As H-P (HPQ -1.9%) slumps due to Lexmark's warning, JPMorgan's Mark Moskowitz suggests the time is ripe for a breakup. Moskowitz, who has an Underperform on H-P, argues holding onto the struggling printing and PC businesses makes no sense if H-P is serious about focusing on value-added IT solutions. He also doubts H-P's restructuring will lead to higher profits, given investment needs, and thinks the July and October quarters could miss the Street's depressed expectations.