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Leaked memo shows Hewlett-Packard CEO jitters
Stock Market News |
2011/05/16 08:51
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A leaked memo from Hewlett-Packard Co. CEO Leo Apotheker warning of "another tough quarter" underscores the urgent concerns about the technology heavyweight's growth strategy and the challenges facing its new leader.
Reports of the May 4 missive from Apotheker to his top executives surfaced late Monday, sending HP shares tumbling. HP abruptly moved up its earnings report to Tuesday morning. It had originally been scheduled to Wednesday afternoon.
The jitters reflect investors' anxiety about what is essentially a classic big-company problem -- with a twist.
HP is struggling to find ways to meaningfully boost sales without chasing bottom-feeder deals that eat away at profits. It's a code that many analysts believe HP hasn't cracked.
This as the 72-year-old company is recovering from the trauma of the management scandal that brought about the sacking of Apotheker's predecessor, Mark Hurd, in August, and led to the replacement of a third of HP's board. The boardroom purging was unusually severe for a company HP's size, and the turmoil reinforced a perception among many technology watchers of dysfunction in the top ranks of a Silicon Valley institution.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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