Hewlett-Packard Shares Drop on Poor Outlook

10 percent fall in shares. Probably still not as bad as California's economy, though.

Hewlett-Packard has warned its underperforming business will get worse before it gets better, issuing an outlook below analyst expectations and prompting a 10 per cent fall in its shares.

"I believe that all of this is fixable, but it's going to take some time," Meg Whitman, chief executive, told HP's analyst day in San Francisco on Wednesday as she detailed the company's shortcomings and fleshed out a five-year turnround plan.