Hewlett-Packard shares are likely to head higher even after their recent gains on the company's upbeat earnings report, according to American financial weekly magazine, Barron's. Last week HP posted a 38% increase in first-quarter profits with an increase in net sales of 13 percent to $28.5 billion. In a positive outlook it raised its full-year expectations for 2008.

 

Barron's quoted Goldman Sachs analyst David Bailey as saying HP's product and geographic diversification had placed it at the "right intersection of international, notebook and consumer."