
Sterne Agee analyst Shaw Wu on Friday downgraded his recommendation of Hewlett-Packard to neutral, noting that the company is worthless and its stock should be valued at negative $2, Business Insider reported. The analyst called the company’s balance sheet “a mess” and said its was “fortunate the stock’s not zero.” Outside of HP’s problematic balance sheet, the company still faces a number of other issues that can not easily be fixed such as its lackluster mobile portfolio and dying printer business. Read the full story at Boy Genius Report.