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Hewlett-Packard Down as Estimates Are Cut

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Hewlett-Packard

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was down 7.3% in early trading after

Goldman Sachs

lowered its first-quarter earnings estimate to 41 cents from 45 cents and its 2001 forecast to $1.85 from $1.95. Goldman said the move comes amid a slowdown in PC sales and concerns about reduced corporate spending on information technology.