Booting Up For Earnings
The last of the big tech earning will arrive on Tuesday, when Hewlett-Packardreports results.
Currently the options market is pricing in a 6.5% move on the big day, which would be slightly more than the 6% move that the stock recorded over the last four quarters.
Couple things have been working against the name this year: Company boss Mark Hurd recently cited the challenging environment for tech, and its bread and butter desktop business recorded a 25% hit to the top line last quarter.
Still, there are some things working for HPQ , including reduced expectations that were shaped by last quarter's sluggish guidance.
Also, on a valuation basis, the stock is cheap, trading around nine-times next years earnings, a discount to its peers.
Could opportunity be knockin'? We'll break it all down tonight, including how options traders are setting up for the big day.
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