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Hewlett-Packard (HPQ) falls 6% on Goldman Sachs downgrade

Goldman downgraded HPQ to sell as the analyst warned investors that Goldman may be overestimating the chance of a successful turnaround and that earnings may be constrained for several years as the company continues to reinvest in R&D.  Meg Whitman was hired as CEO in September 2011 to replace the former CEO Marc Hurd. 
 
The stock moved up several months after Ms. Whitman's hire, but continued earnings disappointment saw the stock fall more than 50% in 2012.  Since November of 2012 though, the stock has doubled due to both a surprise in quarterly results as well as takeover speculation of competitor Dell.  HPQ is not currently owned by RIM clients, but it is on our radar as a possible replacement for a current position. 
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