Why HP Inc. (HPQ) Went Down On Friday?

We recently published a list of 10 Battered Stocks on Friday. In this article, we are going to take a look at where HP Inc. (NYSE:HPQ) stands against other battered stocks on Friday.

The stock market ended the trading week in the green territory, with all major indices gaining more than 1 percent after slipping into the negative territory at intra-day trading following a clash between US President Donald Trump and Ukrainian leader Volodymyr Zelensky at the White House.

Following the televised meeting, the two leaders concluded the encounter without a deal for joint development of mineral resources.

The Dow Jones jumped by 1.39 percent, the S&P 500 surged by 1.59 percent, and the Nasdaq soared by 1.63 percent.

Ten companies bucked a broader market optimism, with three stocks heavily battered by disappointing earnings results, losing more than 20 percent in their valuations.

In this article, we have detailed the reasons behind their weak performance.

To come up with Friday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A laptop, showing off the companys sleek notebook computers and workstations.

HP Inc. (NYSE:HPQ)

HP Inc. (NYSE:HPQ) dropped for a fourth straight day on Friday, losing 6.82 percent to finish at $30.87 each as investors soured on disappointing earnings performance for the first quarter of fiscal year 2025.

In its latest earnings release, HP Inc. (NYSE:HPQ) said net income for three months ending January 31, 2025, dropped by 9 percent to $565 million from $622 million in the same period a year earlier, while revenues inched up by 2 percent to $13.5 billion from $13.2 billion in the same comparable period.

According to HP Inc. (NYSE:HPQ) Chief Finance Officer Karen Parkhill, HPQ said it drove solid progress in the first quarter of the year, “and are raising our Future Ready savings target from $1.6 to $1.9 billion dollars by the end of fiscal year 2025.”

“We are holding our outlook for the year and remain focused on disciplined execution as we continue to invest for the future,” she added.

Overall, HPQ ranks 5th on our list of battered stocks on Friday. While we acknowledge the potential of HPQ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HPQ but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.