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HP ditches costly PC unit spin-off

SAN FRANCISCO (Reuters) – Hewlett-Packard Co ditched a plan to spin off its personal computers unit, a month after the ouster of CEO Leo Apotheker whose idea would have cost billions of dollars in expenses and lost business. New Chief Executive Meg Whitman, who replaced Apotheker, had vowed a quick…

HP shares plunge 20 percent on Wall Street

Hewlett-Packard shares plunged 20 percent on Wall Street after the world’s top personal computer maker announced a dramatic strategic shakeup that includes spinning off its PC business. Shares in HP lost 20.03 percent Friday to close at $23.60, wiping more than $12 billion off the Palo Alto, California-based firm’s market…