A Touch Off (NYSE: HPQ)

NEW YORK - HP, one of the largest technology companies in the world, headquartered in Palo Alto, California reported its Q1 2011 results after the closing bell yesterday. Shares have moved 11% lower in early trade.

HP said that earnings per share increased 26% year over year with $1.17 a share from $0.93 and the company raised its full year guidance to $4.46 to $4.54. Net revenue came in at $32.3 billion which was a 4% increase. Leo Apotheker the new incumbent CEO of HP said "Going forward, we have the opportunity to further capitalize on our customers' demands for higher value-added solutions,"

The company estimates EPS of of $0.99 to $1.01 in Q2 2011.