HP ( HPQ) announced this week it would be restructuring its operations, merging its printer and PC divisions. The Imaging and Printing Group (IPG) and the Personal Systems Group (PSG) will become one unit, under the jurisdiction of Executive Vice President Todd Bradley. Vyomesh "VJ" Joshi, who was in charge of Imaging and Printing, is retiring after 31 years with the company. "This combination will bring together two businesses where HP has established global leadership," said HP CEO Meg Whitman, in the press release. "By providing the best in customer-focused innovation and operational efficiency, we believe we will create a winning scenario for customers, partners and shareholders." Shares of HP closed up 60 cents, or 2.61%, at $23.63 on Friday.
Accenture ( ACN) reported better-than-expected second-quarter earnings and raised guidance on Thursday, as revenue from consulting and outsourcing continue to be strong. Excluding items, Accenture earned 97 cents a share, up from 75 cents a share in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for earnings of 86 cents a share. Revenue came in at $6.8 billion, comfortably above the $6.6 billion estimate from Wall Street. Accenture said it now expects full-year earnings to be between $3.82 and $3.90 a share, 6 cents higher than its prior range for a profit of $3.76 to $3.84 a share. For the third quarter, Accenture expects revenue between $7.05 billion and $7.25 billion. Analysts polled by Thomson Reuters are looking for third-quarter sales of $7.02 billion. Shares of Accenture gained $1.36, or 2.14%, to close at $64.88 on Friday.