Information provided by Theflyonthewall.com Hewlett-Packard
shares plunged 11% to a 10-year low after the company recorded a $8.8 billion write-down "linked to serious accounting improprieties, disclosure failures and outright misrepresentations" related to its purchase of U.K. software company Autonomy.
Almost lost in the scandal were H-P's results, as its quarterly earnings beat expectations but its view for profit next quarter trailed Wall Street estimates.
) earnings fell short of lowered expectations, its same-store sales declined 4.3% and the company lowered its free cash flow view by almost a half a billion dollars, sending shares down 12%.
In the financial sector, JPMorgan
) announced a new chief financial officer and Credit Suisse
) said it will combine its asset management unit with its private bank resulting in a simplified corporate structure with only two arms.
Among the notable gainers was Green Mountain Coffee Roasters
), which rose 6% after it named former Coca-Cola
) executive Brian Kelley as its new CEO.
Also higher were shares of Krispy Kreme
), up 22% after its Q3 results topped expectations.
Among the noteworthy losers were Cliffs Natural Resources
), down 9% following a downgrade to Sell at Goldman, and Patterson Companies
), down 7% after the company lowered its FY13 EPS view.