Shares of Hewlett-Packard Company (NYSE:HPQ) plummeted on Tuesday following the firm declared that it would take an $8.8 billion asset-impairment charge due to serious accounting improprieties tied to its purchase of software company Autonomy Corp.
H-P shares dived about 12 percent to close at $11.71 the stock’s lower level since October 2002 as the revelation offset quarterly results that were usually in line with anticipations, although the firm’s present-quarter view came in appreciably below expectations.
ISI Group experts Brian Marshall downgrades his rating on H-P’s stock to neutral from purchase, and in a research note exhausted little time blasting H-P’s continuing business shocks.
Hewlett-Packard Company (NYSE:HPQ) traded at $11.71 by plunging -11.95% with price volatility of 4.11% for a week and 3.04% for a month plus price volatility’s Average True Range for 14 days was 0.51 and its beta stands at 1.07 times.
Stocks after opening at $11.64 hit high price of $12.06 and on last session stock held volume of 154.73 million shares which was unexpectedly higher than its average volume of 25.16 million shares.
Short-term as well long term investors always focus on the liquidity of the stocks so for that concern, liquidity measure in recent quarter results of the company was recorded 1.12 as current ratio and on the opponent side the debt to equity ratio was 0.94 and long-term debt to equity ratio remained 0.76. The Company had total cash at hand $9.53 billion and a book value per share as $16.07 in the most recent quarter.
While investors who viewing HPQ against other stocks with the reference of profit margin that are International Business Machines Corp. (NYSE:IBM) having profit margin 15.53%, Teradata Corporation (NYSE:TDC) with 15.59% profit margin, Cray Inc. (NASDAQ:CRAY) having 55.05% profit margin and Silicon Graphics International Corp (NASDAQ:SGI) having profit margin of -3.97%.
