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TheStreet Open House

Netflix, Apple, HP: Tech Winners & Losers

Stocks in this article: NFLXAAPLHPQSPLK

NEW YORK ( TheStreet) -- Netflix (NFLX) shares jumped 3.53% to $56.36 after a hedge fund manager made some positive comments about the stock.

Speaking at the Value Investing Congress in New York, Whitney Tilson of T2 Partners gave a presentation on why Netflix is a better business than Amazon (AMZN). Tilson contended that Netflix would "continue to grow faster than the market for considerable time." Tilson is long shares of Netflix.

In addition to being a hedge fund manager, Tilson is also responsible for putting together the Value Investing Congress, which runs Monday and Tuesday, and features top hedge fund names such as Bill Ackman and David Einhorn. TheStreet is attending the conference.


Apple (AAPL) shares were higher by 1.05% to $674.09 as the company started its $10 billion buyback program announced earlier this year.

Apple is currently dealing with fallout from the Apple Maps application on its new mobile operating system, as customers complain about the faulty directions and lack of locations.

Apple Maps Apology: Tim Cook's Grand Slam

In a letter to customers on the company's website last week, CEO Tim Cook wrote, "At Apple, we strive to make world-class products that deliver the best experience possible to our customers. With the launch of our new Maps last week, we fell short on this commitment. We are extremely sorry for the frustration this has caused our customers and we are doing everything we can to make Maps better."


HP (HPQ) shares were higher by 2.11% to $17.42 as the company announced a new Windows 8-based tablet, aimed for the enterprise market.

The ElitePad 900 is optimized for business applications, according to HP, and its features include an 8 megapixel camera on the back and a front-facing camera capable of 1080p video.

The tablet is slated to go on sale early next year, though no prices for the device have been announced yet.


Splunk (SPLK) shares are down 5.47% to $34.71 after a hedge fund manager at the Value Investing Congress said he was short the name.

Zack Buckley of Buckley Capital said detailed his short thesis on the San Francisco analytics software firm in a presentation.

Interested in more on HP? See TheStreet Ratings' report card for this stock.

-- Written by Chris Ciaccia in New York

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