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News summary: HP issues upbeat guidance for 2014

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The Associated Press | October 9, 2013 04:41 PM EST | AP


HP UPBEAT: Hewlett-Packard Co. issued upbeat guidance Wednesday, saying revenue declines will stabilize in fiscal 2014 and net income, excluding special items, will come to $3.55 to $3.75 per share. The midpoint is 3 cents higher than the $3.62 analysts forecast.

SHAREHOLDER RETURNS: HP also said it plans to return at least half of its $6 billion to $6.5 billion in free cash flow next year to shareholders through dividends and share buybacks.

BACK STORY: HP has been trying to ease the pain of a declining PC market by cutting costs and focusing on more profitable areas.