Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, November 26, 2010

Article Excerpt

DEL MONTE FOODS CO., $18.83, New York symbol DLM, has accepted a $19.00-a-share takeover offer from a private equity group led by KKR & Co. (New York symbol KKR). The company has until Janury 8, 2011, to seek a better offer. If it can’t find another buyer, the deal with KKR should close by March 31, 2011. The stock is trading at 0.9% below the offer, which indicates that investors do not expect a higher offer. Del Monte is now a hold. HEWLETT-PACKARD CO., $43.20, New York symbol HPQ, reported higher sales and earnings in its 2010 fiscal year, which ended October 31, 2010. Earnings rose 15.7%, to $10.9 billion from $9.4 billion in fiscal 2009. Earnings per share rose 19.0%, to $4.58 from $3.85, on fewer shares outstanding. These figures exclude writedowns of intangible assets, like goodwill, and the cost of integrating companies that Hewlett-Packard purchased. On that basis, the latest earnings beat the consensus estimate of $4.45 a share. The company’s sales…