10 Firms End Stronger on Tuesday

7. Hewlett Packard Enterprise Company (NYSE:HPE)

Shares of Hewlett Packard grew for a third straight day on Tuesday, adding 5.11 percent to close at $15.01 apiece following news that hedge fund Elliott Investment Management acquired more than $1.5 billion in the company.

Elliott, one of the largest hedge funds, now ranks among the information technology company’s biggest investors and is working on an unidentified initiative amounting to $20 billion.

In the first quarter, Hewlett Packard Enterprise Company (NYSE:HPE) said net income attributable to shareholders rose by 54 percent to $598 million from $387 million in the same period a year earlier, as revenues rose 16 percent to $7.854 billion from $6.755 billion year-on-year.

Analysts expected the company to post $7.8 billion in revenues or $0.50 per share, as against Hewlett Packard Enterprise Company (NYSE:HPE)’s $0.49 recorded EPS.

Looking ahead, Hewlett Packard Enterprise Company (NYSE:HPE) estimates revenues to be in the range of $7.2 billion and $7.6 billion.