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[video] Quick Take: Hewlett-Packard to Shed Light on Turnaround in Earnings

Stocks in this article: HPQ

NEW YORK (TheStreet) -- Investors will get another glimpse into whether CEO Meg Whitman's turnaround plan is working when tech giant Hewlett-Packard (HPQ) reports earnings after the close. 

TheStreet's Brittany Umar says the key business elements for investors to watch are core software, 3-D printing and the cloud. All three business segments are directions that Hewlett-Packard is exploring and could be positive catalysts in the future. 

Umar also said that investors should pay attention to PC sales and whether they have finally bottomed. She added that the company's views on competition and its spending will also be scrutinized. 

The company has beaten earnings estimates three of the past four quarters. Analysts are looking for 84 cents per share, which would represent a 2 cents per share increase from last year's results. 

Analysts are also looking for revenue of $27.17 billion, which would represent a 4% decline from the same period last year, Umar concluded. Shares are down by roughly 1% in midday trading.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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