H-P (HPQ) is down 1.2% post-earnings (I, II); FQ4 results beat estimates, but FY12 guidance was...


H-P (HPQ) is down 1.2% post-earnings (I, II); FQ4 results beat estimates, but FY12 guidance was soft. Weakness in high-margin areas such as printing supplies (-14% Y/Y) and high-end servers (-23%, thanks to ORCL's abandoning of Itanium) are weighing on EPS. Moreover, CC comments about "competitive pricing" and cost increases, to go with expected remarks about macro uncertainty, might be troubling investors.

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