Carly Out At HPQ. Here’s The Trader Talk…

Stocks are lower after a good, but bland report from
Cisco. Blue chips are being supported somewhat by Hewlett Packard. A
mid-morning sell program dropped the market, giving it the first real volatility
this week.

Carly Fiorina is stepping down at Hewlett Packard
(
HPQ |
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Chart |
News |
PowerRating)
effective immediately; 36-year company veteran and CFO Robert P. Wayman was
named interim CEO. Fiorina came to HPQ in July of 1999. HPQ is trading up 4%.
Trader talk: Will HPQ buy an IT company? Will the printer business be spun off?
Will there be an earnings revision?

Cisco
(
CSCO |
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News |
PowerRating)
reported in-line at 0.22. Net income nearly doubled, revenue rose 12%. Margins
and revenues were at the low end of guidance.

American International Group
(
AIG |
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Chart |
News |
PowerRating) said Q4 profit rose 11%; the
company beat by 0.02.

Hillenbrand
(
HB |
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PowerRating) missed by 0.04; CEO Frederick Rockwood said
“…deaths remain at historically low levels.” The company makes medical
equipment and caskets.

Cigna
(
CI |
Quote |
Chart |
News |
PowerRating) beat by 0.02; Q4 profit nearly doubled.

Remember, the Google
(
GOOG |
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PowerRating) lock-up period ends on Valentine’s
Day;  177 million shares become available for sale.

The SOX has gained +11% in the past 3 weeks.

Stocks in the News

Occidental Pete
(OXY)
raised Q4 guidance.

Bob Evans Farms (BOBE)
lowered its guidance after reporting same store sales that were way off.

Merrill Lynch raised eBay
(
EBAY |
Quote |
Chart |
News |
PowerRating) to a ‘buy’ from ‘neutral.’

Krispy Kreme
(
KKD |
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News |
PowerRating) will cut 25% of its non-store workforce.

Starbucks
(
SBUX |
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Chart |
News |
PowerRating) will roll out breakfast and lunch items.

Advanced Micro Devices
(
AMD |
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Chart |
News |
PowerRating) was raised to ‘overweight’ at Morgan
Stanley.