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Hoping to get a better read on the technology space, investors are eagerly awaiting Hewlett-Packard'squarterly earnings results, which will be released after the closing bell Monday.
Twelve days ago, Cisco CEO John Chambers warned of slower revenue growth because key consumers continue to reduce spending. Cisco's dim outlook initially dragged on technology stocks and sent the broader markets lower. Since then, executives from both Microsoft and VMware have suggested that the growth problems reported by Cisco aren't widespread , but limited to the networking-equipment giant alone.
H-P's outlook will provide greater clarity, but the company has had it's fill of problems lately. The stock is down almost 20 percent this year following the departure of Mark Hurd and a bidding war for 3PAR . It seems its new CEO, Leo Apotheker, has become a lightning rod for controversy since assuming the role Nov. 3.
Steve Grasso of Stuart Frankel is bullish on Hewlett-Packard on fundamentals, but joked there's one thing that could send the stock lower.
"We just can't show a picture of Leo any longer on the television when we talk about the performance of Hewlett-Packard because that's the only thing that makes it go down lower," Grasso quipped.
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