Technology stocks lose gains as HP drops on forecast deemed ‘too optimistic’

“Technology stocks slipped into the red by midday Tuesday as strong early gains in the broad market were offset a sell-off on shares of Hewlett-Packard,” Dan Gallagher reports for MarketWatch.

“HP was down more than 6% by the afternoon. The previous day, the company issued its full earnings report for the third quarter after a positive preannouncement the week before. The company maintained a relatively strong outlook for 2009, leading some analysts to speculate whether H-P is being too optimistic in the face of a global economic meltdown,” Gallagher reports.

“Among other big tech players, Apple (AAPL: 89.68, -3.27, -3.5%) , Microsoft Corp. (MSFT: 19.83, -0.86, -4.2%) , Oracle Corp. (ORCL: 15.97, -0.67, -4.0%) and Cisco (CSCO: 15.50, -0.90, -5.5%) were all in the red,” Gallagher reports.

Full article here.

Too optimistic. Not optimistic enough. Exactly the right amount of optimism, the rarity of which is a definite cause for “concern,” according to… blah, blah, blah.

Any random horse can produce the same or better “analysis” as most Wall Street “analysts” simply by lifting its tail.

13 Comments

  1. Yesterdays Citibank bailout short squeeze rally.

    HP “fudging” the numbers, extreme cost cutting to make the numbers appear better to meet expectations.

    It’s not reflective of the REAL situation of the state of the economy.

    We are nowhere near getting out of this mess kiddies.

    We are in deep trouble.

    The fundamentals are not sound and HYPERINFLATION is a REAL possibility to get us out of this mess.

    Imagine US quarters being replaced by Dollar coins in your pocket. Imagine your meager savings losing 50% of their value.

    The new Fed will allow hyperinflation to run about a year, then institute mandatory price controls to stop it.

    Bingo, all debt and bailouts paid for and only the idiots wo don’t have their savings in TIPS or gold will suffer.

    I’ve warned you.

  2. “The fundamentals are not sound and HYPERINFLATION is a REAL possibility to get us out of this mess.”

    Some economists are talking DEFLATION. The way they describe it, that is a lot WORSE.

    On any given day…

  3. Safari 3.2 is sending data to Google about websites you visit

    the fact remains that after installing Safari 3.2, your computer is by default downloading lots of information from Google and sending information related to sites you visit back to Google—without telling you, without Apple disclosing the methods, and without any privacy statement from Apple.

    http://www.macworld.com/article/137094/2008/11/safari_safe_browsing.html

    For the smart masses, install Little Snitch, delete all rules and surf potentially toxic sites (toxic to PC’s that is).

    When you get a Little Snitch warnings, write down the google.com sites Safari’s integrated “google” is attempting to contact.

    For instance one site is safebrowsing.clients.google.com.

    Add ‘127.0.0.0 safebrowsing.clients.google.com’ (and any future sites) to the bottom of your etc/hosts file and reboot.

    This is a technical level hack, don’t mess with your system files if your not sure of your actions.

    Sure unchecking the Safari preferences/Fraudulent sites box should also do the trick, but it’s no guarrantee your privacy will be preserved.

  4. What’s this hype about DEFLATION?

    Any normal person would call prices of gas or other stuff dropping as a *normalization* of the market after too greedy price increases.

    But analysts will tell you that deflation is bad!

    If the prices rise it’s bad. If they come down to a normal level it is bad.

    This attitude of applying rules in the wrong situations is detrimental for the economy.

    It is time that the economy stops “thriving” on the empty chatter of the analysts, and that the financial system starts reflecting the real technical potential of the industry.

  5. Some economists are talking DEFLATION. The way they describe it, that is a lot WORSE.

    We are already in deflation, housing, gas etc. People are tightening their belts because all their money is going towards overpriced mortgages and fear of losing their jobs.

    Uncle Sam is printing and spending HUGE amounts of money to pay off various bailouts, this is highly inflationary because it lowers the value of the dollar/purchasing power.

    This can cause hyperinflation, where prices go up out of control, wages have to go up in response and the cycle continues.

    My prediction is the government will do this for a short time to pay off debt/bailouts, then institute price controls to stop it.

    It hurts people who don’t know it’s coming. I see the government having little choice but to do this to avoid a gradual march into runaway deflation. (prices continue to drop because people wait until the next day when prices are cheaper to buy anything)

    Deflation is more severe than inflation, because it’s harder to stop and control.

    Deflation is why Greenspan created the inflationary real estate bubble of 2003 to 2008. It was the lessor of the evils.

    Now we are headed back to deflation, so the Fed has to try something else. And printing lots of worthless money is a sure way to snap back to inflation.

    Of course the American public nearly lynched the Bush administration for the post real estate bubble recession, but actually it’s the world economics, U.S. lack of producing anything, overspending. Party affiliation doesn’t matter.

    Obama has hired the same economic folks in the Fed that are under Bush admin.

    “Change” my ass. Only a illusion, and be glad he did too, instead of hiring a bunch of idiots.

  6. Every quarter the Windows piece of the computer pie get smaller and smaller as Apple takes market share. So, they can only take slices from each other. Apple’s OS X Mac computer share their pie with no one else and it grows about 40% a year now!

    Apple should be 10% to 12% this quarter. That is 1 slice for Apple and next year, Apple wants 2 slices (25%) of the pie!

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