November 20, 2012
Below is from an article in Marketbeat this morning:
H-P Shares Tumble to 10-Year Lows; Analysts Throw in the Towel
Shares sank 13% to $11.62, the lowest level since October 2002.
“This story has been an unmitigated train wreck,” says Brian Marshall, an analyst at ISI Group. “It seems every time management speaks to the Street, there is new negative incremental information forthcoming.”
He downgraded his rating to neutral from buy following this morning’s news, saying the firm can no longer recommend investors buy the stock at current levels. ”The end is not in sight,” Marshall says. “H-P has become the ‘quintessential value trap’ as material negative news overrides any small positive developments and forward estimates continue to decline at a rapid rate.
“We apologize to investors for our extremely poor performance on this attempted ‘value’ play,” Marshall added.
I’ve been watching this stock for awhile, along with Intel.
I love headlines like this. Likely that all the bad news is baked in the cake, so to speak. Plus, it has a dividend of 4.4%, which fits my criteria. Bought shares at 11.52. Stop at 11.20, low today is 11.35.
Article in Nov 12-18, 2012 Businessweek states:
Right now, U.S. citizens are paying $2.4 trillion for their government. That’s what federal revenue added up to this year, according to the Congressional Budget Office. Some 46 percent of that total comes from individual income taxes, 35 percent from payroll taxes meant for Social Security and Medicare, 10 percent from corporate income taxes, and the last 9 percent from estate and gift taxes, excise taxes, and others.
Only 10% from businesses!!!
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