HP Shares Rise as Elliott Takes Major Stake, Plans to Push for Better Shareholder Value

Shares of Hewlett Packard Enterprise rose 4% after Elliott Investment Management acquired a stake worth over $1.5 billion, according to CNBC. The activist investor aims to engage with the company to improve shareholder value. HPE shares have fallen over 25% in 2024, weighed down by concerns over price discounting and soft full-year guidance despite beating quarterly revenue estimates. Elliott Investment Management recently took a large stake in Aspen Technology and nominated board members at Phillips 66, which also holds a major investment.