The Midday S&P 500: Hewlett-Packard Falls Massively After CEO's Pessimistic Predictions
By Anthony Shields Oct 03, 2012 3:15 pm
The S&P 500 is up again, but a few bad apples are making news.
MINYANVILLE ORIGINAL The S&P 500 (INDEXSP:.INX) is up .24% to 1,449.29 as of 2:30 p.m. EDT today. Contributing to this increase is Netflix (NASDAQ:NFLX), which is up 8.24% to $61.22 per share from high customer satisfaction and streaming content reports. Option players are showing optimism that the stock will rebound in the future. However, also making big news is MetroPCS (NYSE:PCS), which fell 9.14% to $12.32 per share. This drop is due to accusations from law firm Levi & Korsinsky that MetroPCS may have not taken the necessary steps to ensure that its shareholders get the best out of the upcoming merger with T-Mobile. Also getting slammed in the market today is Hewlett-Packard (NYSE:HPQ), which lost 11.03% and is down to $15.56 per share after CEO Meg Whitman’s unenthusiastic report that it will take until next year to turn the company around.
No positions in stocks mentioned.