The silver lining for Hewlett-Packard (HPQ), with its Q2 earnings posted late Thursday, appears to be more about cost savings than growth. The computer products company posted a mixed bag of earnings numbers for the quarter ended April 30, but still HP stock was up Friday. Along with reporting EPS that was 2 cents better than expected, HP said that costs associated with its move to split into two companies will be $400 million to $450 million,
Marvell Technology (MRVL) got mixed reactions from analysts Friday after reporting mixed fiscal Q1 earnings and a weak outlook, but hopes ran higher over the fate of its mobile chip unit. Late Thursday, the chipmaker reported fiscal Q1 earnings per share excluding items of 13 cents, down 52% from the year-earlier quarter. Revenue fell 24% to $724 million. Analysts polled by Thomson Reuters had forecast EPS minus items of 10 cents a share and
Internet television service Netflix (NFLX) scored a Bill Murray Christmas special and two big stock price-target hikes. But investors went all “Scrooged” on Netflix stock Friday. Netflix stock was down a fraction in midday trading on the stock market today, near 621. Citigroup analyst Mark May on Thursday maintained his buy rating on Netflix stock and raised his price target to 722 from 584. He cited Netflix’s underappreciated expansion into international markets and its original content strategy as reasons for the bullish report. RBC Capital Markets analyst Mark Mahaney reiterated his outperform rating on Netflix stock Thursday and raised his price target to 700 from 600. He pointed to positive survey results in the U.S., France and Germany as well as a potential launch in China for his upgrade. Netflix’s new comic-book hero series “Marvel’s Daredevil” scored the highest star rating (4.6 out of 5) of any…