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"Although a number of businesses remain under pressure . the likelihood of the bottom falling...

Feb. 22, 2013 9:55 AM ETHP Inc. (HPQ) StockHPQBy: Eric Jhonsa, SA News Editor1 Comment
"Although a number of businesses remain under pressure ... the likelihood of the bottom falling out appears diminished," says UBS' Steve Milunovich, upgrading H-P (HPQ +7.8%) to Neutral following its FQ1 beat. Interestingly, Milunovich has long called for a breakup of H-P (something Meg Whitman shot down), and it was just 2 days ago he suggested H-P might be to blame for a Foxconn hiring freeze. Deutsche is maintaining a Sell, arguing top-line performance remains weak and FQ1 cash flow was inflated by a tax benefit and smaller bonuses. (more) (transcript)

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