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As Expected, Hewlett Packard Cuts Forecast
Earlier today, we cynically predicted that by purposefully leaking the Autonomy news, HPQ was merely "doing its best to mask ugly news later." Sure enough, HPQ has just released earnings early, with the stock being halted, and for a good reason. In the PR we find the following stunner (totally expected to Zero Hedge readers): "HP estimates full-year FY11 revenue will be approximately $127.2 billion to $127.6 billion, down from its previous estimate of $129 billion to $130 billion. FY11 GAAP diluted EPS is expected to be in the range of $3.59 to $3.70, down from its previous estimate of at least $4.27, and FY11 non-GAAP diluted EPS is expected to be in the range of $4.82 to $4.86, down from its previous estimate of at least $5.00. FY11 non-GAAP diluted EPS estimates exclude after-tax costs of approximately $1.16 to 1.23 per share, related primarily to restructuring and shutdown costs associated with webOS devices, the amortization and impairment of purchased intangibles, restructuring charges and acquisition-related charges." Whoever followed our advice to pound the robot driven spike earlier, congratulations.
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Can't wait to hear from Laszlo Byrini!!! How's his bull market doing?
he needs a bigger ruler now!
speaking of pounding....
http://rivals.yahoo.com/ncaa/basketball/blog/the_dagger/post/Wild-brawl-...
I told you.....market maker. But never fear, the SEC will shred the evidence unless you piss someone off. Piss off Goldman and you're going to jail.
DID EVERYBODY STOP PRINTING RESUMES?!
THIS MUST MEAN XEROX WILL BE UP!!!!!!!
NO MORE PRINTING MORE COPYING!!
Haha. Maybe when Ben announces QE3 he'll use that as his defense for further easing.
"I'm not printing more money. I'm just copying old money." - Ben Bernanke
Welp, there goes the "E" in P/E. Holy fucking timber. S&P to 900, believe it.
could also be that all companies are printing smaller earning reports, thus using less cardridges thus HP makes less money...
and than there's the Ipad... and the boxes of crayons... and the bad weather.... and the sun.... and the wind.....
hmmm..... I think you can make a blues song with all these words....
HP killed their printer biz a while ago.
Today we learned they are selling off their PC manufacturing business.
Once they ruin the software business they are acquiring (allegedly), they're planning on going into the spicy chicken wing business, I've heard.
Bill Hewlett and Dave Packard are waving the bird from their graves.
The old H/P business in test equipment (AKA Agilent) is still kicking. Maybe in a few year they'll be able to buy back the "H/P" brand identity for a few bucks and return the brand to its roots.
The return of the H/P engineers calculator will mean that the tech bubble will have been finally and duly dead.
fyre
This country is becoming more of a joke with each passing day. Most of these companies spend more time and money trolling each other over patents than they do producing actual products. In the not too distant future, private individuals or startups trying to do anything all will be prosecuted and locked up by courts owned lock, stock, and barrel by the do-nothing litigators and their minions.
But they are buying Autonomy! What is it with Autonomy - can't believe they are still around.
Margin call redemptions in 6 minutes!! Love it.
Hewlett Packard, I used to own one of those old calculators.
'HP Buffalo Wild Wings' I like it! Should be a $50 billion IPO easily Truth.
Oh, man, I hated those calculators. The nerd-snobs would always sing the virtues of the reverse-boolean or whatever it was called. You had to type in equations like Yoda: 2 = 2+
Reverse Polish Notation (RPN) is the term you are looking for.
The advantage of RPN over algebraic calculators is that it's possible in many cases to avoid the use of parentheses. Until algebraic calculators actually had parentheses (and most still don't), it was impossible to calculate the value of many complex expressions without literally writing down the intermediate values down on paper before a final value could be determined.
It's not nerd-snobbish, it's just a more efficient method of performing mathematical operations when you are doing more complicated things than adding or subtracting a series of numbers.
Hewlett the dogz out!
<golf clap>
+brilliant!
Laszlo "This is just a garden variety correction" Byrini.. where is this guy??? Why won't they put this guy on live CNBShit right now?
Bernanke must use an Epson.
As MarketWatch was touting Hewlitt Packard this morning as the lone savior of the day, ZH was preparing its readers for the coming plunge. What more can I say..?
127B/129B= 98.5%
1.5% cut , the end of world..
And what is the impact on net income when the $2 billion flows through straight to Net Income?
You mean they still track that?
$0.17/shr if you believe the new guidance. Of course this may or may not include additional buyback activity.
Bottom line, this management team has lost all credibility. I miss Mark Hurd.
In a year Hurd will be able to buy H/P outright for $500M cash when the company goes Chapter 7.
He won't.
Weren't they supposed to report after the close? I guess if you know the stock is going to puke, it's best to let it do so while the market is puking, otherwise you risk being big red in a green bounce market (maybe) tomorrow.
127 B business in this env., that is very good!!!
I don't think there is bounce coming tomorrow. Too much bad shit can happen on the WE.
US gov does not even have 127 B in their bank account...
what to complain?
Bravo, Tyler. That was an impressive call.
Quite so. Someone has been doing this gig for a while, seems like.
Somehow this all seems easier to call when you assume that everyone is a criminal
They need not be criminals, just really really good at game theory.
Leo Apotheker, his management and the HP BOD are about as dumb, ignorant and clueless as they come....and those are their finer qualities. Unfortunately.
Too bad the spike didn't last long enough to do anything with it unless you had your finger right on the button at the exact time the stock shot up.
HP KILLS THE TOUCHPAD AND SMARTPHONE BUSINESS!!!
Wow, just months after acquiring Palm the company is officially dead. Still I wouldn't mind buying a touchpad for $50. Best Buy probably wants a few heads at HP headquarters after restructuring half their PC area to feature tablets with the Touchpad front and center.
HP is a dead man walking. WAY TO GO CARLY!!! Even though she is a woman I would punch her in the face if I ever saw her. I'd say, "Thats for 9ml for $35 bitch".
Bullish for Apple.
Didn't Martha Stewart goto jail for this? Where is the SEC investigation of the leaked information & its source??
I just bought an HP laptop. fuck me.
hp is a shitty company and should not be used as a barometer, there are plenty of other legitimate reasons, 99 reasons but a bitch ain't one