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$HPQ said its GM fell by 0.7 percentage points for 1Q16 as compared to a year ago. The significant factors impacting gross margin performance were unfavorable currency impacts and a competitive pricing environment across LaserJet and Inkjet businesses. This was partially offset by favorable commodity costs, pricing and mix in Personal Systems.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.