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News Summary: HP's stock rises despite 2Q erosion

The Associated Press

MIXED BAG: Hewlett-Packard Co.'s latest quarterly report showed the company's earnings are holding up better than management and analysts anticipated, even as the world's largest personal computer maker struggled to meet the growing demand for more versatile and less expensive mobile devices.

RELIEF RALLY: After the fiscal second-quarter results came out late Wednesday, HP's stock soared by more than 13 percent. Investors were pleased with HP's adjusted earnings, which were 6 cents per share above analyst projections.

CRUMBLING SALES: HP's revenue has fallen from the previous quarter in seven straight quarters. That included a 10 percent decline in the latest quarter, the biggest drop yet.