Hewlett-Packard shakeup drives down stock - WMC Action News 5 - Memphis, Tennessee

Hewlett-Packard shakeup drives down stock

(CNN) - A shakeup at Hewlett-Packard sent shares of the company's stock plummeting Friday morning.

As news broke that HP was looking to spin off its consumer PC business, shares sank to their lowest levels since August 2005.

In total, the company's stock tumbled 23 percent in early trading.

The sharp decline also came as HP decided to kill its TouchPad tablet - a product launched just one month ago.

Instead of these ventures, HP will place its focus on software, servers and corporate technology services.

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