Shares of HP Inc. Hit $20 Following Last Quarter’s Earnings Results
Shares of HP Inc. added 3 percent to hit $20 in late trading on Wednesday after the company reported higher-than-expected sales and earnings for the last quarter. That was the highest level HP’s stock prices have ever hit since the company split from Hewlett Packard Enterprise.
The California-based information technology company posted net income of $600 million, or 33 cents a share, on sales of $12.4 billion for its fiscal second quarter ending in April.
After adjusting for one-time items such as restructuring charges, HP said it earned 40 cents a share, topping market forecast calling for earnings of 39 cents a share on sales of $11.9 billion.
The company raised its guidance for full-year adjusted earnings to $1.59 to $1.66 a share, up from previous forecast of $1.55 to $1.65 a share.
Buy Stop at 20.00, Take profit 20.20, Stop loss at 19.90