TheStreet's Jim Cramer says Hewlett-Packard was down yesterday when its earnings release came out, investors looked at the headline number and decided it was disappointing. However, Cramer thinks HP is a turnaround story and CEO Meg Whitman is going about it the right way. Whitman first stabilized the bleeding, then fixed the balance sheet and built up cash. Cramer thinks Whitman is at the "look around at her options" stage and he likes that HP is spending money on R&D while they buy back stock. Cramer says the company does not have a clear growth path yet, Cramer thinks the company will find one and he is long shares of HPQ.

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