This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Steve Jobs Remembered: Tech Weekly

NEW YORK ( TheStreet) -- Apple (AAPL - Get Report) was in the spotlight again this week as the world marked the one-year anniversary of Steve Jobs' death.

Jobs' successor as Apple CEO, Tim Cook, paid tribute to the tech icon on Friday in a message on the company's home page. Cook praised his predecessor's contributions, both to Apple and to the broader world of technology.

"One of the greatest gifts Steve gave to the world is Apple," Cook wrote. "No company has ever inspired such creativity or set such high standards for itself. Our values originated from Steve and his spirit will forever be the foundation of Apple."

Jobs, who stepped down from the Apple CEO's role in August 2011, was 56 when he lost his long battle with pancreatic cancer last year.

"Steve's passing one year ago today was a sad and difficult time for all of us," said Cook. "I hope that everyone today will reflect on his extraordinary life and the many ways he made the world a better place."

Apple also posted a video tribute on its Web site showing Jobs as most people remember him, proudly unveiling products such as the iMac, iPod and iPhone. The succession of black-and-white still images, set to Johann Sebastian Bach's moving cello suite "No.1 prelude" was interspersed with quotes from Jobs.

Shares of Apple, which is rumored to be preparing a new "iPad Mini", lost 2.2% for the week to close at $652.59 on Friday.


HP (HPQ - Get Report) shares plunged on Wednesday after CEO Meg Whitman outlined the sheer scale of the company's massive turnaround plan.

"I have said from the beginning that this is a four- to five-year journey," Whitman stated during HP's meeting with analysts in Santa Clara, Calif., warning that HP's still in the early stages of its corporate revamp. "2013 is a fix and rebuild year -- we will be working through the disruptions from the necessary changes we made in 2012."

HP says that it's on track to complete its restructuring by the end of fiscal 2014. By 2016, Whitman expects to see the company's revenue growing in line with GDP and operating profit growing faster than revenue.

For investors, though, the near-term pain looks set to continue. "I believe that we will continue to see a broad-based profit decline across business units in 2013," said Whitman. "The good news is that the bulk of the profit decline should be contained within Enterprise Services," she added.

The No. 1 PC maker also delivered a weaker-than-expected fiscal 2013 outlook during the analyst event. Excluding items, the Dow component expects earnings of $3.40 to $3.60 a share, well below Wall Street's estimate of $4.18 a share.

Earlier in the week, HP rolled out its Software-Defined Network (SDN) strategy, unveiling new software and applications to tap into the emerging tech trend.

HP shares lost 14% for the week to close at $14.73 on Friday.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
PCS $11.84 0.00%
ZNGA $2.85 2.52%
AAPL $124.43 -1.54%
FB $82.22 -1.18%
HPQ $31.16 -1.30%

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs