HP moves up earnings report, stock shows jitters

May 16, 2011 - 8:58 PM

SAN FRANCISCO (AP) — Hewlett-Packard has abruptly moved up its quarterly earnings report by a day after a memo from CEO Leo Apotheker (AH-poh-thay-kehr) warning of "another tough quarter" leaked to the news media, sending the company's shares down.

The announcement late Monday highlights the urgent concerns weighing on the world's biggest technology company by revenue about its growth strategy and direction under new leadership.

HP was scheduled to report results for the February-April period Wednesday, but is now planning to release them Tuesday morning before the market opens.

The announcement came after reports surfaced that Apotheker warned his executives in a May 4 memo that HP was bracing for difficulty in the May-July period.