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Shares jump as sales rebound

Wednesday, Nov. 17, 2004 | 9:11 a.m.

Hewlett-Packard Co. shares had their biggest gain in two years today after the computer maker said fourth-quarter profit beat its forecast and Chief Executive Carly Fiorina said she's fixed mistakes in the server business.

Hewlett-Packard shares gained $1.05 to $20.73 at 9:49 a.m. in New York Stock Exchange composite trading. They earlier rose as high as $21.32 for the biggest gain since Nov. 21, 2002.

Net income climbed to $1.09 billion, or 37 cents a share, from $862 million, or 28 cents, a year earlier. Sales rose 7.7 percent to $21.4 billion.

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