Hewlett-Packard shares dive over likely earnings miss

Summary:HP plunge 13% over Unix concerns

Hewlett-Packard shares plunged 13 percent Wednesday after a slew of analysts cut their fourth-quarter and fiscal 1999 earnings estimates on concerns that its UNIX workstation business was struggling and corporate PC sales were lagging.

Although HP didn't make a formal announcement, it did confirm late Wednesday that it had spoken individually to different analysts, telling them that weak North American server sales could weigh on results for the fourth quarter.

Topics: Tech Industry

About

Larry Barrett is a freelance journalist and blogger who has covered the information technology and business sectors for more than 15 years. Most recently, he served as the online news editor for 1105 Media's Office Technology Group and as the online managing editor for SourceMedia's Investment Advisory Group publications Financial Pl... Full Bio

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