OTHER NEWS - Aug. 8, 1992
From Times Staff and Wire Reports
Hewlett-Packard’s Stock Tumbles on Profit Forecast: Hewlett-Packard’s shares plunged $12.625 a share to close at $58.875 on the New York Stock Exchange, where it was the most-active issue, after the computer and scientific instruments maker said its earnings will be sharply lower than Wall Street expected. The firm said it expects to earn between $192 million, or 76 cents a share, and $220 million, or 87 cents a share, for the quarter ended July 31. Analysts had estimated that H-P would earn about $284 million, or $1.12 a share. H-P, which will announce the results Aug. 18, blamed the lower-than-expected profit on the sluggish economy.
