hpq

Here is a recap of the top news items from this week on Wall Street: 1. Shares of HP (NYSE: HPQ) plummeted about 25 percent this week as investors are beginning to speculate on just how long it will take to turnaround the company.

Rumors of a spinoff of HP's PC business were confirmed on Thursday, as well as talks with London-based enterprise software company Autonomy.

The company reported Q3 EPS of $1.10 on sales of $31.2B and said it expects FY11 EPS of $4.82-$4.86, down from prior guidance of about $5.00. 2.

The Euro banking group was in focus this week

UPGRADES Bernstein ups Research In Motion Ltd.

(Nasdaq: RIMM) from Underperform to Market Perform, maintaining a $40 price target. UBS lifts KB Home (NYSE: KBH) from Sell to Neutral, cutting its price target from $12 to $11. Click Here for more color.

Citi boosts Under Armour, Inc.

Las Vegas (PRESS RELEASE – January 6, 2011) – HP (NYSE:HPQ) unveiled new business desktop PCs, thin clients and monitors that deliver performance and value, helping small businesses and large enterprise customers improve productivity and reduce the environmental impact of their technology.

“iNEMI Position Statement on the ‘Definition of Low-Halogen Electronics (BFR/CFR/PVC-Free).’”

Among the products announced:

Green Mountain (Nasdaq: GMCR) 14% LOWER; shares are tumbling in the after-hours session as, in a Form 8-K, the company has disclosed that an SEC enforcement unit has requested documents related to the revenue recognition from a relationship with a vendor.

Sealy (NYSE: ZZ) 13.7% LOWER; reports Q3 EPS of $0.04, ex-items, 1 cent lower than the analyst estimate of $0.05.

Revenue for the quarter was $346.2 million, which compares to the estimate of $364.00 million. ModusLink Global Solutions, Inc.

This report is an intraday check of some of the more notable stocks that have hit a 52-week high or low so far today. 52-Week High:

• 3PAR, Inc.
  
  (NYSE: PAR) high of 33.84. In the heat of an M&A battle earlier in the day today, shares jumped up to a 52-week high as Dell (Nasdaq: DELL) and Hewlett-Packard (NYSE: HPQ) battled to gain control of the company.
  
  HPQ may ultimately win this battle with a $33 per share bid, which caused Dell to drop out of the running, and withdrawal its $32 per share bid.
  
  On the bright

Here is a recap of the top news items from this week on Wall Street: 1. The bidding war for 3Par (NYSE: PAR) was unprecedented this week.

On Monday, HP (NYSE: HPQ) launched a rival $24/share bid for 3Par, topping a $18 bid from Dell (Nasdaq: DELL).

By the end of the week, HP raised its bid for 3Par to $30 per share. Dell matched it. Shares of 3Par closed the week at $32.46 on hope for an even higher bid.

Amazingly, shares of PAR were at just $9.65 on August 13th. 2. In a speech in

This report is an intraday check of some of the more notable stocks that have hit a 52-week high or low so far today. 52-Week High:

• Red Hat, Inc.
  
  (NYSE: RHT) high of $34.75. Could be seeing some upside to M&A in the cloud computing market today. Shares are up 3.9% as Dell makes a stronger bid for 3PAR (NYSE: PAR) and Hewlett-Packard (NYSE: HPQ) buys up privately-held Stratavia.
• MIPS Technologies Inc.
  
  (Nasdaq: MIPS) high of $6.78. See Red Hat above.

Gainers

• United States Oil (NYSE: USO) up 2.38% to $40.92. Oil up on positive economic outlook as initial claims for unemployment benefits dropped by 11k to 448k for last week.
• SPDR S&P 500 (NYSE: SPY) up 1.23% to $120.85.
  
  Up on an overall positive day in economics and upgrades. Earnings for the season have been solid for the first quarter.

Palm Inc. (Nasdaq: PALM) 27.2% HIGHER; Hewlett-Packard Co. (NYSE: HPQ) announced Wednesday that it has agreed to acquire Palm for approximately $1.2 billion.

The deal will see HP pay $5.70 per share for each share of Palm common stock, a 23 percent premium over the closing price of the shares on Wednesday.

IRobot (Nasdaq: IRBT) 21% HIGHER; reports Q1 EPS of $0.24, 20 cents better than the analyst estimate of $0.04.

Revenue for the quarter was $95 million, which compares to the estimate of $83.76 million.

Here is a recap of the top news items from this week on Wall Street: 1. Hewlett-Packard (NYSE: HPQ) surprised the Street with a monster deal this week.

On Wednesday, HP announced that it will buy 3Com (Nasdaq: COMS) for $7.90 per share in a deal valued at $2.7 billion.

Shares of 3Com surged more than 31%, but are still below the $7.90 level. A top competitor to 3Com, Brocade (Nasdaq: BRCD) had previously been thought to be a top takeover target for HP and the stock fell more than 13% to close this week's trading session. 2.

Intel (Nasdaq: INTC) announced