My new HP laptop will not read my printer cd which is a Lexmark X4800.

It is possible that you have a bad CD, or that there is some conflict between the CD and the CD drive.
The best thing to do is forget about the CD and go to Lexmark's website and download the latest driver for your printer. This is what I do with new devices--I don't even try to use the CD.

Best of luck,
WallyH