Afternoon Market Update (DELL, HPQ, VIDE, BA)
According to an industry group, personal-computer shipments have increased by 22.4% to 81.5 million in Q2, despite concerns related to global economy in the broader market. According to IDC, Dell Inc (NASDAQ: DELL) has regained its No. 2 spot, while Hewlett-Packard Co (NYSE: HPQ) continues to hold the leading position. The analyst Jay Chou mentioned, "The factors which led to the recent PC rebound -- an aging commercial installed base, a proliferation of low-cost media-centric PCs, and low PC penetration through much of the world -- remain key drivers going forward."
Shares of Video Display Corp (NASDAQ: VIDE) soared more than 14% after the company reported a three-fold increase in its fiscal Q1 earnings. The company has also raised its earnings forecast for the fiscal year 2011 to $0.23-$0.25 per share, from $0.20-$0.22 per share.
Boeing Co (NYSE: BA) expects the global fleet of commercial aircraft to rise by 64% to 30,900 from current level of 18,890 by 2029, boosted by demand in the Asia-Pacific region. The region’s traffic is expected to rise by 7.1% per annum, as compared to 2.8% growth in the North American region. According to the Chicago manufacturer, the Asia-Pacific region will become the world's dominant aerospace marketplace within 20 years.
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