PALO ALTO -- This is the beginning of Chapter Two in the rebirth of Hewlett-Packard Co. HP, a hefty Silicon Valley institution that failed to capitalize on the beginning of the Internet wave, streamlined over the past year and rebranded itself as a nimble provider of everything the new economy could want -- hardware, software, services. New CEO Carly Fiorina reaped praise.
Then after spending all that time raising expectations, Hewlett-Packard was tripped up by them last week.
Fourth-quarter earnings rose 21 percent, but fell short of analysts' predictions by a dime per share. HP's stock price sagged below $40, down from $77.75 in March.
A contrite Fiorina took responsibility, admitted getting too caught up in negotiations -- now scrapped -- to buy the PricewaterhouseCoopers consulting company, and promised better results next time. But while the announcement was anticlimactic after months of HP hype, Fiorina's revolution is far from over. Many analysts said they expect HP's revenue to grow solidly, if not spectacularly.<
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Thomas Morgan said:
Palm ave. is an industrial area where many residents feel is more appropriate. Thank you Lisa for your work on this very important issue.
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