Packard Company (HP) cut its full-year outlook and reported profit of $2.3 billion, up from $2.2 billion in the same period a year earlier. Revenue climbed 3 percent to $31.63 billion, slightly above Wall Street estimates. But HP lowered its full-year profit forecast and slightly reduced its 2011 revenue range to between $129 billion and $130 billion. Shares of the company fell 7 percent. The U.S. dollar fell versus the euro but rose versus the yen. Light sweet crude oil for June delivery fell 46 cents to $96.91 a barrel on the New York Mercantile Exchange. Gold futures fell $8.10 to $1,482.50 an ounce. The Dow Jones industrial average fell 68.79, or 0.6 percent, to 12,479.58. The broader Standard & Poor's 500 index fell 0.49, or 0.04 percent, to 1,328.98. The technology-heavy Nasdaq composite index rose 0.9, or 0.03 percent, to 2,783.21.
