Tue. Nov 12th, 2019

HP Inc. announces new CEO, shares fall 5%

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HP Inc.

HPQ, -0.16%

shares fell 5% in the extended session Thursday after the PC and printer maker announced a new CEO and third-quarter results. Enrique Lores, who serves as president of HP’s $20 billion Imaging, Printing and Solutions business, will succeed Dion Weisler as CEO, effective Nov. 1. Weisler is leaving because of a family health matter, HP said. The Palo Alto, Calif.-based company rang up earnings of 58 cents a share. Revenue was flat at $14.6 billion. Analysts surveyed by FactSet had estimated net income of 55 cents a share on revenue of $14.62 billion. HP shares are down 7.6% this year. The S&P 500 index

SPX, -0.05%

has gained 16.6% this year.

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