Hewlett-Packard Gains Most in 3 Years on PC Shipment Jump
Hewlett-Packard Co. (HPQ), the world’s biggest personal-computer maker, rose the most in three years after researcher Gartner Inc. (IT) said the global PC industry unexpectedly grew in the first quarter as the company remained a market leader.
Hewlett-Packard, based in Palo Alto, California, advanced 7.2 percent to $25.10 at the close in New York, the biggest jump since March 2009. The stock, which has fallen 2.6 percent this year, was the fifth-best performer today in the Standard & Poor’s 500 Index.
The company accounted for 17.2 percent of worldwide PC shipments, Stamford, Connecticut-based Gartner said yesterday.
Total global PC shipments climbed 1.9 percent to 89 million units, after predictions of a 1.2 percent drop, according to Gartner. Another research firm, IDC, also reported a surprise increase for the quarter.
To contact the editor responsible for this story: Tom Giles at firstname.lastname@example.org