HPE Plunges Most Since 2020 on Weak Profit Outlook, Job Cuts (2)

Hewlett Packard Enterprise Co. fell the most since 2020 after it said profit in the coming year would be hurt by tariffs, weak margins on server sales and execution issues. The company also said it would eliminate about 3,000 jobs.

Earnings, excluding some items, will be $1.70 to $1.90 per share in the fiscal year ending in October 2025, HPE said Thursday in a statement. Analysts, on average, estimated $2.12 a share.

The shares dropped 12% to $15.81 at the close Friday in New York, the biggest single-day decline since March 2020. The stock has plunged 26% this year. ...