Tech stocks: HP jumps early

Hewlett-Packard appears to be reaping the benefits of an earnings reports topping expectations on Thursday. Here's a look at the stocks to watch on Friday.

HP stock up early. Shares in the personal computer maker have surged more than 5% in pre-market trading after beating Wall Street predictions during its first quarter.

Although profits were down 16%, it was better than what HP and analysts anticipated, leaving investors hopeful for a turnaround as PC sales continue to sag.

Apple and "iPrefs." The plan from Greenlight Capital hedge fund manager David Einhorn for Apple to issue preferred stock did little to phase Apple's share price.

The stock closed at $446.06, down 0.6%, and is up above $450 as the markets get ready to open.

Einhorn's plan calls for "iPrefs," preferred stock that he claims won't touch Apple's $137 billion cash stockpile. Einhorn also continues to urge Apple shareholders to vote against a proxy on Feb. 27 that would make it tougher for the company to issue preferred stock.