Shaky start for HPE as HP Inc shares soar

Two new HP companies traded separately for the first time yesterday

Hewlett Packard Enterprise (HPE) had a shaky start on the stock exchange yesterday as HP Inc shares soared.

The duo traded separately on the New York Stock Exchange for the first time yesterday after what was once HP legally split. The companies had been operationally separate since the summer, but Monday marked the formal divorce.

According to Reuters, HP Inc's shares rose as much as 14.4 per cent, while HPE's slumped as much as 5.8 per cent.

HP Inc focuses on personal systems and printing, while HPE is concerned with storage, servers and infrastructure. The firms' channel partners praised the separation and said splitting up is the best way forward for the company.

In a blog post on LinkedIn, Meg Whitman - who was HP's CEO but is now chief executive of HPE and chairman of the HP Inc board - said the split was the beginning of a "new adventure".

"On the surface, not a lot about my job is changing - I still work in the same building, I have the same cubicle (yes, all HPE executives sit in cubes), and I'm lucky to have many of the same great team members around me," she said.

She described the process of splitting up HP as "no small task" but said focusing on HP's values - such as being committed to partnering - helped.

"We believe in the power of collaboration, and taking time to build strong relationships with your customers, partners and employees," she said. "If your partners are successful, you're successful. Our transparency and proactive communication over the past year has united our employees, built trust among our customers and partners, and helped all of our stakeholders understand the benefits of the separation."