HP stocks in slight recovery
Shares climbed 4.2%, company announces new consumer PC
Hewlett-Packard shares have made a slight 4.2% recovery after their 20% slump on Friday following the news that the company is likely to shed its consumer PC business.
The computer giant has also just launched a new desktop PC, following the announcement that sent stocks tumbling, according to Reuters.
The HP Compaq 8200 Elite All-in-One Business Desktop has been billed by HP as the the first all-in-one PC aimed at corporate and public sector customers.
The computer giant announced on Thursday that is was likely to shed the world's largest PC business as part of its plan to move away from the consumer PC business.
HP has recently been struggling in the PC market with low margins but high revenues as gadgets such as Apple's iPad have lured away consumers.
Shares of HP were valued at $24.59 in afternoon trading on the New York Stock Exchange, in a market that was broadly up.