HP Ends Dual Listing, Sticks With Big Board MOVERS MARKETPLACE By Bloomberg
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By Connie Guglielmo  Hewlett-Packard, the world's biggest maker of personal computers, said it would withdraw its shares from the Nasdaq Stock Market to reduce its listing fees.
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Catching up to Google, Yahoo unleashes a desktop search tool  Also: IBM makes move in data storage market & hellip;.  HP makes cheap computer with rural Chinese appeal & hellip;. and more.
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By Therese Poletti, San Jose Mercury News, Calif.  SJ-0523-Hewlett-Packard-settles-with-SEC   Hewlett-Packard settles with SEC   Therese Poletti  San Jose  Mercury News, Calif.
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(InfoWorld) - Heading toward the end of a better-than-expected year for IT, the good news this week was that there were no big surprises when Hewlett-Packard, Cisco Systems, and Advanced Micro Devices laid out strategies at investor and analyst conferences. While IT product prices, especially in hardware sectors like chips and some types of networking equipment, have been under pressure, tech vendor sales have been strong generally. The Nasdaq Composite Index, home to a broad range of publicly traded IT companies, crossed 2400 in November and has remained at that level, after opening the year at 2244. Tuesday's U.S. Federal Reserve decision to leave rates unchanged, and a much better-than-expected report on retail sales Wednesday stoked markets overall. On Thursday the Dow Jones Industrial Average hit a new intraday high of 12427.17, and the Nasdaq surged by 21.44 points to close at 2453.85. AMD gave assurancesÂ Thursday at an analyst meeting in New York that its $5.4 billion merger with graphics chip maker ATI will result in greater-than-expected cost savings in 2007, and $80 million to $160 million in incremental revenue. This caused AMD shares to jump by $2.54 to close at $22.71. The company also stressed that it expects a revenue boost from Microsoft's Vista OS release. The company in OctoberÂ announced fourth quarter resultsÂ that beat analyst estimates, but there were concerns about profit margins. The challenge for AMD is to keep a lid on costs and continue to successfully challenge Intel, especially with quad-core products in 2007. At HP's meeting in New York Tuesday, Chief Financial Officer Robert Wayman said thatÂ the company is forecastingÂ fiscal 2008 revenue between $101 billion and $103 billion. The high side of that is slightly higher than the consensus analyst forecast of $102 billion, according to Thomson First Call. It was reassuring but not exciting, at the tail end of a great year from HP (despite theÂ board spying scandalÂ that cost Chairman Patricia Dunn her job in September). The day of the analyst meeting, HP shares (HPQ) closed at $39.83, down by $0.18. But HP's announcement with MicrosoftÂ on WednesdayÂ helped spark investor interest. The deal calls for the companies to work on a range of business software products to the enterprise market, including business intelligence software. HP closed Thursday at $39.91, up $0.19 for the day. At Cisco's C-Scape conference for analysts this week in San Jose, California the company stressed themes that it had hit earlier this year. The company says it will sustain double-digit growth through the rest of the decade by incorporating data, voice, video and mobile capabilities -- its "quadruple play" -- across product lines. This week, the companyÂ focused on the consumer sideÂ of the equation, spotlighting itsÂ merger with set-top box maker Scientific-Atlanta, and also its Linksys consumer gear. Cisco plans to maintain its stronghold in the enterprise while continuing to grow in the consumer market. By the second day of the conference, Cisco shares (CSCO) were up $0.14 from its close Monday. In the current upbeat climate, reassurances from IT heavyweights about the next few quarters could be enough to boost IT investor confidence into the new year.
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(InfoWorld) - IT investors had a mixed bag of news to digest this week, in the wake of Hewlett-Packard Co.'s boardroom spy scandal, and Xerox Corp.'s annual pilgrimage to New York to woo the Wall Street crowd. It's a measure of HP Chief Executive Officer Mark Hurd's success so far that the company has not been harder hit by theÂ boardroom spy scandal, in which outside investigators hired by the board used allegedly illegal means to spy on employees, board members and reporters. In order to smooth things over, Hurd will replace Dunn in January and retain his CEO title. The spying was sparked by leaks to the press, which ironically included information on discussions that led to the firing of former CEO Carly Fiorina. It's ironic because under Hurd, the company's takeover of Compaq Computer Corp. -- a controversial acquisition engineered by Fiorina -- seems to be paying off. Hurd has reorganized the company to cut costs, and HP is gaining PC market share and growing almost as fast as its archrival in that market, Dell Inc. Since HP is much larger than Dell, that growth is remarkable. Much of it is the result of reorganized company logistics, supply-chain management, inventory control, as well as a continued push on the product front. The spy scandal has not implicated Hurd, and that's a good thing. Company shares did take a hit after Tuesday's disclosure by the California state attorney general on The NewsHour with Jim Lehrer that he had enough evidence to charge HP officials. Still, shares (HPQ) closed Thursday at $36.25, about where they were right before the scandal broke last week. The share price is still up 3.12 percent for the month and 31.81 percent for the year. As long as Hurd is not implicated in the scandal, the company seems poised to continue its run, even if Dunn or other board members are indicted. Of the seven major brokers changing their recommendations on the company this year, all but one have been to upgrade their recommendations -- the one exception was before the scandal. Meanwhile, HP's archrival in printers, Xerox, is having a hard time gaining traction in the market. The company made its annual pitch to Wall Street last week in a series of product and services rollouts. The consensus among analysts appears to be that CEO Anne Mulcahy is making all the right moves: slimming down the company, integrating and expanding services, keeping up pressure on rivals in the small and medium-size business market, and keeping its lead on the high-end production market. But share price was not affected by her pitch to Wall Street. Shares (XRX) closed Thursday right where they were on the last day of her pitch last Friday, at $14.90. "The strategy is there, but Wall Street wants to see more growth," noted IDC analyst Keith Kmetz. Various competitors including Asian manufacturers have "nibbled away" at the low end of the market, Kmetz said, but Xerox still has a command position in the production market and is strong in the market for office color printing and multifunction devices. Only HP can claim to rival Xerox in the full scope of products and services. But growth is tepid. Xerox second quarter revenue rose to $3.98 billion from $3.92 billion last year. The message from company executives appears to that Xerox will be able to achieve growth rates experienced by HP as services grow nearer to 50 percent of company revenue. But as Mulcahy told IDG, "whether that will be in three, or five years, I can't say."
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Just five months after its &#36;19 billion acquisition of Compaq Computer Corp. gave Hewlett-Packard Co. the No. 1 ranking in worldwide personal computer shipments, a new batch of market numbers delivered some stomach-turning news to HP &amp;#151; rival Dell Inc. had just snatched the top spot right back.
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This looks like the *real* beginning of the end for Itanium. The workstation market is two-fold. There are those that use workstations for computing tasks (scientific, visualization, whatever) and those that
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Hewlett-Packard Co. HPQ.N will be  under pressure to sell its personal computer business after  IBM's decision to sell its PC operations to China's top PC  manufacturer, but analysts said the No. 2 computer maker would  hold on to its $25 billion PC division for now.
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(InfoWorld) - It's been a busy Monday for Hewlett-Packard as the company announced not one, but two proposed purchases. Somewhat overshadowed by theÂ $1.6 billion HP is forking overÂ toÂ acquire datacenter automation specialist Opsware,Â is the $241 million the vendor is offering for Neoware. Publicly traded Neoware provides Linux- and Windows-based thin-client computing devices as well as thin-client and virtualization software. HP's keen to use Neoware to expand its existing thin-client business. "Our objective is to become the preferred brand of thin clients and software for virtualized client computing," said Kevin Frost, vice president of business desktops with HP's personal systems group, in a release. HP's offer values Neoware at $16.25 per share. Neoware's shares ended trading Friday at $15.24 and by midday Monday were trading up 3.7 percent at $15.81. Subject to shareholder approval, the acquisition is set to close in the fourth quarter of calendar 2007. On becoming part of HP, Neoware will be incorporated into the vendor's business desktop unit of its personal systems group. Neoware's partners include ClearCube Technology, IBM, Microsoft, and VMware. Publicly traded Neoware has its headquarters in King of Prussia, Pennsylvania as well as offices in Europe and Asia. Â
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HP (NYSE:HPQ)(Nasdaq:HPQ) today announced that Patricia Dunn, chairman of the board and director, has resigned, effective immediately.     Statement from the HP board of directors:  "Pattie Dunn has been a valuable director of HP for many years.
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Hewlett-Packard has dropped plans to add a number of technologies acquired in its purchase of Compaq Computer to its flagship HP-UX operating system, and will instead partner with Veritas Software on new file system and clustering capabilities.
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HP (NYSE:HPQ) (Nasdaq:HPQ) today announced that it has refreshed its entire line of HP Integrity servers -- adding the most powerful models to date -- to drive down the cost of business-critical computing for customers.
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HP (NYSE:HPQ) (Nasdaq:HPQ) today unveiled large-format printing technologies that offer commercial printers more choices and value when producing wide- and super-wide outdoor graphics.
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Hewlett-Packard Co.'s (HP's) board of directors has approved a severance package including $3.7 million in stock options for its general counsel, who resigned Thursday amid a growing scandal into HP's conduct during an investigation into board leaks.
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Printer and PC maker Hewlett-Packard Co.  will stop offering desktop workstations based on Intel Corp.'s  Itanium microprocessor, The Wall Street Journal reported on its online edition.
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(InfoWorld) - Hewlett-Packard Co.'s (HP's) board of directors has approved a severance package including $3.7 million in stock options for its general counsel, who resigned Thursday amid a growing scandal into HP's conduct during an investigation into board leaks. Ann BaskinsÂ resigned Thursday just before a U.S. Congress subcommittee hearing on HP's investigation methods, including investigators pretending to be reporters or board members to gain access to their personal telephone records and other data. That practice is often called pretexting. During the hearing, former HP Chairwoman Patricia DunnÂ told lawmakers that Baskins had repeatedly told her the year-long investigation was done legally. HP filed a form with the U.S. Securities and Exchange Commission (SEC) Thursday saying it would provide Baskins with a compensation package, including the option to sell her outstanding stock options, worth nearly $3.7 million, by Nov. 22. Baskins will also have access to the vested portion of her retirement account at HP and to other benefits. If she accepts the package, she will give up any claims against HP and its employees, according to the SEC document. Baskins declined to testify before the subcommittee, citing her right to not testify against herself. Members of the Oversight and Investigations subcommittee of the House Committee on Energy and Commerce hammered HP officials Thursday for investigators who allegedly lied to gain access to others' personal records, for attempting to trace the e-mail of a reporter and for following reporters and board members. Representative Ed Markey, a Massachusetts Democrat, also questioned why HP was giving Baskins a "golden parachute" after Dunn identified her being one of the internal leaders of the leak investigation. "Do you think that's appropriate?" he asked Dunn. Dunn,Â who resigned from the HP board Sept. 21, said she was not a part of the board discussion to approve Baskins' severance package. She would have to hear the discussion before deciding if it was appropriate, she said. Baskins worked for HP for 24 years and served the company well before the recent questions, Dunn said. "She bled HP blue," Dunn said. "She made some mistakes."
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(InfoWorld) - Hewlett-Packard has agreed to acquire IT services company Knightsbridge Solutions Holding for an undisclosed sum. Knightsbridge helps to design IT architectures for managing large volumes of data. It specializes in helping clients to deploy technologies for business intelligence, data warehousing, and data integration. The company has 700 employees. Based in Chicago, it has offices in London and throughout the U.S. HP expects to close the deal in about 30 days subject to closing conditions. Knightsbridge will become part of its HP Services organization. HP recentlyÂ completed its $4.5 billion acquisition of Mercury Interactive. OtherÂ recent HP acquisitions include OuterBay, which makes database archiving software.