Hewlett Packard (HPQ) NewsBite - HPQ Overtakes DELL in PC Shipments

Posted: Thursday, April 16, 2009 9:59 AM EDT

Hewlett Packard (NYSE: HPQ) opened at $35.50. So far today, the stock has hit a low of $35.46 and a high of $36.35. HPQ is now trading at $35.82, up $0.97 (2.78%). Over the last 52 weeks the stock has ranged from a low of $25.39 to a high of $49.97. HPQ shares are trading higher this morning after a research firm reported that the company overtook industry-leader Dell (DELL) in PC shipments last month. HPQ's market-share rose to 27.6 percent, while DELL's fell to 26.3 percent. Gartner Inc. cited HPQ's rising netbook sales for the strong performance in March. Technical indicators for the stock are bullish and S&P gives HPQ a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on HPQ the stock seems like it could be a candidate for an August out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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