These 5 Stocks are Getting Hammered Today

3. HP Inc. (NYSE:HPQ)

Number of Hedge Fund Holders: 35

HP Inc. (NYSE:HPQ) posted weak sales for its fiscal third quarter and trimmed its profit outlook for the full year. As a result, its shares fell nearly 7 percent in the pre-market trading session today.

The provider of personal computers and related products earned $1.04 per share on an adjusted basis, up from $1 per share in the corresponding period of 2021. Revenue slid 4.1 percent on a year-over-year basis to $14.7 billion in the quarter. Analysts expected HP Inc. (NYSE:HPQ) to earn $1.03 per share on revenue of $15.6 billion.

HP Inc. (NYSE:HPQ) also released its segment-wise sales results. Revenue from its personal systems segment slipped 3 percent to $10.1 billion, while printing revenue decreased 6 percent to $4.6 billion in the quarter.

Looking forward, HP Inc. (NYSE:HPQ) now anticipates adjusted earnings in the range of $4.02 – $4.12 per share for the full year, down from its earlier guidance between $4.24 – $4.38 per share. The updated outlook is below analysts’ average estimate of $4.27 per share.