HP beats the Street in Q2; confirms plans to cut 27,000 jobs as Q3 guidance misses
Hewlett-Packard on Wednesday reported its second-quarter earnings that beat Wall Street’s expectations. Analysts expected the computer giant to report revenue of $29.92 billion and earnings of $0.91 per share, but the company surprised analysts when it reported earnings of $0.98 per share on sales of $30.69 billion. HP also confirmed new restructuring plans that will involve 27,000 job cuts, or 8% of the company’s workforce, and it expects to save more than $3 billion as a result. “We are making progress in our multi-year effort to make HP simpler, more efficient and better for customers, employees, and shareholders,” said Meg Whitman, HP president and chief executive officer. “This quarter we exceeded our previously provided outlook and are executing against our strategy, but
A Heart Made of Face Parts; The Eating Depression Cycle Explained
Discovered: A medical procedure that turns your face into your heart, why overeating causes depression and depression causes overeating, the fall of the Mayan empire explained, and men's mistakes count more.
Jury: Google didn't infringe on Oracle patents
A federal jury ruled Wednesday that Google didn't infringe on Oracle's patents when the Internet search leader developed its popular Android software for mobile devices.
NetApp's rev forecast below estimates, stock drops
SAN FRANCISCO (Reuters) - Data storage equipment maker NetApp Inc forecast revenue below expectations as concerns about the economy weighed on the outlook for business and government spending on information technology, sending its shares down 22 percent in after-hours trade. NetApp's report Wednesday came a day after Dell Inc posted disappointing quarterly results that heightened concerns about cautious IT spending, sending tech stocks sharply lower. Sunnyvale, California-based NetApp posted fiscal fourth-quarter revenue of $1.70 billion compared to $1.43 billion in the year-ago period. ...
Web series touts funky concept snowboards
In the summer of 2010, Signal Snowboards created the Web series "Every Third Thursday" to showcase the company's experimentation with funky concept boards. Think Science Channel’s “How It’s Made” — except with a lot more sass and a funkier setting.
HP to lay off about 27,000, eyes over $3 billion savings
SAN FRANCISCO (Reuters) - Hewlett Packard Co outlined a plan on Wednesday to lay off roughly 27,000 employees or about 8 percent of its workforce to jumpstart growth. The layoffs, which will be mainly achieved through early retirement offers, will generate annual savings of $3 billion to $3.5 billion as it exits fiscal 2014, the company said. The world's No. 1 personal computer maker, which employs more than 300,000 people across the globe, also reported a 3 percent decline in quarterly revenue. ...
