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Technology Stocks : All About Sun Microsystems
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To: Carmine Cammarosano who started this subject1/11/2001 11:35:09 PM
From: QwikSand   of 64865
 
Briefing.com's droll item on the HWP warning. Emphasis on the last sentence, the one crammed full of dry wit, is mine.

--QS

Hewlett-Packard (HWP) 32 5/16 +9/16: Here they go again... Weeks after reaffirming earnings, HWP out with a warning after the close... Company now sees Q1 EPS of $0.35-0.40 versus current EPS estimate of $0.42... Cited worsening economic conditions and a deceleration in corporate and consumer IT spending in recent weeks, primarily in the U.S... CEO Carly Fiorina said, "It's clear there's been a significant change in market conditions in recent weeks. Consumer spending in the U.S. has been below even our own conservative estimates and our enterprise customers -- responding to the growing economic uncertainty -- have become increasingly cautious about IT spending." Gross margin guidance is at the low end of the 27.5 to 28.5% range previously provided... Street will begin to lose confidence in Fiorina if company continues to miss its numbers.
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