Reuters Photojournalism
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption
Afghan army recruit
A look at an Afghan recruit as he goes through the process of joining the Afghan National Army. Slideshow
INSTANT VIEW: Reaction to HP deal
NEW YORK |
NEW YORK (Reuters) - Hewlett-Packard Co unveiled a $12.6 billion deal to buy Electronic Data Systems Corp, and posted better-than-expected quarterly results.
Shares of EDS jumped 27 percent Monday on news the two companies were close on a deal, while HP shares slid 2.5 percent.
HP shares fell 2.2 percent in pre-market trade on the news Tuesday.
COMMENTS:
MATT MCCALL, PRESIDENT PENN FINANCIAL GROUP, DENVER,
COLORADO:
"Why this is good for HP? They are getting EDS which I think it's a pretty good company for a pretty beaten down stock price. If you look at EDS stock chart, it's been beaten down for years. For HP, it's a strategic deal for them.
"We're going to start seeing more, I believe, of these strategic deals where it's not private equity coming, but it's big companies, such as Microsoft trying to go after Yahoo, who have cash on their books and see beaten down stock prices. And just like investors, (they) should be taking advantage of that." (Reporting by Ellis Mnyandu)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters