WSJ reports on HP’s reported spinoff of the PC division.
- Associated Press
As if that weren’t enough, the world’s biggest computer maker also announced fiscal third-quarter earnings and lowered its financial targets for the rest of the year. H-P reported preliminary earnings of 93 cents a share on revenue of $31.2 billion, compared with a profit of 75 cents a share and $30.7 billion in revenue a year earlier.
In a release, the company said it was exploring a spinoff of its PC business as part of a plan to put an “emphasis on enterprise, commercial and government markets.” Expect plenty of questions from Wall Street analysts on that issue in H-P’s earnings conference call, which is set to begin at 5 p.m. Eastern. Digits will be there to live blog.
Bloomberg also reports.
HP Said to Plan Autonomy Purchase, PC Spinoff
Aug. 18 (Bloomberg) -- Hewlett-Packard Co., the world’s largest computer maker, is in talks to buy Autonomy Corp. for about $10 billion and plans to spin off its personal-computer business, people with direct knowledge of the matter said. Autonomy confirmed it is in talks with Hewlett-Packard in a statement. Cory Johnson reports on Bloomberg Television's "Fast Forward." (Source: Bloomberg)