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Hewlett-Packard stock falls as stronger dollar hurts earnings

Meg Whitman is the CEO of Hewlett-Packard.Associated Press/File 2012

Saying a rising US dollar will hurt its results, Hewlett-Packard Co. forecast profit that would trail estimates. The stock fell the most since August 2013. Profit in the quarter ending in April will be 84 to 88 cents a share; analysts projected 95 cents, on average. For fiscal 2015, expect $3.53 to $3.73 a share, HP said, short of a $3.95 estimate. The company gets two-thirds of its sales overseas, and the strong dollar is making its products more expensive abroad. Also, cloud computing is chipping away at its sales of storage gear.