Company Profile: Hewlett-Packard is one of the world's leading computer makers. The company provides technologies, software and services to consumers and businesses.Paulson's Investment: The hedge fund grabbed 25 million shares of HP during the first quarter, a position worth $1 billion as of March 31. Shares of HP are down 5% this year, and has become a favorite of value investors as the stock trades at less than 7 times next year's earnings, a steep discount to the broader market. Shares fell hard late Monday after multiple reports that chief executive officer Leo Apotheker circulated a letter on May 4 saying HP is in for "another tough quarter" and stressing the necessity of "watching every penny." >>To see these stocks in action, visit the Paulson's 10 Best New Investment Ideas portfolio on Stockpickr. -- Written by Robert Holmes in Boston.
>To contact the writer of this article, click here: Robert Holmes. >To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet. >To submit a news tip, send an email to: firstname.lastname@example.org.