ETF Plays For HP Earnings (VGT, XLK, IYW)
Hewlett-Packard (NYSE: HPQ), the world's largest computer maker and a member of the Dow Jones Industrial Average, reported a 14% increase in profits in the latest quarter, earning $2.4 billion, or 99 Hewlett-Packard (NYSE: HPQ), the world's largest computer maker and a member of the Dow Jones Industrial Average, reported a 14% increase in profits in the latest quarter, earning $2.4 billion, or 99 cents per share, in the three months ended Oct. 31. That compares with $2.1 billion, or 84 cents per share, in the year-ago period.
HP also said it will add $8 billion to a $4 billion share repurchase plan.
If you're looking for ETF plays, try the Technology Select Sector SPDR ETF (NYSE: XLK). HP accounts for 4.55% of XLK. Or the iShares Dow Jones US Technology ETF (NYSE: IYW), where HP is 4.84% of total holdings.
Other options include the iShares S&P North American Technology ETF (NYSE: IGM) where HP accounts almost 5.5% of total holdings, and the Vanguard Information Technology ETF (NYSE: VGT). HP has a 5.23% weight in VGT.
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