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Nov 27- Hewlett-Packard Co shares soared near their 52- week high on Wednesday after investors saw signs a turnaround plan was gaining traction, but Wall Street worried the improvement was coming at the expense of margins.
*HP, Apple lead tech sector's gains. NEW YORK, Nov 27- The Nasdaq advanced on Wednesday to its highest level since September 2000 as Hewlett-Packard lifted the tech sector a day after the company's earnings. Overall trading volume was light, with many traders out for the Thanksgiving holiday.
"We look for stressed sectors toward year end," Larry McDonald says.
Wednesday's midday movers
*Tech sector advances with rally in HP, Apple. NEW YORK, Nov 27- U.S. stocks rose on Wednesday following a batch of optimistic economic reports, while Hewlett-Packard shares rallied a day after the company's quarterly results.
NEW YORK, Nov 27- U.S. stocks edged higher on Wednesday as a round of positive data boosted optimism about the pace of global growth and Hewlett-Packard rallied after announcing its results.
Editor: Maureen Bavdek +1 646-223-6200 Global Picture Desk:+ 65 6870 3775 Global Graphics Desk:+ 65 6870 3595. WASHINGTON- The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, offering signs of a steady improvement in the labor market.
The global tech company will focus on the commercial PC and tablet market in 2014, CEO Meg Whitman tells CNBC.
Nov 27- Signs that Hewlett-Packard Co's turnaround plan is finally yielding results put the company's stock on track for its biggest one-day jump in a year on Wednesday. Expectations were low for HP's fourth quarter following a disappointing third quarter and after rivals IBM and Cisco Systems Inc reported poor results.
NEW YORK, Nov 27- U.S. stocks were little changed after the market opened on Wednesday as investors found few reasons to buy before the Thanksgiving holiday, with major indexes near historic highs. The Nasdaq Composite Index was up 9.16 points, or 0.23 percent, at 4,026.91. Shares of Hewlett-Packard Co jumped 8 percent to $27.15 after brokerage upgrades.
Hewlett-Packard CEO Meg Whitman says the PC trade has an excellent return on invested capital.
In an exclusive CNBC interview, Meg Whitman discusses Hewlett-Packard's plans for innovation and global strategy.
*Trading expected to be light ahead of Thanksgiving. NEW YORK, Nov 27- U.S. stock index futures pointed to a flat open on Wednesday as investors found few reasons to buy before the Thanksgiving holiday, with major indexes near historic highs, though Hewlett-Packard rallied after its results.
CNBC's Jon Fortt discusses HP's recent earnings surge and what opportunistic moves the company made.
Nov 27- Signs that Hewlett-Packard Co's turnaround plan is finally yielding results prompted at least one brokerage to raise its rating on HP shares and eight others to raise price targets, setting up the stock for a bounce on Wednesday.
*Trading expected to be light ahead of Thanksgiving. NEW YORK, Nov 27- U.S. stock index futures were little changed on Wednesday as investors found few reasons to buy before the Thanksgiving holiday and major indexes stood near historic highs.
Some of the names on the move ahead of the open.
*Trading expected to be light ahead of Thanksgiving. NEW YORK, Nov 27- U.S. stock index futures were little changed on Wednesday, as investors found few reasons to buy ahead of a market holiday with major indexes near all-time or multi-year highs, though Hewlett-Packard rose after its results.
Hewlett-Packard is reporting Q4 revenue of $29.13 billion. David Garrity, GVA Research, dissects the data.
Chinese shares outperformed on Wednesday while the rest of Asian shares fell on profit-taking and rising political tensions in the region.