Tech stocks: Upgrade lifts HP shares

Shares of PC company Hewlett-Packard jumped 3.4% following a favorable upgrade from J.P. Morgan.

According to Marketwatch, analyst Mark Moskowitz raised their rating to "outperform," based on a stabilizing PC market.

PC companies such as HP, Dell and Intel have faced challenges as more consumers shift away from PCs in favor of tablets. IDC forecasts tablets will outsell PCs by the end of the year.

In October, HP CEO Meg Whitman says the company is making "real progress" in a turnaround plan, hinting at share repurchases and dividends for shareholders.

Follow Brett Molina on Twitter: @bam923.