DJIA loses value because of Hewlett-Packard Company (NYSE: HPQ)’s bad reports

Hewlett-Packard Company shares lost in value

In brief: The Dow Jones Industrial Average started trading in the red zone after Hewlett-Packard Company (NYSE: HPQ)'s quarterly profit rose by 6,1%.

The Dow Jones Industrial Average remains below the 10.272 points, losing -1.39%. At the same time, Hewlett-Packard Company (NYSE: HPQ) reported increased net profit for the third quarter by 6.1% from $ 1.67 billion previous year to $ 1.77 billion.

Sales for the period rose by 11% to $ 30.7 billion. The company also published a forecast on increase of earnings for the year from $ 4.49 to $ 4.51 per share and revenue of $ 125,3-125,5 billion. However, according to analysts, the company will have hard times achieving this goal, given the fact that it is still looking for a successor to Mark Hurd who earlier this month resigned from CEO post.

Anna Krostenski
2010-08-20 13:14, Economics.

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