Due to a leaked email from CEO Leo Apotheker, HP has brought forward its trading update due Wednesday. HP has essentially issued a profits and revenue warning blaming everything from the Japanese earthquake, slower PC shipments and a planned services overhaul. HP shares have dived in early trading - down c8% as I write.
It was the 23% dive in consumer PC revenues (who said the tablet would have little effect on PC sales?) and Apotheker's major criticism of HP chasing 'low margin' IT outsourcing work that really caught my attention.
More details later but thought you would like an early indication from the largest compnay in our SITS firmament.