HP to CUT 29K Jobs by 2014 and 3 Morning Hot Stocks Turning Heads

September 10, 2012

The latest 10-Q by H-P (NYSE:HPQ) reveals the company plans to cut 29,000 jobs by the end of FY14 as a part of its restructuring and may incur charges of $3.7 billion related thereto. The company has more that 349,000 employees on its rolls.

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Kodak (EKDKQ.PK) announces that its focus on commercial packaging and printing would lead to a reduction in its work force by a thousand heads by the end of the year. Also, CFO Antoinette McCorvey and co-President and COO Philip Faraci will leave the company, effective January.

Brown Shoe (NYSE:BWS) acquires the Sam & Libby footwear brand from The Jones Group (NYSE:JNY). “We feel very strongly that this brand belongs with Sam and Libby, the people who created it,” said Diane Sullivan, president and CEO of Brown Shoe Company.

Barron’s calls Tesoro’s (NYSE:TSO) purchase of a refinery in California from BP for $1.175 billion last month “the acquisition of the year.” Shares of Tesoro trend higher.

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