H-P Sees Lower Third-Quarter Profits: Hewlett-Packard Co....

H-P Sees Lower Third-Quarter Profits: Hewlett-Packard Co. said its third-quarter earnings would be below Wall Street analysts’ expectations, causing the firm’s stock to fall $2.50 to $52.75 in New York Stock Exchange trading. Hewlett-Packard said it expects to report quarterly earnings of 75 cents to 80 cents a share after a reduction of 10 cents to 15 cents due to its acquisition of Apollo Computer Inc. in May. Analysts had expected the company to earn about 90 cents a share for the quarter. The Palo Alto-based company, a leading manufacturer of computers, earned 80 cents a share in the year-earlier period.