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HEXUS.sharewatch: HP stock hit by Hurd resignation

by Scott Bicheno on 9 August 2010, 13:23

Tags: NVIDIA (NASDAQ:NVDA), Nokia (NYSE:NOK), Hewlett Packard (NYSE:HPQ), ARM

Quick Link: HEXUS.net/qazh2

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The real shame about the decision of former HP CEO Mark Hurd to resign, after misstating expenses in an apparent attempt to disguise his relationship with an HP contractor, is that he was doing a pretty good job.

After the turmoil of the Fiorina era, Hurd steadied the HP ship and also presided over some well-received acquisitions. He also steered HP through the credit-crunch era with some extensive cost-cutting and general austerity. So it comes as no surprise to see investors react negatively to news of his departure.

While all the HP share-price activity occurred late last Friday, the timescale for this HEXUS.sharewatch is three weeks instead of the usual one, due to a holiday taken by your otherwise tireless editor.

This broader snapshot is generally positive. Having dropped below psychologically significant levels a month ago, the Dow and the FTSE have consolidated their recoveries in the past three weeks. Several tech companies have experienced healthy gains, with ARM jumping on the back of good earnings and Nokia up in spite of not so good ones.

The only other major faller was NVIDIA, which lowered its forecast for the next quarter citing poor demand. It also appears to be weakly positioned as AMD gets ready to join Intel in the integrated CPU/GPU game. Having said that Intel fell a bit, possibly in response to new restrictions imposed following its settlement with the FTC.

Company Listing Share price 5/7/10 Share price 12/7/10 Share price 19/7/10 Share price 9/8/10 21-day change Market cap (bn)
AMD AMD 7.17 7.34 7.37 7.45 1.1% 5.02
Apple AAPL 247.00 259.62 249.90 260.08 4.1% 237.60
ARM ARMH 12.38 13.60 13.79 15.27 10.7% 6.70
Avnet AVT 23.98 25.13 24.75 26.24 6.0% 3.98
Cisco CSCO 21.13 22.70 22.75 24.08 5.8% 137.52
Dell DELL 12.03 12.85 13.06 13.12 0.5% 25.69
Google GOOG 436.55 467.49 459.61 500.22 8.8% 159.31
HP HPQ 42.81 45.25 46.20 41.85 -9.4% 97.70
IBM IBM 121.86 127.96 128.03 130.14 1.6% 166.88
Ingram Micro IM 15.12 15.60 15.80 16.67 5.5% 2.76
Intel INTC 19.20 20.26 21.02 20.65 -1.8% 114.90
Microsoft MSFT 23.27 24.27 24.89 25.55 2.7% 221.47
Nokia NOK 8.43 8.48 8.74 9.52 8.9% 35.65
Nvidia NVDA 10.26 10.35 10.05 9.55 -5.0% 5.46
Oracle ORCL 21.83 23.36 23.27 24.38 4.8% 122.54
Qualcomm QCOM 32.37 33.91 35.96 38.65 7.5% 62.04
Tech Data TECD 35.95 38.11 37.92 40.31 6.3% 2.04
Dow .DJI 9686.48 10198.03 10097.90 10653.56 5.5% N/A
FTSE 100 .FTSE 4838.09 5132.94 5158.85 5332.39 3.4% N/A
NASDAQ .IXIC 2091.79 2196.45 2179.05 2288.47 5.0% N/A


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