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Here's Why HP Stock Soared Today — Tech Roundup


It seems that many technology investors still favor the "old-fashioned" legacy businesses, which include desktop and laptop computers, and printers.

Shares of HP (HPQ - Get Report) soared by 13% Monday on the company's first trading day as a public corporation after the original 76-year-old HP was split into two entities on Sunday. The new HP will contain the company's PC and printer businesses. It will be led by CEO Dion Weisler.

The second company, Hewlett Packard Enterprise (HPE) , saw its shares drop by 1.6% on Monday. Hewlett will be an enterprise company selling storage, servers and services to businesses. It will be led by CEO Meg Whitman, who previously ran the entire company.

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Each company is expected to have annual revenue of about $50 billion, the New York Times reported.

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Whitman announced the split on Oct. 6, 2014. She also said at the time the...