HP Fourth Quarter Post Causes Stocks to Dive
Shares of Palo Alto-based Hewlett-Packard Co. are trading sharply lower after the company posted disappointing fourth-quarter sales.
After the markets closed yesterday the computer and printer maker reported its profits dropped 13 percent for the first quarter.
HP says belt-tightening by IT departments was being felt across nearly all of its businesses.
At last check, shares of Hewlett-Packard were down about seven percent in active trading.
Published at 10:29 AM PST on Feb 19, 2009 | Updated at 10:30 AM PST on Feb 19, 2009