(Bloomberg) -- The new companies created with the split of Hewlett-Packard Co. rose early Monday in their inaugural trading day, a promising start as they embark on their separate ways.
Hewlett Packard Enterprise Co., which sells servers, storage devices and services, climbed 2.4 percent to $15.07 at 9:55 a.m. in New York. That gave it a market capitalization of about $28 billion. HP Inc., which sells printers and computers, climbed 9.8 percent to $13.44, leaving it with a market value of about $25 billion.
Meg Whitman, who drove the separation as chief executive officer of the legacy company, is betting that a split will help the companies compete better in a fast-changing landscape for gear and services. Now, resources and time can be focused on a smaller group of businesses and more narrow markets.
The split, after months of preparation, took place Sunday. Whitman is the CEO of Hewlett Packard Enterprise and chairman for HP Inc., which is led by Dion Weisler.
Shares of the original Hewlett-Packard stock fell 33 percent this year through Friday. Revenue fell 8.1 percent to $25.3 billion in its latest quarter, compared with analyst projections for $25.4 billion, according to data compiled by Bloomberg. Sales have declined for 15 of the past 16 quarters.
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