3 Stocks to Short for the Shutdown

The budget argument continues, the debt ceiling deadline nears ... and the shorts are finally asserting themselves

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100713HPQ 300x249 3 Stocks to Short for the Shutdown
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Tech heavyweight Hewlett-Packard (HPQ) continues to struggle with its turnaround amid a stagnant PC market and stillborn attempts to diversify into tablets and cellphones. UBS recently cut its price target on the stock, expecting lower earnings guidance out of HPQ’s Oct. 9 analyst meeting.

As the turnaround gets tougher, CEO Meg Whitman is backing off of revenue growth prospects for 2014 and notes that recent management changes will take time to have a positive impact.

For now, HPQ shares are looking vulnerable as they melt below their 200-day moving average.

Article printed from InvestorPlace Media, http://investorplace.com/2013/10/3-shutdown-stocks-to-short-hpq-cx-sne/.

©2015 InvestorPlace Media, LLC

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