Hewlett-Packard's Split Moved Its Shares Up on High Trading Volume
Shares of Hewlett-Packard rallied after the company announced it will separate into two publicly traded companies, making it TheStreet's Move of the Day.
California-based computer company Hewlett-Packard announced it will separate into two publicly traded companies. One will be called HP, Inc for its printers and personal computers. The other will be named Hewlett Enterprise, focusing on to its faster-growing hardware and services operations. Chairman and CEO Meg Whitman said these two separate companies will be more focused in a rapidly changing marketplace and help reshape the computer giant. HP has more than 300,000 employees and is looking to post $112 billion in revenue for the current fiscal year. HP is one the latest companies to spin off parts of its business to capitalize on faster-growing operations, amid shareholder pressure.
