(FOOL GLOBAL WIRE) ST. PETERSBURG, FL. (July 26): With the Nasdaq Composite still riding the wave back up after its recent 20% correction, the Investing For Growth portfolio bounced again today. The year-to-date returns are still underwhelming, but at least things look brighter than they did two or three weeks ago.
The only news on IFG stocks today was Hewlett-Packard's <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:HWP)") else Response.Write("(NYSE:HWP)") end if %> announcement that its personal computer business was booming around the world, despite a slowdown in order growth across many of its other computing product lines. Added to Compaq Computer's <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CPQ)") else Response.Write("(NYSE:CPQ)") end if %> recent bullish results for PC sales, the prospects for the second half of 1996 are looking less bleak than many analysts have predicted.
Duane Zitner, general manager of HP's Personal Information Products Group, told Reuters that "business for us here is doing extremely well. Growth is really, really excellent. Year-on-year growth is comparable, and we have been the fastest-growing PC business in the world for three years in a row."
I'll be traveling tomorrow, so look for this weekend's IFG updates (in the IFG Statistics Center) sometime Sunday afternoon.
Transmitted: 7/26/96 | ||||||||
INVESTING FOR GROWTH MODEL (7/26/96) | ||||||||
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