Jefferies' Peter Misek has downgraded H-P (HPQ) to Hold, arguing its restructuring efforts won't be enough to offset Euro weakness and declining PC and printer sales. Moreover, Misek thinks Windows 8 will actually be a negative for PC sales, as its emphasis on touch accelerates tablet cannibalization (ed: is this really a problem for H-P if it sells a lot of Windows 8 tablets?). HPQ -2.7%, joining the market's post-NFP selloff.
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