Why HP Stock Just Sank 10%

$1 billion in layoffs and restructuring costs “helped” to tank this stock. What happened Last night after close of trading, HP (NYSE:HPQ) stock (that’s the tech stock you used to know as Hewlett-Packard) issued new guidance for fiscal 2020. HP stock is down 10.2% in response as of 11:05 a.m. EDT…so you can probably guess…

Why HP Stock Just Sank 10%

$1 billion in layoffs and restructuring costs “helped” to tank this stock.

What happened
Last night after close of trading, HP (NYSE:HPQ) stock (that’s the tech stock you used to know as Hewlett-Packard) issued new guidance for fiscal 2020. HP stock is down 10.2% in response as of 11:05 a.m. EDT…so you can probably guess that the news wasn’t good.
So what
So what exactly did HP say?
The headline news is that HP expects to earn between $1.98 and $2.10 per share in 2020, as calculated according to generally accepted accounting principles (GAAP). Relative to the
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