Criminal Investigations Of HP Get Ugly But Sales Rise
The Russian and German investigations of potential bribes made by Hewlett-Packard Co (NYSE: HPQ) turned vicious today. German prosecutors are examining evidence that HP paid “about €8 million ($10.9 million) in bribes to win a €35 million contract under which the U.S.…
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The news is unlikely to have much effect on the stock price or senior management at HP because of the modest amount of the involved. The computer firm’s stock hit a 52-week high today at $54.64 up from a 52-week low of $33.40. Intel Corporation (NASDAQ: INTC) posted better-than-expected earnings which lifted the stocks of PC companies.
After hours, computer research firm IDC said first quarter PC sales grew 24% worldwide. HP led its competitors in global market share at 19.7%, well ahead of Acer at 13.6% and Dell Corporation (NASDAQ: DELL) at 13.3%.
Bribes or not, the HP machine is still a steamroller
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
