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08 Aug

HP braces for huge loss after $8 billion EDS writedown

A view of the Hewlett Packard headquarters in Palo AltoBOSTON/NEW YORK (Reuters) - Hewlett Packard Co warned of a mammoth quarterly loss after writing down $8 billion on the value of its services business, most of which it acquired four years ago with its $14 billion purchase of EDS. The world's largest computer maker also plans to replace its head of services, a vast but sluggish division that new CEO Meg Whitman wants to reshape into a stronger competitor to the likes of IBM. …



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