Entries in HP (10)


HP CEO's Grim Outlook Sends Company Shares Down

PRNewsFoto/Verizon Wireless(NEW YORK) -- Most CEOs act as cheerleaders for their companies, but not Meg Whitman.  The Hewlett-Packard boss delivered a grim outlook for her company on Wednesday that sent its shares into a tailspin.

HP's market value dropped more than $4.3 billion, with the share price plunging 13 percent after her remarks in San Francisco for analysts and investors.  

A Silicon Valley pioneer, HP is the world's largest seller of personal computers and printers.  Whitman expects a sharp drop in company profits over the next 12 months and says the problems are so severe it might be 2015 before sales begin to accelerate. 

Some analysts were surprised by the depth of the problems Whitman outlined, but others called her candor refreshing.

Copyright 2012 ABC News Radio


HP Announces Windows 8 Laptops and Tablets

HP(NEW YORK) -- It's not just Samsung and Toshiba with brand new Windows 8 computers to announce this week.  HP is also putting out details about its upcoming Windows 8 PCs, which include two ultrabooks with touch screens and a "hybrid PC."

Of the three computers, the HP Envy x2 stands out the most with its detachable screen, which allows it to be used as a standalone tablet or docked with the accompanying keyboard.  Like the Samsung Series 7 and the Microsoft Surface, the dock has a full sized keyboard and a touchpad.

HP says it has spent a considerable amount of time on the hinge design: the screen is joined to the keyboard dock with two separate hinges as opposed to one big latch.  Like the Samsung, HP's tablet has an 11.6-inch HD touch screen.

The Envy x2 has a brushed aluminum casing, weighs 3.1 pounds (the tablet weighs just 1.5 pounds) and will be available with Intel's third-generation processors and a 64GB solid state drive.  Similar to the Android Asus' Transformer, there are two separate batteries: one in the screen and one in the keyboard, which the company says should provide over eight hours of battery life.  It also has a front-facing camera and an 8-megapixel camera on the back of the tablet.

For those who prefer that the screen always be attached to the keyboard, there's the HP Spectre XT TouchSmart Ultrabook.  As its name implies, the 15.6-inch HD Radiance (1920 x 1080-resolution) display is a touch screen and has been optimized for Windows 8.  The 4.8-pound laptop is 17.9 mm thick, making room for HDMI, Ethernet, USB 3.0, and Thunderbolt ports.  It also has NFC (Near Field Communications) so you will be able to tap another device against it to share a file or photo.  The Spectre XT will cost $1,399.99.

For those looking for a cheaper laptop with a touch screen, HP will also have the Envy TouchSmart Ultrabook 4.  With a 14-inch touch screen, the TouchSmart is smaller than the Spectre, but will also be available with the latest Intel processors.  Samsung also showed Windows 8 laptops this week with touch screens.

HP isn't releasing pricing on the Ultrabook 4 or the Envy x2, but all products will be available on Oct. 26 when Windows 8 is officially launched.

Copyright 2012 ABC News Radio


HP Announces 27,000 Job Cuts

PRNewsFoto/HP(PALO ALTO, Calif.) -- Tech giant Hewlett-Packard Co. plans to cut 27,000 employees after revealing that third-quarter results will be lower than expected.

The company outlined plans after the close of the stock market for a “multi-year productivity initiative designed to simplify business processes, advance innovation and deliver better results for customers, employees and shareholders.”

The world’s largest computer maker, based in Palo Alto, Calif., had 349,600 employees as of Oct. 31, 2011.

The announcement was expected by the media and analysts after unconfirmed reports of layoffs last week. HP said it expects “approximately 27,000 employees to exit the company, or 8.0 percent of its workforce as of Oct. 31, 2011, by the end of fiscal year 2014.” The total number of employees affected will be lower because employees are being offered an early retirement plan. Since replacing former chief executive Leo Apothekar in September, HP CEO Meg Whitman has announced declining computer sales amid sharp competition from Apple Inc. and other electronics makers.

“These initiatives build upon our recent organizational realignment, and will further streamline our operations, improve our processes, and remove complexity from our business,” Whitman said in a statement. “While some of these actions are difficult because they involve the loss of jobs, they are necessary to improve execution and to fund the long term health of the company. We are setting HP on a path to extend our global leadership and deliver the greatest value to customers and shareholders.”

Hewlett-Packard stock has dropped 18 percent this year. Its shares fell 3.2 percent Wednesday to a closing price of $21.08.

The computer company reported sales fell three percent in its second quarter, which ended in April, to $30.7 billion.

Copyright 2012 ABC News Radio


Hewlett-Packard to Slash 30,000 Jobs

PRNewsFoto/Verizon Wireless(NEW YORK) -- Hewlett-Packard may soon be reducing its workforce by at least 8 percent in an effort save money and offset declining sales.

According to multiple reports, the company is considering cutting between 25,000 and 30,000 jobs.  The layoffs come as HP struggles to sell computers amid the rising popularity of tablets.

Citing people familiar with the matter, Bloomberg reports Hewlett-Packard’s enterprise services group, which is responsible for selling a range of information-technology services, may be reduced by 10,000 to 15,000.´╗┐

Copyright 2012 ABC News Radio


HP CEO May Be Ousted for Former eBay Boss

Ralph Orlowski/Getty Images(NEW YORK) -- Rumors of the ousting of Hewlett-Packard CEO Leo Apotheker drove the tech company’s stock up over seven percent when deliberations among the company’s board of directors leaked in published reports.

The notion of ousting Apotheker and potentially replacing him with former eBay CEO Meg Whitman seemed to please investors Wednesday, who along with a number of analysts believe that the company is in dire need of a shake-up.

Apotheker has been head of the struggling Silicon Valley company since November of 2010, and since he took control, HP’s stock has slipped nearly 50 percent.

Before his current position heading HP, Apotheker was the CEO of business software engineer SAP AG, beginning in April 2008, but he was forced out of that position less than two years later.  When he came on board as CEO at HP it was theoretically to steer the company away from controversy that included the departure of former CEO Mark Hurd, which was tinged with a sexual harassment lawsuit.

Apotheker has said that during his reign HP has been hindered by Hurd’s under-investment.  Still, Apotheker received wide criticism for his decision-making in selling HP’s personal computer division.  Many feel that Apotheker waffled over selling the business outright or holding it after an auction to gauge interest.

Potential HP replacement Whitman’s back story could prove controversial as well.  The former eBay CEO resigned in 2008 after 10 successful years with the company.  She did, however, just spend well over $100 million in an unsuccessful Republican campaign for California governor in 2010 -- shelling out more than any candidate for a statewide office in U.S. history.

On Wednesday, HP shares rose $1.65, or 7.3 percent, to $24.12.

Copyright 2011 ABC News Radio


HP TouchPad Tablet Returning for One Last Run

HP(PALO ALTO, Calif.) -- A funny thing happened to HP’s TouchPad on the way to oblivion.  It was so successful — now that the company is killing it — that HP has announced it will “produce one last run of TouchPads to meet unfulfilled demand.”

The company said on Aug. 18 that it was getting out of the computer hardware business.  In the days that followed, it held what amounted to a fire sale; retailers dropped the price on their leftover TouchPads to as little as $99.

And all of a sudden HP had a hit on its hands. The TouchPad — which had barely sold in the six weeks since its introduction — became the number-one seller on (for well over $99). Best Buy had trouble keeping it in stock.

“Thank you for enthusiasm for this product,” said HP’s Mark Budgell on the company’s blog, The Next Bench. “Despite announcing an end to manufacturing webOS hardware, we have decided to produce one last run of TouchPads to meet unfulfilled demand. We don’t know exactly when these units will be available or how many we’ll get, and we can’t promise we’ll have enough for everyone. We do know that it will be at least a few weeks before you can purchase.”

Even though Hewlett-Packard was the largest-selling computer brand in the U.S., the company decided it would no longer compete in the high-stakes, low-margin business of making hardware.

Marlene Somsak of HP tells ABC News the company has not set a price for the last-run TouchPads, and it hasn’t decided where they’ll be sold or whether there will be a limit on how many one person can buy. “This is just a limited run, using leftover parts,” she said. “And it’s just in the U.S.”

Copyright 2011 ABC News Radio


HP Slashing Prices of Discontinued TouchPad, Sending Buyers into a Frenzy

Hewlett-Packard/Palm(PALO ALTO, Calif.) -- After announcing it will end its involvement in tablet computers and smartphones, Hewlett-Packard slashed the prices of its TouchPad tablets, sending buyers into a craze over the weekend.

The company marked down the 16GB TouchPad to $99 and the 32GB version to $149 -- price reductions that amounted to $300 or more.

As a result, inventories of the tablet computer flew off store shelves fast.  HP's own website sold out of the TouchPad, as did Best Buy and other retailers.

Customers who are still looking to take advantage of the deal may be running out of luck.

HP spokeswoman Marlene Somsak told The Washington Post that the company would not be releasing any more of the discontinued tablets.  The company will, however, sell any that have already been shipped to stores.

The TouchPad was released on July 1 as HP's answer to Apple's iPad.  Back then, the 16GB version sold in the U.S. for $499.99, while the 32GB version was available for $599.99.

Copyright 2011 ABC News Radio


Hewlett-Packard's New Tablet Computer Hits Stores

Hewlett-Packard/ Palm(PALO ALTO, Calif.) -- Hewlett-Packard's competitor to Apple's iPad -- HP's TouchPad -- hits stores Friday.

The new tablet computer will run on software developed for Palm phones, and will feature a 9.7-inch screen along with a front-facing camera for video chats.  The TouchPad will also have have the capability of running Adobe Flash, setting it apart from its Apple counterpart.

The 16 GB version of the tablet is selling in the U.S. for $499.99, while the 32 GB version is available for $599.99.  The HP TouchPad will become available in other countries later in the year.

Copyright 2011 ABC News Radio


HP Veer 4G Hits Stores Sunday: 'Lets You Multitask...Plays Flash'

PRNewsFoto(NEW YORK) -- The first device to come out of of the HP Palm merger goes on sale Sunday.

The HP Veer is small but, the Wall Street Journal's Katie Boehret said, the phone's operating system is really what sets it apart.

"WebOS lets you really multi-task," she said. "You can very easily see all of your programs running at the same time. It plays Flash in the browser, which is something that Apple's operating system does not do . . . and webOS is really just designer focused.

"It's smooth, it's pleasing to use, it doesn't feel geeky," Boehret said.

The Veer costs about $100.

Copyright 2011 ABC News Radio´╗┐


Shakeups at Top of Google, HP

Photo Courtesy - ABC News(MOUNTAIN VIEW, Calif.) – Both Google and Hewlett-Packard Thursday announced major shakeups at the top of their ranks.

In a letter, Eric Schmidt, who has been the company’s CEO since 2001, announced that co-founder Larry Page will be the new CEO of Google.

“In this new role I know he will merge Google’s technology and business vision brilliantly,” wrote Schmidt. “I am enormously proud of my last decade as CEO, and I am certain that the next 10 years under Larry will be even better!”

The announcement came as part of the company’s new earnings announcements. Google reported revenues of $8.44 billion for the quarter that ended in December, an increase of 26 percent compared to the fourth quarter of 2009. They ended the year with a net profit of $2.54 billion.

In other shakeup news, Hewlett-Packard announced that ex-eBay chief Meg Whitman will be joining its board of directors.

Copyright 2011 ABC News Radio

ABC News Radio