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HP drops 20%

hank
edited August 2011 in Off-Topic
Yikes. Almost a 20% drop in 1 day. As you may know HPs been a top hold at Dodge and Cox for what seems like forever. Their web site lists it as the largest stock holding in 3 funds: DODGX, DODBX, DODWX. (Accounts for 4.3% of DODGX) Kinda wonder why they cling to this turkey which seems to veer from crisis to crisis. Remember Mark Hurd? But have never owned individual stocks. Funds providing plenty enough excitement lately.

http://www.newsobserver.com/2011/08/19/1424067/hp-shares-fall-20-percent-amid.html


Comments

  • ronorono
    I think Mike Dell said about their latest BOT decisions - if they spin off their PC business, will they rename themselves Compaq?

    They were hammered on the biz channels as in reality being run direction by the Board who hires the CEO to be a figurehead. I don't know if this is true, but it could certainly impact the price of a stock.

    peace,

    rono
  • wsanderswsanders
    DODGX is sure good at picking winners. IIRC Lehman Brothers was one of their largest holdings in 2007, IIRC.
  • [Deleted User]
    The user and all related content has been deleted.
  • InvestorInvestor
    I agree with Maurice.

    HP seems to have lost its way. I am not sure ditching the personal computer business out now is a successful strategy. It could be a mistake and so far Wall Street is thinking it is not going to save HP. They seem not to know what they are doing. They bought 3Com and Palm. Announced and even started selling tablets with Palms WebOS which is in fact a good technology but gave up too quickly before it was allowed to take root.

    HP wants to be in Enterprise software and services business. Unfortunately, they are not known for greatness in that area. They have a tough uphill road.

    This frequent flip flopping (Palm, Compaq) does not build confidence in management and I think both wall street and customers are voting their pocket books.

    In short, HP is suffering from lack of leadership.

  • hank
    Reply to @Maurice: I agree completely. Hurd was like a breath of fresh air over there and think he got a bad deal. Your right about technology. This fancy IPad I'm using will be a relic on the junk heap in 5 years - if not sooner.
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