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This is an archive article published on November 19, 2008

HP shares soar after solid 4Q outlook

Hewlett -Packard says it expects fiscal fourth-quarter results above Wall Street's expectations despite the bad economy.

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Hewlett -Packard says it expects fiscal fourth-quarter results above Wall Street8217;s expectations despite the bad economy.

The news is sending the company8217;s shares up sharply in premarket trading.

The Palo Alto, Calif.-based technology company said Tuesday its global reach, diverse customer base and cost-cutting measures are helping it weather the economic downturn.

Hewlett-Packard expects earnings of 84 cents per share for the quarter, or 1.03 per share on an adjusted basis, on revenue of 33.6 million.

 

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