Hewlett Packard Sinks After Announcing New CEO (HPQ)

Shares of Hewlett-Packard Company HPQ are sinking in the after-hours trade by 3.02%, trading at $40.80. The stock closed the regular session at $42.07, off 1.08% on the day. Hewlett Packard announced after the bell that Leo Apotheker, the former chief executive of SAP AG SAP, would become its new CEO, effective the first of November. Mr. Apotheker spent more than 20 years at SAP, presiding over a period of robust growth, where it delivered 18 consecutive quarters of double-digit growth. "Leo is a strategic thinker with a passion for technology, wide-reaching global experience and proven operational discipline--exactly what we were looking for in a CEO," said Robert Ryan, H-P's lead independent director. Hewlett-Packard Company is a global provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises, including customers in the government, health and education sectors. Wondering how Benzinga's Chief Options Strategist is playing HPQ? Click here to find out…