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HPQ jumps, HPE falls on day one after HP split

HP is betting that the split will help the two new companies compete better
HPQ jumps, HPE falls on day one after HP split
Investors speculated on printers and PCs instead of business technology, in the first trading day since the original HP company split up.

Hewlett-Packard Inc. (NYSE:HPQ) jumped about 12% on Wednesday, while Hewlett-Packard Enterprise (NYSE:HPE) fell in the first day since Hewlett-Packard Co. split up.

Shares of HP Inc., which sells printers and computers, rose 13% to $13.81 at 2:07 p.m. in New York, giving the company a market value of $24.8bn.

Meanwhile, shares of Hewlett-Packard Enterprise Co., which sells servers, storage devices and services, dropped 1.6% to $14.49, giving the firm a market value of $27bn.

HP is betting that the split will help the two new companies compete better in a fast-changing landscape for gear and services.

Shares of the original HP stock surrendered 33% this year through Friday. Revenue fell 8.1% to $25.3bn in its latest quarter, compared with analyst projections for $25.4bn, according to data compiled by Capital IQ. Sales have declined for 15 of the past 16 quarters.

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