HP's slumps deepens in 2Q as earnings fall 32 pct

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In this Aug. 21, 2012 photo, the Hewlett-Packard Co. logo is seen outside the company's headquarters in Palo Alto, Calif. Hewlett-Packard Co. reports quarterly financial results after the market closes on Wednesday, May 22, 2013. (AP Photo/Paul Sakuma)

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HP's slumps deep... In this Aug. 21, 2012 photo, the Hewlett-Packard Co. logo is seen outside the company's headquarters in Palo Alto, Calif. Hewlett-Packard Co. reports quarterly financial results after the market closes on Wednesday, May 22, 2013. (AP Photo/Paul Sakuma)
First Look: New ... A group of visiting journalists try out the improved motion-detecting capabilities of the new Kinect controller for Microsoft's next-generation Xbox One entertainment and gaming console system, Tuesday, May 21, 2013, in Redmond, Wash. The new Kinect, which will come standard with the Xbox One can also see users in total darkness and has a wider field of view than the previous Kinect device in use with the Xbox 360. (AP Photo/Ted S. Warren)
The new consoles... An audience member photographs the stage at the unveiling of Microsoft Corp.'s next-generation Xbox One entertainment and gaming console system, Tuesday, May 21, 2013, in Redmond, Wash. (AP Photo/Ted S. Warren)
Apple case seen ... Apple CEO Tim Cook testifies on Capitol Hill in Washington, Tuesday, May 21, 2013, before the Senate Homeland Security and Governmental Affairs Permanent subcommittee on Investigations as lawmakers examine the methods employed by multinational corporations to shift profits offshore and how such activities are affected by the Internal Revenue Code. Lawmakers want to know the tax strategy of how Apple, the world's most valuable company, based in Cupertino, Calif., holds a billion dollars in an Irish subsidiary as a tax strategy, according to a report issued this week by the subcommittee. (AP Photo/J. Scott Applewhite)
Sony mulls hedge... Sony President and CEO Kazuo Hirai speaks during a press conference at the Sony Corp. headquarters in Tokyo, Wednesday, May 22, 2013. Hirai said the company's board will discuss a proposal by U.S. hedge fund manager Daniel Loeb to spin off up to 20 percent of its movie, TV and music division. (AP Photo/Itsuo Inouye)
Restaurant learn... This Monday, May 20, 2013 photo shows Amy's Baking Company in Scottsdale, Ariz. After a particularly ugly TV experience, Amy's is fighting back and trying to raise awareness for cyber-bullying. They are doing this after they cursed out critics of their TV experience on their Facebook page. The restaurant temporarily closed down their Scottsdale restaurant after the “Kitchen Nightmares” episode aired. (AP Photo/Matt York)
Microsoft touts ... Kareem Choudhry, left, development manager for Microsoft Corp.'s Kinect motion-sensing device for the Xbox, demonstrates the level of detail in the camera of the new Kinect for the next-generation Xbox One entertainment and gaming console system to a visiting journalist, right, during a demonstration, Tuesday, May 21, 2013, in Redmond, Wash. (AP Photo/Ted S. Warren)
Google unveils m... Sundar Pichai, senior vice president, Chrome and Apps at Google, speaks about the 900 million android users at Google I/O 2013 in San Francisco, Wednesday, May 15, 2013. (AP Photo/Jeff Chiu)
Icahn, Southeast... FILE - Dell founder Michael Dell, left, in a Jan. 26, 2011 file photo, and Carl Icahn, in an Oct. 7, 2007 file photo, are seen in a combination photo. Dell's largest independent shareholder has teamed with activist investor Icahn in another challenge to Michael Dell's $24.4 billion bid to take the struggling computer maker private. Southeastern Asset Management and Icahn said in a letter sent Thursday, May 9, 2013 to the Dell Inc. board that they want to let shareholders keep their stock and give them either $12 per share in cash or additional shares in a deal that keeps the company publicly traded. An investment group led by Michael Dell offered earlier this year to pay $13.65 per share in a deal that would take the company private. Southeastern and Icahn criticized that proposal in a scathing letter to Dell's board outlining their latest offer. (AP Photos/Dell-Virginia Mayo, Icahn-Mark Lennihan)
High-tech pushes... FILE - In this Feb. 2, 2011 file photo, Sen. Orrin Hatch, R-Utah speaks on Capitol Hill in Washington. High-tech companies looking for an immigration bill to solve their shortages of workers skilled in mathematics and science press for more concessions this week through Hatch. Democrats desperately need his support to give the legislation a chance. Some liberal Democrats, however, say the bill already gives too much to Silicon Valley. (AP Photo/Jacquelyn Martin)
Should we let wu... Yahoo CEO Marissa Mayer, and Tumblr Chief Executive David Karp speak during a news conference Monday, May 20, 2013, in New York. Yahoo edged up 31 cents, or 1.2 percent, to $26.83 after the Internet company said it was buying online blogging forum Tumblr for $1.1 billion. (AP Photo/Frank Franklin II)