Hewlett-Packard Down as Estimates Are Cut

Hewlett-Packard

(HWP)

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.