Hewlett-Packard Announces Recall of Over 1 Million Fax Machines Due To Fire and Burn Hazards

Hewlett-Packard (NYSE:HPQ) issues a voluntary recall of 928,000 HP fax 1040 and 1050 machines in th eU.S. and 240,000 of the same machines in Canada and Mexico. The fax machines can overheat due to an internal electrical component failure, posing fire and burn hazards.Hewlett-Packard is aware of seven reports of fax machines overheating and catching fire, resulting in property damage, including one instance of significant property damage and one instance of a minor burn injury to a consumer’s finger. Six incidents were reported in the U.S. and one in Canada.Hewlett-Packard (NYSE:HPQ) has potential upside of 8% based on a current price of $28.59 and an average consensus analyst price target of $30.88.

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