Market Preview: Holding Out for a 'Grand Bargain'

Tickers in this article: SPY JPM ^DJI ^GSPC BBY ^IXIC HPQ GRPN

Last week's poor numbers from Dell(DELL) prompted a fresh exodus out of HP shares, which are now down more than 48% year-to-date. The Dow component's problems are well known as CEO Meg Whitman has found been gamely trying to reorganize the top PC maker just as the macro environment has turned sour.

Sterne Agee has a neutral rating on the stock, and the firm is projecting the top line could be a bit light.

"Based on our supply chain work, we anticipate light revenue but a meet or beat on EPS due to cost controls," the firm said. "For its outlook, we anticipate the company to reiterate its recently lowered guidance range of $3.40-$3.60 in EPS for FY13 vs. consensus at $3.52. With DELL, INTC, and MSFT giving disappointing comments on PC demand, investor expectations are fairly low."

The majority of the sell side is on board with Sterne Agee's skepticism as 27 of the 33 analysts covering HP are at either hold (19), underperform (6) or sell (2).

Check out TheStreet's quote page for Hewlett-Packard for year-to-date share performance, analyst ratings, earnings estimates and much more.

Other companies slated to report on Tuesday include American Woodwork (AMWD) , Campbell Soup (CPB) , Chico's FAS (CHS) , DSW Inc. (DSW) , Eaton Vance (EV) , Fred's(FRED) , Genesco(GCO) , H.J. Heinz (HNZ) , Hormel Foods (HRL) , Medtronic(MDT) , Salesforce.com(CRM) , School Specialty (SCHS) , Tech Data (TECD) , Valspar(VAL) , and Zale Corp. (ZLC) .

Tuesday's economic calendar includes housing starts and building permits for October at 8:30 a.m. ET. The consensus estimates are at 840,000 and 870,000 respectively, according to Briefing.com.

And finally, Monday's after-hours session featured a move higher by beaten-down deals company Groupon(GRPN) , which gained ground after hedge fund Tiger Global Management disclosed a stake of 65 million class A shares in the company. That represents 9.9% of Groupon's outstanding class A stock, according to Reuters.

Groupon shares, which priced at $20 each in the company's initial public offering last November, were last quoted at $3.20, up 3.1%, on extended volume of more than 150,000, according to Nasdaq.com.

Also making headlines late was Dow component JPMorgan Chase (JPM) , which named Marianne Lake as its next chief financial officer, succeeding Doug Braunstein, who is becoming the bank's vice chairman.

Lake, currently the CFO of the company's consumer and community banking business, is expected to transition into the CFO role during the first quarter of 2013, JPMorgan said.

--Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron .