HP Rings in New Company and New Stock Symbol at NYSE Ceremony
NEW YORK CITY and PALO ALTO, Calif., May 06, 2002 (BUSINESS WIRE) -- May 6, 2002- With the ceremonial ringing of the bell to open the New York Stock Exchange, HP's NYSE account team accompanied by HP Chief Executive Officer Carly Fiorina this morning celebrated the completion of the company's merger with Compaq Computer Corp. and the first trading day of the combined company's new NYSE symbol, HPQ.
Fiorina rang the bell remotely from HP headquarters in Palo Alto and was assisted by the members of the new HP's NYSE service and support account team who were on the bell podium at the exchange. HP and Compaq closed the merger on May 3 and the trading of Compaq's stock was suspended before the opening of the market today. HP will officially launch the new company at a series of worldwide employee events Tuesday.
Fiorina said it was appropriate that one of the new HP's first official acts was at the site of one of its longstanding and largest customers -- the New York Stock Exchange. The NYSE has been a customer for more than 20 years and runs its trading systems on infrastructure from the merged company.
"The NYSE processes nine billion transactions per day," said Fiorina. "Reliability and availability of their computing infrastructure is essential to their daily operations and the reason they partner with the new HP. I cannot think of a better place for us to ring in the new company than with one of our best customers.
"We are pleased to inaugurate our new HPQ ticker symbol by recognizing the dedication that our service and support teams bring to the NYSE every single day," Fiorina said. "These folks personify HP's commitment to customer success."
About HP
HP is a leading global provider of products, technologies, solutions and services to consumers and businesses. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. The merged company had combined revenue of approximately $81.7 billion in fiscal 2001 and operations in more than 160 countries. Information about HP and its products can be found at hp.com.
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