Shares of Hewlett-Packard Company (NYSE:HPQ) surged in premarket trading on Wednesday as investors will obtain the chance to voice disappointment over the $8.8B write-down of Autonomy Corp. at what time they’re requested to re-elect Chairman Ray Lane and further directors at an annual meeting today.
Shareholder advisers have declared that the board failed to correctly vet the purchase of software maker Autonomy, and are suggesting that investors vote alongside Lane and several other members of the 11-person body.
Institutional Shareholder Services Inc. and Glass Lewis & Co. faulted the board for the write-down because of serious accounting rudeness and for depleting the stock’s value from side to side years of mismanagement.
The chief investment officer at Global Financial Private Capital LLC, Chris Bertelsen stated that it’s a real caution shot over the bend over. The board requires stepping back and hire the executives turn this thing around.
Coming to the stock performance in last Session; Hewlett-Packard Company (NYSE:HPQ) in last trading session end up at $23.11 by rising up 1.23% with traded volume of 33.87 million shares which is up the average volume of 26.44 million shares.
The stock price saw week’s volatility of 2.43% and month’s volatility is 2.85%, while the stock price of the company is moving up from its 20 days moving average with 15.29% and isolated positively from 50 days moving average with 29.06%.
Looking at Analytic Ratios; the price to sales ratio of HPQ in past twelve months was calculated as 0.38 and price to cash ratio as 3.57. Company return on equity ratio is recorded as -41.53% and its return on assets is -11.05%.
HPQ belongs to Technology sector. Yesterday Dow Jones U.S. Technology Index (STC) was at 755.70 with -0.26% change.