Thursday's Trades: HP, SentinelOne, Salesforce, and More
When a stock falls in the double-digit percentage amid a rising market, investors should be wary. HP Inc. (HPQ) will open down by around 15% after the printer and desktop computer supplier posted results.HP posted a 7% Y/Y increase in personal systems revenue, to $9 billion. Printing revenue fell by 4% Y/Y to $4.2 billion. CEO Enrique Lores blamed a dynamic regulatory environment for the weak results. He said the company responded quickly by accelerating the expansion of its manufacturing footprint. This would decrease its cost structure.HP is forecasting full-year earnings of $3.00 to $3.30 a share, below analyst estimates.Cybersecurity firm SentinelOne (S) may open down by more than 10% this morning. It posted an EPS of $0.02 (non-GAAP). Revenue grew by 22.9% Y/Y to $229.03 million. The 24% annualized recurring revenue growth to $948.1 million is not enough for this stock.In the artificial intelligence sector, Nvidia (NVDA) should open up by at least 4%. In the first quarter, revenue grew by 69.2% Y/Y to $44.06 billion. CEO Jensen Huang said that demand for Nvidia’s AI infrastructure is incredibly strong. AI inference token generation grew tenfold in only one year. Once AI agents become mainstream, AI computing demand will accelerate even more.
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