News on Tuesday for HP, JPMorgan and Oracle

Hewlett-Packard Co. (NYSE:HP) - The Slate

Tuesday’s news includes HP looking to merge PC/printing, JPMorgan prevailing on a lawsuit, and Oracle prevails against the Street!

WallStNation.com Sponsors - Become one Today

Hewlett-Packard Company (NYSE:HPQ) CEO Meg Whitman plans to combine the computing giant's PC and printing divisions in a major internal overhaul intended to spur combined sales of hardware to customers, two sources familiar with the move told Reuters.  That reorganization, expected to be announced "soon," would see printing division chief Vyomesh Joshi step down and current PC chief Todd Bradley head up the combined unit, the sources said on condition of anonymity, because the information was not yet public. 

(Article continues below chart)

A federal appeals court dismissed a lawsuit seeking to hold JPMorgan Chase & Co (NYS:JPM) responsible for services allegedly provided by the former Washington Mutual Inc to advance a Ponzi scheme at Caribbean-based Millennium Bank.  The 9th U.S. Circuit Court of Appeals said on Tuesday that investors who bought fraudulent certificates of deposit from Millennium did not pursue all remedies with the Federal Deposit Insurance Corporation (FDIC) as required by federal law or show that JPMorgan did anything to advance the alleged fraud. 

(Article continues below chart)

Oracle Corporation (NASDAQ:ORCL) beat Wall Street's earnings estimates as new software sales came in at the high end of the company's forecast, offsetting a sharp drop in hardware revenue.  The software maker's stock rose 1.5 percent after the news, in sharp contrast to the sell-off three months ago when its second-quarter profit missed analysts' forecasts for the first time in a decade.


WallStNation.comThanks for visiting WallStNation.com, to assist your investing research try using our Search (click to access) or review the list of Tickers (click to access) that link directly to articles related to the given stock/security.

To Browse our Most Recent Stories (click here)


Share WallStNation.com Content

Share this article with others, WallStNation.com is the Independent Wall Street Newspaper. Thanks for Reading!

Daily Market Summary




Please Review the WallStNation.com Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details