Plus   Neg

HP Posting Notable Loss On Downgrade By J.P. Morgan

Shares of HP Inc. (HPQ) have moved notably lower during the trading session on Friday, with the software company falling by 3.9 percent. HP is pulling back off its best closing level in eighteen years.

The pullback by HP comes after an analyst J.P. Morgan downgraded his rating on the company's stock to Neutral from Overweight.

"Component shortages, FX, shift to contractual, and tariff uncertainty will weigh on overall top-line in FY19 and we see limited catalysts after several consecutive quarters of solid growth," said J.P. Morgan's Paul Coster.

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