Hewlett-Packard Bounces on Guidance

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Hewlett-Packard

(HWP)

bounced off a 52-week low of $30.50 in early afternoon after affirming its revenue and earnings estimates for 2001. The computer and printer company said revenue should grow 15% to 17% next year, and it's comfortable with the Street's first-quarter earnings projection of 44 cents per share. The company said the U.S. PC market is softer than expected, but Thanksgiving week sales exceeded year-ago levels.