Hewlett Packard Enterprise stocks rise amid hopes for future
- Published
(Close): Shares of the two newly split Hewlett Packard companies diverged after its last report as a consolidated company.
HP split into two separate companies in November - one focused on the printer and PC businesses and the other on corporate services.
Shares of Hewlett Packard Inc fell 4% while services focussed Hewlett Packard Enterprises rose 2.3%.
The Dow Jones gained 19 points to close at 17,812, after a bumpy start.
The S&P 500 rose 2 points to 2,079.22, while the Nasdaq gained 20 points to 5,102.
Hewlett-Packard's revenue fell 9.5% to $25.71bn in the fourth-quarter.
On a broader theme, concerns about global political tensions weighed on early trading after it was reported that Turkey had shot down a Russian warplane.
Stocks regained their footing, though on the back of news that the US economy grew faster than previously estimated in the third quarter of the year.
The Commerce Department said gross domestic product rose at an annual pace of 2.1% in the quarter, up from the 1.5% rate it reported last month.
Oil prices rose sharply on concerns that there could be more uncertainty in the Middle East.
Brent crude jumped by 2.5% or $1.14, to $45.97 a barrel, while West Texas Intermediate crude climbed $0.94 to $42.96 a barrel.
As a result, shares in oil firms rose, with Exxon Mobil up 2% and Chevron 1.5% higher.