Read between the lines.
From Reuters: “Hewlett-Packard Co saw no change in spending from financial-services customers in its fiscal fourth quarter, Chief Executive Mark Hurd said on Monday.”
Mark Hurd deserves a lot of credit for jumping on a nasty situation with guns ablaze. Things are definitely getting better. But Mark also said:
“We do not have a huge exposure to the financial services industry.”
How about getting an opinion on financial services capital spending from a company that DOES have material exposure to the sector?
The Reuters headline smells funny. Even Barron’s piled on without a hint of skepticism.