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
TheStreet Open House

HP Gains on Big Data Initiatives

NEW YORK (TheStreet) - Hewlett-Packard (HPQ), the technology and computer maker, extended its 2013 advance to 75% as CEO Meg Whitman said the Palo Alto, Calif.-based company is ahead of its turnaround target.

HP (HPQ) gained 2.8% to close at $24.91.

Hewlett-Packard is rebuilding its businesses and reputation after a series of management changes and questionable deals led most prominently by the 2011 acquisition for the U.K. enterprise search firm Autonomy at a cost of $11.7 billion. HP later said Autonomy was rife with misinformation, and the transaction ended up negating much of the company's profits.

Since taking over HP in September 2011, Whitman has shifted the company's strategy, investing in research and development in an effort to raise sales after seven consecutive quarters of losses. One example is the product called "HP SMB IT" aimed at helping small- and medium-sized businesses find information solutions. The program builds on Google's (GOOG) cloud-based collaboration tools by simplifying customers' IT situation and increasing productivity with minimal setup.

HP SMB IT in a box is HP's foray into Google's App Reseller program, and is the newest HP-Google collaboration. HP already has several products that operate on Google's Android and Chrome systems, specifically the HP SladeBook x2, HP Slate7, and the HP Chrome book. The product is expected to be released in July.

The focus on software marks a shift towards Big Data. Such products are believed to generate $23.8 billion by 2016. Big Data analyzing software has garnered $11 billion this year, according to market researcher IDC. Such software is needed by businesses of all sizes, universities, government agencies, the healthcare sector and more.

"Together with HP's channel partners, we will offer our customers an incredible bundle of PCs, printers and Google Apps for Business, enabling business owners to focus on their customers instead of worrying about IT." said Ron Coughlin, HP's senior vice president and general manager of Consumer PCs and Solutions. HP is still committed to creating hardware but is looking to bundle these products with the software in packages aimed at catering to business needs.

Written by Robert Arenella in New York

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,067.56 -30.89 -0.18%
S&P 500 2,002.28 -1.09 -0.05%
NASDAQ 4,598.1880 +17.9170 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs