HP CEO says recovery on track

Investor's Business Daily

Meg Whitman said the computer products and services giant's 5-year turnaround plan is ahead of schedule, but cautioned there's "a lot of heavy lifting ahead." Whitman's remarks in a CNBC interview pushed shares to a 52-week high midday. HP has seen revenue fall in its core PC and printer businesses, and it's trying to shift to network servers, storage and cloud-based computing. Research firm IDC confirmed HP's server sales are rising after the company earlier this year rolled out a new line of network servers. Shares rose 2.8%.

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