HP to the Rescue

8:45 AM -- What's lingering from the Cisco Systems Inc. (Nasdaq: CSCO) earnings call is the weakness in enterprise spending, especially among U.S. customers. "Our top 25 companies is where we really saw the challenge," CEO John Chambers said on the call earlier this month.

But yesterday, you had HP Inc. (NYSE: HPQ), which talked about enterprise storage and services growing to $5.2 billion during its fourth quarter, which ended Oct. 31. That's up 10 percent from the previous year.

It's looking as if HP is the anomaly. The New York Times points out that IBM Corp. (NYSE: IBM) and NetApp Inc. (Nasdaq: NTAP) have noted weakness in U.S. enterprise customers.

What's different about HP? Possibly that it doesn't have much exposure to the financial industry, where spending has particularly weakened, or that it gets 65 percent of its business from outside the U.S.

Cisco stock was up a few pennies after-hours, but this doesn't look like the big news needed to erase the slide of the past couple of weeks.

— Craig Matsumoto, West Coast Editor, Light Reading

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