shares slumped lower in pre-market trading following a series of sales by billionaire investor Warren Buffett's Berkshire Hathaway investment group late last week.
That followed sales of around $160 million, or 5.5 million shares, over the two-day period that ended on September 13, all of which have reduced Buffett's stake to around 11.2%. Late last month, HP lowered its full-year profit forecast by as much as 15 cents per share, to a new rate of between $3.30 and $3.35 per share, following a muted third quarter earnings report that included a near 10% decline in revenues linked to ongoing weakness in China and cautious corporate IT spending plans.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: