Markets

HPE CEO Meg Whitman stepping down

HPE CEO Meg Whitman stepping down

HPE's shares were trading at the rate of $13.28 on Wednesday.

The CEO of HPE, Meg Whitman, has announced that she will leave the firm after a turbulent six years, during which she led a four-way split of one of Silicon Valley's original companies. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Finally, Royal Bank Of Canada dropped their target price on Hewlett Packard Enterprise from $20.00 to $15.00 and set a "sector perform" rating on the stock in a research report on Wednesday, September 6th. BidaskClub upgraded shares of Hewlett Packard Enterprise from a "sell" rating to a "hold" rating in a report on Monday, August 14th.

"The company has also sought to strengthen its remaining businesses with a handful of acquisitions, including the $1.1 billion purchase this year of Nimble Storage, a start-up and a leader in the fast-growing market for so-called flash storage", the NYT's Lohr points out.

Whitman previously served as president and chief executive officer of eBay, overseeing its growth from a $4 million company into an $8 billion revenue business. "Uber's CEO will not be Meg Whitman", she had tweeted. The stock was sold at an average price of $13.67, for a total value of $3,404,144.41. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Hewlett Packard Enterprise's dividend payout ratio is presently 371.48%. The Stock now has a Weekly Volatility of 2.30% and Monthly Volatility of 1.99%. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued. If you are reading this article on another publication, it was illegally copied and reposted in violation of worldwide copyright and trademark legislation.

Since the breakup, Palo Alto, California-based HPE has furthered its transformation, spinning off a big chunk of its business software line-up a year ago in an $8.8 billion deal with Micro Focus International PLC.

Bloomberg Technology's Gerrit De Vynck and Natalie Wong observe that "since 2009, 19 female CEOs of Standard & Poor's 500 companies have stepped down".