Hewlett Packard Enterprise Turns Positive After Seeing Initial Weakness

(RTTNews) - After an initial move to the downside, shares of Hewlett Packard Enterprise Co. (HPE) have moved notably higher over the course of the trading session on Thursday. HPE has given back ground after reaching its best intraday level in nearly a month but remains up by 4.4 percent.

The advance by HPE comes after the enterprise hardware and software company reported fiscal fourth quarter results that exceeded analyst estimates on both the top and bottom lines.

After the close of trading on Tuesday, HPE reported fourth quarter adjusted earnings of $0.45 per share on revenues of $7.95 billion, while analysts had expected earnings of $0.43 per share on revenues of $7.84 billion.