Wednesday, May 25, 2016
#TheStreet: Jim Cramer Breaks Down HP’s Latest Moves
Published on 25 May 2016
HP Enterprises decision to spin off and merge its business-services division with Computer Sciences Corp. in a deal valued at $8.5 billion for HPE shareholders is a "win-win for everybody", said TheStreet's Jim Cramer. Shares of HPE are up almost 10% while Computer Sciences shares are soaring by 34% to almost $50 on heavy trading volume today as the Tysons Corner, VA-based global IT provider announced its merger with Hewlett Packard Enterprise. The company's merger with Hewlett's IT services businesses is expected to produce cost synergies of about $1 billion in the first year.