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HP CEO memo sparks early results release

Simon Quicke

Hewlett-Packard is taking the unusual step of releasing its financial results a day early after the contents of an internal memo from its CEO were leaked.

Leo Apotheker reportedly sent senior management a memo preparing them for the results that were due to be announced tomorrow warning them that it is going to be a tough quarter and urging them to watch the budgets and minimise spending.

As a result of the broad contents of that email coming out the vendor will report this afternoon rather than tomorrow to head off any potential uncertainty and damage to its share price.

Sales forecasts had already been lowered in March so the expectations on Wall Street were of lower revenues but against a backdrop of poor results from Cisco bad numbers from HP would cause further jitters around the leading tech stocks.

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