At market opening today, HP took a big hit, with shares (NYSE:HPQ) trading at $11.65, 12.41 percent below yesterday’s level. The company announced disappointing earnings before market opening. As analysts expected a $2.2 billion of net profit, the $8.8 billion loss came as a very bad last minute surprise. HP blames accounting frauds preceding HP’s acquisition of Autonomy.
Shares closed at 13.30 yesterday. Yesterday morning, Forbes reported that HP was trading near its 2001 low, evaluating the possibility of having hit a low, with the worst behind.
During the earnings call, HP CEO Meg Whitman said that HP’s recovery is a “multi-year journey” and that the company was committed to new products.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here