Why HP Stock Just Dropped 5%
Shares of HP (NYSE: HPQ) -- that's Hewlett-Packard to stock market old-timers -- are getting hammered in early trading Friday, down 4.7% as of 10:55 a.m. EDT after the PC maker "beat" on earnings last night but scared the market with its guidance.
Expected to report $0.55 per share on sales of $14.6 billion in its fiscal third-quarter 2019, HP met analysts' revenue forecast and delivered a pro forma profit of $0.58 -- and GAAP earnings of $0.78 per share.
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Source Fool.com
