NEW YORK (
) -- Employees apparently
. The company he worked at for five years
out and now wants to
. He even had to
But oh boy does Wall Street love Mark V. Hurd.
How much, you ask? About $6.74 billion in unconditional investor love.
On Tuesday, when rival
and tennis buddy Larry Ellison said Hurd was joining the company, Oracle shares jumped 6%, boosting Oracle's value by $6.74 billion.
Pretty rich right?
Well, just month earlier he was worth $8.5 million to
, proving that unlike a fine Malbec, Hurd's value doesn't have a great shelf life. Investors sold HP stock when Hurd unexpectedly left HP for violating the company's trust and ethical standards.
Hewlett-Packard's board decided it needed to distance itself from Hurd's ethical malfeasance, and on Friday, August 6 they pitched him out. By the end of regular trading Monday, HP had fallen 8%, making Hurd's immediate departure from HP worth an eye-bulging $8.5 billion in market value lost.
Happy to see him go but not happy that he's going to a rival, HP claimed that Hurd will violate his trade secrets agreement. HP filed a lawsuit to block Hurd's move to a $11 million job at Oracle Tuesday.
quickly fired back, saying HP will lose a valuable business partner if the company sticks with its lawsuit.
Hurd appeals to investors with his hunger to add revenue through acquisitions and slash costs through firings. It's
that runs counter to Silicon Valley's tech innovation culture, but in the five years he was at HP, the stock outperformed PC sector peers like
For now, Hurd has at least one friend and the stock market on his side. But the street isn't known for its loyalty. Any hitch to his move to Oracle could quickly erase that $6.74 billion in unconditional love.
--Written by Scott Moritz in New York.
>To submit a news tip, send an email to: