Hewlett-Packard removed from index amid PC slump
The exit, announced as part of the biggest reshuffling of the index since Apr 2004, delivers another blow to chief executive Meg Whitman’s quest to revive growth at the storied PC maker.
HP’s shares have declined for three straight years as consumers abandon PCs for smartphones and tablets. Whitman last month scrapped her forecast for a return to revenue growth in 2014 as lacklustre demand for hardware and services, and aggressive price cuts amplify the impact of the downturn for computers.
