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...The five governing partners at HPS Investment Partners also spent time at Goldman, with chief executive Scott Kapnick running the investment bank from 2001-06....
...Silicon Valley companies including Cisco, HP and Oracle, as well as scores of start-ups, lined up to pitch ways to help retail....
...That group included such well-known names as Sears Holdings, JC Penney, HP Inc, CBS, Macy’s, Nordstrom, Motorola, IBM, Symantec, Xerox, Office Depot, VeriSign and Target Corporation....
...Shares in Kohl’s advanced 2 per cent to $35.19, Sears shares rose 1 per cent to $13.19, Macy’s shares climbed 2 per cent to $31.94 and shares in JC Penney rose 4.1 per cent to $8.35....
...HP’s third quarter sales rose 1 per cent to $27.6bn, up from $27.2bn a year ago. Analysts had forecast a fall in revenue to $27.0bn....
...HP’s networking business, for instance, took off when a bored young engineering manager started “digging around for something else to do”....
...On average, the cost of a cyber security breach to a company in the US is now $12.7m, up from $6.5m in 2010, according to an independent study of 257 organisations by the Ponemon Institute, sponsored by HP...
...Sales in the quarter to early August fell at the teen fashion retailers Abercrombie & Fitch and American Eagle, as well as the department stores JC Penney and Sears, where consumer caution aggravated busted...
...In after-market trading, shares in HP rose more than 10 per cent on news that the company’s earnings per share came in ahead of estimates....
...Shares in HP, which tumbled 12 per cent after the announcement, regained some ground during the subsequent session. They rose 4.2 per cent to $12.44 and weekly losses were pared to 3.2 per cent....
...Meg Whitman, HP’s chief executive, promised a multi-year turnround of HP’s large businesses, but analysts stressed the challenges....
...Sears Holdings rallied 25.3 per cent to $68.31, even as the department store chain reported a fourth-quarter loss of more than $2bn....
...IBM’s shares were up 3.6 per cent at $88.97 in afternoon trade, while HP also saw some benefit, rising 0.4 per cent to $30.24....
...HP is now trading at its highest level since the beginning of 2001. Chipmaker Advanced Micro Devices added 7.2 per cent to $24.20 after it was raised from a “hold” to a “buy” rating by Citigroup....
...HP’s rival Dell also nudged higher, rising 1.4 per cent to $23.95, ahead of the release of its quarterly earnings. Falling bond yields helped push homebuilders higher....
...Since the HP deal for Compaq was completed in May 2002, HP's stock has risen 28 per cent, compared with Dell's 64 per cent rise....
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