After two months of uncertainty, HP's ( HPQ) new CEO Meg Whitman has made her second decisive stamp on the world's largest computer maker in a month, by announcing the company will retain its division. HP announced on Thursday, after spending the last few months considering a spinoff of its computer business - that it was too important to overall revenue and the company's supply chain to be cut. "HP objectively evaluated the strategic, financial and operational impact of spinning off PSG. It's clear after our analysis that keeping PSG within HP is right for customers and partners, right for shareholders, and right for employees," explained HP CEO Meg Whitman, in a statement released after market close on Thursday. HP rose nearly 5% to $28.34 a share in early trading. The stock, which is down over 30% year to date and is one of the Dow Jones Industrial average's worst performer, has recovered over a quarter of its value since Whitman's CEO nomination.
|HP CEO Meg Whitman|