Hewlett-Packard

(HWP)

was down 6.5% in preopen

Instinet

trading. After the close Thursday, the company met Wall Street's lowered earnings estimate of 37 cents for the first quarter but reported that revenue came in short of forecasts.

The computer company earned 40 cents per share a year earlier. The consensus revenue estimate was $12.4 billion, but H-P said its top line rose just 2% to $11.9 billion. In addition, H-P said it saw no near-term growth in its U.S. PC business.