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Industrials

HP Pulls the Trigger on Realignment — Again (HPQ)

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By Paul Ausick Published
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In a move that was widely expected, Hewlett Packard Co. (NYSE: HPQ) this morning said that it would join its printing and imaging group with its PC group in a single division to be called the Printing and Personal Systems Group. The combined group has revenue of more than $65 billion. The head of HP’s new division is Todd Bradley, who previously ran the PC group.

HP CEO Meg Whitman killed an announced plan by her predecessor to sell the company’s PC group shortly after she took over the company last September. Tying the two groups together undoes the split orchestrated by then-CEO Mark Hurd in 2005. Carly Fiorina had put the two together shortly before she was replaced by Hurd.

HP shares are up about 0.6% at $23.98 shortly before the market opens this morning. The stock’s 52-week range is $21.50-$43.28.

Contact [email protected] for any questions or corrections.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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