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HP $8.8 Billion Write Off

HP says it had to write off $8.8 billion in Q4 because acquired IT company lied about its books [updated]

November 20th, 2012

HP (HPQ) has gotten pretty used to writing off losses in recent quarters, and the company on Tuesday announced that it would incur yet another mammoth write off of $8.8 billion linked to its 2011 acquisition of enterprise information technology firm Autonomy. What makes this latest write off particularly interesting is that HP says that the “majority of …

Windows RT Criticism

HP’s PC boss slams Microsoft Surface and Windows RT

November 15th, 2012

Microsoft’s (MSFT) new Windows RT operating system is no stranger to criticism and while BGR’s review of the new Surface tablet was favorable, the device was not well received in other early reviews. Executives at Microsoft’s partner companies have been outspoken about the Surface as well, and HP’s (HPQ) PC boss Todd Bradley  joined in during …

Lenovo dethrones HP as top global PC manufacturer

October 11th, 2012

According to third quarter estimates from research firm Gartner, Lenovo (LNVGY) has edged out Hewlett-Packard (HPQ) to become the world’s largest PC vendor. Worldwide PC shipments in the third quarter declined more than 8% year-over-year to total 87.5 million units. The Chinese company is estimated to have shipped 13.7 million units in the quarter, representing …

Analyst values HP’s stock at negative $2, calls the company worthless

October 5th, 2012

Sterne Agee analyst Shaw Wu on Friday downgraded his recommendation of Hewlett-Packard (HPQ) to neutral, noting that the company is worthless and its stock should be valued at negative $2, Business Insider reported. The analyst called the company’s balance sheet “a mess” and said its was “fortunate the stock’s not zero.” 

HP is hiring 53 engineers to ramp up open source development of webOS

October 4th, 2012

After taking the wraps off Open webOS 1.0 last Friday, Hewlett-Packard (HPQ) has posted job listings for engineers in Shanghai, China and Sunnyvale, California, The Power Base reports. A total of 53 job listings have been made public. Positions include senior Linux software engineers, senior visual designer, senior product manager and many more. The Power Base says …

HP CEO confirms no new smartphones coming in 2013

October 4th, 2012

Hewlett-Packard (HPQ) CEO Meg Whitman on Wednesday revealed that the struggling PC company will not be releasing a new smartphone in the coming year. The announcement came during a meeting with analysts where the executive reaffirmed her previous statements that HP will eventually offer another handset to avoid falling behind the curve, Computer World reported. 

HP warns investors of ‘broad-based profit decline’ in near term

October 3rd, 2012

HP (HPQ) has been in trouble for a while now, and the company on Wednesday warned investors and analysts that things wouldn’t be getting better anytime soon. Per Business Insider, HP told attendees at a company analyst meeting today that “HP’s profit forecast for FY 2013 comes in at $3.40-$3.60 per share, below $4.16 average …

HP could be headed for another multibillion-dollar write off

September 28th, 2012

Even if the worst is over for HP (HPQ), the company may not yet be done writing off losses from past acquisitions. The San Jose Business Journal interviewed a few analysts to get predictions on what HP’s analyst meeting will reveal next week, and Jefferies’ Peter Misek says that the electronics giant could be poised to write off …

WebOS opens up at last [video]

September 28th, 2012

WebOS, the dearly departed mobile operating system developed by Palm and purchased by HP (HPQ), is open source at last. HP on Friday took the wraps off of Open webOS 1.0, which has “an OpenEmbedded build that allows a full webOS experience running inside an OE emulator,” along with core email and browsing applications that can be ported onto …