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.
 

Contact Us