![]() tax system since the 1980s and will see that corporate tax rate slashed to 21 percent from 35 percent. The $1.5 trillion tax overhaul is the biggest reform of the U.S. tax changes is expected to push it further into the red. ![]() The 1 billion pound charge to account for the U.S. All Rights Reserved.Barclays already slumped to a 628 million pound attributable loss in the nine months to the end of September following write-offs in the wake of its exit from Africa. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. ![]() Neither HP nor Dell has been able to make major inroads in the mobile market, which is dominated by the likes of Apple ( AAPL) and Android developer Google ( GOOG). Both companies have struggled to shift to the changing trends in technology. The company missed Wall Street's forecasts, despite a low bar set by analysts. Last week, HP's PC rival Dell ( DELL) announced substantial drops in sales and profit in its past quarter. Only sales in HP's software unit - the company's smallest - rose. HP's services business sales declined by 6%, and server revenues sank by 9%. Sales in HP's cash cow printing unit fell by 5%. It was a tough quarter across the board for HP. Curiously, HP reaffirmed its full-year earnings-per-share outlook of between $3.40 and $3.60, which is in line with analysts' estimates. The company said it expected earnings per share in the range of 68 cents to 71 cents, far below Wall Street's median estimate of 85 cents. Making matters worse, HP's outlook for the current quarter badly missed analysts' estimates. Sales fell 7% to $30 billion, missing analysts' forecasts of $30.4 billion. Analysts polled by Thomson Reuters, who typically exclude one-time items from their estimates, forecast earnings of $1.14 per share. HP merged with Compaq in 2002.Įxcluding the write-down and $400 million of other one-time charges, HP said it earned $1.16 per share. In the third quarter, HP took a $10.8 billion restructuring charge, after it cut 27,000 jobs and wrote down the value of the Compaq brand. It was the second consecutive quarter of multi-billion dollar losses for HP. The Palo Alto, Calif.-based company said its net loss for its fiscal fourth quarter, which ended Oct. Whitman said she expects the legal process to be a "multi-year journey." She has used the same phrase to describe HP's overall turnaround effort.ĭue to the Autonomy write-down, HP reported a substantial quarterly loss. The tech giant also said it intends to file civil charges against Autonomy's past leadership to recoup shareholders' losses. Securities and Exchange Commission as well as British law enforcement, and she said the company hopes those agencies pursue criminal charges. Whitman added that HP has filed a complaint to the U.S. Whitman said one of her first actions when she took over at HP was to place the mergers and acquisitions and due diligence teams under the CFO's wing. She said the teams responsible for due diligence had previously reported to HP's chief strategy officer - not the chief financial officer, as is the standard across most major companies. Whitman also noted that HP has taken action to ensure that something like the Autonomy snafu never happens again. But she said the purchase was thoroughly audited by consulting giant Deloitte, which itself was audited by KPMG - and neither of those companies found anything suspicious about the deal. Whitman said that the board - of which she was a part at the time of the purchase - "feels terribly" about missing Autonomy's accounting fraud. Facing analyst questions about who should be held responsible for the screw-up, Whitman said Apotheker and Shane Robison, HP's former head of strategy, are to blame, and she noted that they are both gone.
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