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| Carly Fiorina, one of the most powerful women in corporate America, who was ousted as Hewlett-Packard CEO. |
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NEW YORK (CNN/Money) -
Wall Street was buzzing after news broke Wednesday that Hewlett-Packard CEO Carly Fiorina got ousted by the company's board.
But reactions from analysts, fund managers and market strategists ranged from positive and opportunistic to uncertain. Here are a few of the analysts' comments on Fiorina's departure, as reported by Reuters:
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"This is big news. This is a good step forward for Hewlett-Packard. With her departure, the company will look forward to having new leadership ... so the market is looking at this as a positive for stocks, especially the tech sector," said John Person, president of National Futures.
"This is a good move for the company. I would say there will be a boost to employee morale, because internally people had become frustrated, certainly within the printing division," said Shannon Cross, an analyst at Cross Research.
But "there is obviously going to be uncertainty which is never a positive as you wait to see who is going to be the new CEO, and that will add a level of uncertainty to the stock," she added.
"Whenever there is a change of some significance, it always presents an opportunity for competitors to make inroads. When a visible leader departs for unknown reasons, that always gives customers a reason to pause and provides an opportunity for its competitors to take advantage," according to John Patrick, president of Consulting Firm Attitude L.L.C. and a former IBM executive.
"The fact that everything is back on the drawing board, with respect to partitioning the printer business, makes the stock more attractive," said Richard Chu, an analyst for SG Cowen.
"This is a change in strategy because I think Carly very much personified the strategy that the company had embraced in the past several years. With her departure, it signals to me that they've elected to take a whole new course of action," said Peter Sorrentino, chief investment officer for Bartlett & Co., Cincinnati.
"It will impact the Dow but on broader basis it won't do much to the market. I think there are much bigger factors today such as the semiconductor index above its 200-day moving average and it faces some cautious comments out of Merrill," said Marc Pado, market strategist for Cantor Fitzgerald & Co.
The news sent shares of HP (up $1.38 to $21.52, Research) higher in active trading on the New York Stock Exchange.
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