HPE Stock Rises On Acquisition Of Supercomputer Maker Cray, AI Push
Summary
HPE stock edged up a fraction Friday after the company announced the $1.3 billion acquisition of Cray for $35 a share in cash. XIts the first big deal for HPE under Chief Executive Antonio Neri who took over as CEO from Meg Whitman in February 2018. As of Thursdays market close, HPE stock was down nearly 18% from a year ago. The Cray purchase will make HPE a strong rival to IBM, analysts say. Palo Alto, Calif.-based HPE will report results for its fiscal second quarter after the market close next Thursday.
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