Friday September 23, 2011

HP Stock Hits 6yr Low After Whitman Named CEO

Ouch! That's not much of a vote of confidence, is it? Well, you have to give HP credit for establishing the "CEO-for-a-year-and-get-a-multi-million-dollar-severance-package-when-you-are-fired" trend. big grin

Hewlett-Packard Co.'s stock sank Friday to its lowest level in six years, as investors worried that new CEO Meg Whitman isn't the right person to turn the company's fortunes around. The stock was down 90 cents, or 4 percent, at $21.90 in midday trading. In the morning, the stock hit $21.50, its lowest level since May 2005. Broader market gauges were up slightly after a week of volatile trading.

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