Losses Caused by Autonomy Purchase
Hewlett-Packard's earnings beat, but that was about the only good news. Revenue of $29.96 billion missed the $30.43 billion estimate. First-quarter profit will be no more than $0.71, well below the $0.85 consensus estimate. The company also said it took an $8.8 billion charge after discovering irregularities at software company Autonomy, which it bought last year. HPQ is down 9 percent before the bell on my tradeMONSTER platform.
Groupon Climbs As Hedge Fund Builds Position
Groupon has been going straight down since its IPO a year ago, but yesterday afternoon hedge fund Tiger Global announced it bought almost 10 percent of the shares. GRPN surges more than 9 percent in early trading.
Green Mountain Climbs Hires New CEO
Green Mountain Coffee Roasters hired Coca-Cola executive Brian Kelley as its new CEO. That ends a search that has taken more than half a year. GRMN climbs 7 percent in early trading.
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