Depends on all of the factors. Ovbiously to watch 1080 resolution the laptop screen will need to be 1080. Modern processors all have integrated GPU's that handle HD just fine thanks to built in hardware decoders. Just be wary that though they can handle native hd files fine when it comes to decoding other hd formats a low end cpu might not be up to the task.
Edit - in lookinig up theb950 specs it is a lower end Sandy Bridge CPU with integrated HD video that should handle plyback just fine.