Activist investor Elliott Investment Management has taken a stake valued at over $1.5 billion in Hewlett Packard Enterprise, according to a report on Tuesday. HPE stock climbed amid the news.
On the stock market today, HPE stock advanced more than 5% to 15.04. Elliott has built up a stake in the maker of computer servers, networking equipment and data storage systems, Bloomberg reported.
With the gain, HPE stock has retreated 30% in 2025.
The Department of Justice in January filed a lawsuit to block HPE's $14 billion acquisition of Juniper Networks. The DOJ said that the companies' proposed transaction would eliminate competition, resulting in higher prices, reduced innovation and fewer choices for companies and consumers.
HPE and Juniper compete in the wireless LAN market versus Cisco Systems.
Meanwhile, HPE stock holds an IBD Composite Rating of 55 out of a best possible 99, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better.
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