Any views on where this stock might be headed?
Its already down by 250 from its high of just a few weeks back and if i knew anything about charts,WHICH I DON,T,maybe it is time to cash a few in

Hewlett-Packard to cut 27,000 jobs by the end of 2014

The company said the cuts - about 8% of its workforce - will reduce costs by up to $3.5bn (£2.2bn) a year.

HP said in a statement that the money would be reinvested into the company.

The move was part of a "productivity initiative designed to simplify business processes" and comes as rival products such as the iPad tablet computer eat into HP's sales.

As part of the changes, the head of HP's Autonomy division, Mike Lynch, is being replaced by Bill Veghte, HP's chief strategy officer. Mr Lynch will leave after what HP called a "transition period".

H-P posts loss on Autonomy charge

SAN FRANCISCO (MarketWatch) – Hewlett-Packard on Tuesday reported a fiscal fourth-quarter loss of $6.85 billion, or $3.49 a share, compared with a profit of $239 million, or 12 cents a share, for the year-earlier period. Revenue was $29.96 billion, down from $32.12 billion. Adjusted profit was $1.16 a share. The company’s results included an $8.8 billion asset impairment charge related to H-P’s Autonomy business. Analysts were expecting the Palo Alto, Calif.-based company to report adjusted earnings of $1.14 a share, on revenue of $30.44 billion, according to a consensus survey of analysts by FactSet. H-P shares were down 7% in pre-market trades.

Peston of the BBC on latest news:

http://www.bbc.co.uk/news/business-20413318

Something stinks here.

HP shares are down 9.5% after being down @14% at the open.

Skinny ask their auditors Deloittes and KPMG.

Deloittes sell themselves as having a strong Fraud & Advisory team!

Lynch, non-exec BBC director, not responding to Peston (yet)!

Just had a read here Fraud and Accounting Investigations

I wonder what their fees were!

Skinny Deloitte audit BLNX as well.

I would have thought the Lynch/BLNX connection was what was made earlier.

Lynch has around 6% shareholding in BLNX , Autonomy has 12% shareholding in BLNX as at August 2012.

I do hope this isn't true - I used to quite admire him and Autonomy for that matter.

Skinny hope is a fine thing Lynch OBE according to his directorship profile in the BLNX annual report is also on the board of the BBC.

UBS trader sentenced to 7 years, hope UBS are paying for his keep in prison and not us taxpayers?

Autonomy misled HP about finances, Hewlett Packard says

From the above article :-

Mike Lynch told BBC News that the HP allegations were just a way of distracting attention from poor results.

"It's managed the company very badly," he said. "It lost around half the staff before I left and the whole of the management team, and the value of the company has now fallen and they've been forced to write it off."

"Today is the day they're announcing the worst results in the 70 year history of the business and I think there's a little bit of distraction going on here."

This reads like a financial institutional rogue's gallery!

In HP-Autonomy debacle, many advisers but little good advice

Wed Nov 21, 2012 3:52am GMT

(Reuters) - When Hewlett Packard acquired Autonomy last year for $11.1 billion, some 15 different financial, legal and accounting firms were involved in the transaction -- and none raised a flag about what HP said Tuesday was a major accounting fraud.

HP stunned Wall Street with the allegations about its British software unit and took an $8.8 billion writedown, the latest in a string of reversals for the storied company.

All these financial institutions involved seems to suggest that the old adage still applies. That is to say " too many cooks spoil the broth !"

.

HP’s Accounting Claims Are Seen as Cover for Bad Deals

Hewlett-Packard Co.’s (HPQ) claims of financial improprieties at Autonomy Corp. have accounting experts questioning whether the allegations are an attempt to divert attention from yet another bad acquisition.

Mike Lynch points out, that in the economic downturn, HP axed a great many of Autonomy's top staff. It can hardly be a surprise, therefore, that their performance was sub par.+