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HP Sees Price Bump, But It Might Not Last

Hewlett-Packard ’s stock price rose Friday with the announcement of a new board member, but the lift might not survive its earnings report.

The world’s largest computer, who named Relational Investors founder and principal Ralph Whitworth to its board, reports its fourth-quarter results Monday after the bell. It was trading in the $28 range midday.

“Fast Money” host Simon Hobbs said guidance was down.

“The whisper figures are actually quite low,” he said. “It’s a question of whether they will be as low, as Meg Whitman will basically come through on those figures.”

Whitman was named HP CEO in September, replacing Leo Apotheker.

“I actually hope they’re lower,” trader Stephen Weiss said. “I think they biggest mistake she made was in the interview with CNBC … saying, ‘Now I’m going out to try to make the quarter.’ Why say that? You have the honeymoon as a new CEO to trash the quarter, so I hope she trashes it.”

Weiss, who owns HP, said he didn’t like “that expectations have now increased with the buys today.”

Taking the helm of HP in September with six weeks left in the quarter, Whitman said, "First priority is to make the fourth quarter revenue and targets. We're facing economic head winds. We've got to make this quarter."

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Trader disclosure: On Nov. 18, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Weiss owns KO; Weiss owns HPQ; Weiss owns RIMM; Weiss owns EUO; Weiss owns WLP; Karabell owns AAPL; Karabell owns MS; Karabell owns IBM; Grasso owns AKS; Grasso owns AMR; Grasso owns ASTM; Grasso owns AVAV; Grasso owns BA; Grasso owns BAC; Grasso owns D; Grasso owns KEG; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XLU

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