. 1 to Dec. 27 holiday season,&#160;U.S. consumers spent about $28 billion online, a 19 percent increase compared with the year-earlier period.Citigroup Global Markets this week said that Amazon, with good margins and attractive digital media offerings, is in a good position. It upgraded its advice on the company from &quot;hold&quot; to &quot;buy&quot; Wednesday, and shares jumped by $3.61 to close at $96.25.Similarly, on the same day, Yahoo shares rose $0.46 to close at $23.72 after ThinkEquity upgraded it to &quot;buy&quot; from &quot;accumulate.&quot;Nevertheless, fears of a downturn are casting shadows over even generally strong sectors such as Internet retail.&quot;The recession risk is one reason why we believe the outlook for U.S. Internet stocks is not as strong going into &#39;08 as it was going into &#39;07,&quot; said Citigroup in a research note.Semiconductor stocks, including Intel and AMD, also declined midweek, after Bank of America issued a report saying that large inventories combined with probable slower growth paints an unfavorable picture for the sector.With the macroeconomic scene in flux, tech investors will anxiously await the first earnings reports of the year, due later this month.
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AUGUST 17, 2004  - This can&#39;t be an easy time for Ann Livermore. When Hewlett-Packard Co. missed Wall Street&#39;s earnings expectations late last week, the blame was placed squarely on the shoulders of the Enterprise Servers and Storage Group, ...
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CHICAGO -- This cannot be an easy time for Ann Livermore. When Hewlett-Packard Co. (HP) missed Wall Street&#39;s earnings expectations late last week, the blame was placed squarely on the shoulders of ...
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When Hewlett-Packard Co. HPQ.N  warned of a profit shortfall last week, it blamed problems it  had combining two SAP systems, something that the computer  maker believed would be relatively simple when they were  putting together a deal to buy Compaq two years ago.
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The rapidly growing software company gets the price it wants from HP.
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But that optimism isn&#39;t matched by Infineon, which said that while the market worldwide remains buoyant, the US is a special case and cautioned that growth might not be as strong as it expected.
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By MICHAEL LIEDTKE Associated Press  SAN FRANCISCO -- Hewlett-Packard Co.'s stock price dropped by 5 percent Thursday as investors reacted to reports that Chief Executive Officer Mark Hurd knew more about the computer and printer maker's elaborate spying program than previously thought.
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It reads like a VIP list of failures -- Hewlett-Packard, Toshiba, Intel, and Philips. Each of these technology powerhouses tried to conquer a promising technology for
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Investor's Business Daily - Offices still lag homes when it comes to wireless networking, or Wi-Fi. But they're catching up.
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CANNES -- One of the things about Hewlett-Packard Co. (HP) that distresses its chief executive officer, Carly Fiorina, is its reputation as a hardware company.
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'Shorty' kicks blades out of the data center and onto the floor The mid-market push has definitely been heating up for tech vendors in recent weeks. We've already seen Dell, IBM and Hitachi touting their simplified server and storage lines with SMB-aimed gear, and frankly, we're starting to recite the hard sell for companies with limited budgets and expertise in our sleep.â¦
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By Michelle Kessler  SAN FRANCISCO -- Hewlett-Packard's snooping scandal has besmirched the company's reputation -- but many other things are going great for the computer giant, tech analysts say.
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For investors who watched the technology bubble burst, the problems in the mortgage securities market have a familiar ring.