Jim Cramer Breaks Down HP’s Latest Moves

HP Enterprises decision to spin off and merge its business-services division with Computer Sciences Corp. in a deal valued at $8.5 billion for HPE shareholders is a 'win-win for everybody.'
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HP Enterprises (HPE) - Get Report decision to spin off and merge its business-services division with Computer Sciences  (CSC) in a deal valued at $8.5 billion for HPE shareholders is a 'win-win for everybody' says TheStreet's Jim Cramer. Shares of HPE are up almost 10 percent while Computer Sciences shares are soaring by 34 percent to almost $50 on heavy trading volume today as the Tysons Corner, VA-based global IT provider announced its merger with Hewlett Packard Enterprise on Wednesday. The company's merger with Hewlett's IT services businesses is expected to produce cost synergies of about $1 billion in the first year.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.