This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

HP Strategy Meeting: Live Blog

NEW YORK ( TheStreet) -- HP (HPQ - Get Report) CEO Leo Apotheker rolled out his long-term strategy for the tech giant on Monday during a meeting with analysts and press at San Francisco's Yerba Buena Center for the Arts.

Despite speculation about a possible reorganization, the new HP chief did not discuss any restructuring efforts during his keynote, instead focusing on cloud computing and mobile connectivity.

The former SAP (SAP) chief explained that HP will be offering a portfolio of cloud services. "The opportunities in the cloud are extraordinary, and we are positioned to lead with our portfolio," he said, explaining that HP will provide both cloud infrastructure and cloud "platforms" for developers.

Apotheker also said that that HP will offer an open cloud "marketplace" combining both a consumer app store and a catalog for enterprise applications and services.

On the connectivity side, the HP CEO said that the tech giant could potentially sell 100 million devices a year running the WebOS operating system. HP will soon launch its TouchPad tablet and new smartphones running WebOS, although Apotheker explained that the operating system will eventually encompass PCs and even printers.

"WebOs is an unbelieveably attractive & stunning technology," he said, during a press conference that followed the keynote.

A beta version of WebOS running on a PC will be available by the end of the year, he said. "You will see us start putting that technology on Windows PCs from that point onwards," added the CEO.

HP CFO Cathie Lesjak also shared the spotlight with Apotheker, explaining that HP's board has authorized a 50% increase in the firm's quarterly dividend, which is rising to 12 cents a share.

HP shares were up slightly, gaining 31 cents, or 0.75%, to reach $41.80 after market close.

-- Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
HPQ $28.00 0.68%
IBM $145.05 1.66%
AAPL $112.34 4.29%
FB $89.89 3.05%
GOOG $614.34 2.77%

Markets

Chart of I:DJI
DOW 16,351.38 +293.03 1.82%
S&P 500 1,948.86 +35.01 1.83%
NASDAQ 4,749.9790 +113.8740 2.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs