HP says it won't spin off personal computer unit

PALO ALTO, California (AP) ? Hewlett-Packard Co. says it has decided against spinning off or selling its Personal Systems Group unit.

The PC manufacturer said Thursday that it reached its decision after evaluating the strategic, financial and operational impact of spinning off the business unit, which manufactures desktop and notebook computers for consumers and businesses.

Hewlett-Packard President and CEO Meg Whitman said keeping the unit within the company is right for the company, its customers, shareholders and business partners.

Shares of Palo Alto, California-based HP added $1.24, or 4.8 percent, to end regular trading at $26.99.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2011-10-27-Hewlett-Packard-PC%20Unit/id-661acb5bc8f2489badae3d254343fb0c

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