SAN FRANCISCO (AP) — HP Inc. is losing the chief executive who has been leading the personal computer maker since it broke off as a separate company four years ago.
The Palo Alto, California, company says CEO Dion Weisler will step down from the job Nov. 1 because of an undisclosed family issue. He will be succeeded by Enrique Lores, who currently oversees an HP division that includes its highly profitable business of selling ink for the company's printers.
Weisler joined HP in 2012 and became CEO in 2015 when the company split is PC and printer operations from its businesses specializing in business software. That part is now known as Hewlett Packard Enterprise and was run by former California gubernatorial candidate Meg Whitman until her departure from that post last year.
HP's shares fell 6% to $17.72 in extended trading Thursday after the news of Weisler's impending departure came out. The reaction, however, may have been driven by the release of HP's financial results for its fiscal third quarter and outlook for the current three-month period ending in October.
The company's earnings for the past quarter exceeded analyst estimates that steer investor expectations, but HP's guidance might lag analyst projections for the current quarter.
12 Cheap Dividend Stocks to Buy Today
The markets are off to a strong start this year and major markets are trading at near all-time highs. The Dow is hovering around 30,000 and the S&P 500 is trading near 3,300. S&P 500 stocks are trading at nearly 25 times their annual earnings, well above historical norms.
At the same time, interest rates are near all-time lows. 10-year Treasuries are yielding just 1.8% and collectively S&P 500 stocks are yielding under 2%. Some investors think that it's too challenging to find safe and affordable securities that pay 4%, 5%, and even 6% yields.
Searching for yield isn't easy in an environment where high asset prices have driven down dividend yields, but there are a few meaningful options to find yield. With interest rates slowly beginning to rise, investors have found dividend stocks slightly less attractive. This has created a small group of cheap dividend stocks to buy, many of which have yields twice as large as the 10-year Treasury.
Let's review some of the best cheap dividend stocks in the market today in this slideshow.
View the "12 Cheap Dividend Stocks to Buy Today".