HPE shares rise after activist Elliott Management takes $1.5 billion stake

Shares of Hewlett Packard Enterprise jumped nearly 5% after Elliott Investment Management built a more than $1.5 billion stake in the server maker, a person familiar with the matter told CNBC. The activist investor hopes to engage the company in discussions on how to improve shareholder value, the source said. Elliott and HPE declined to comment on the news. Shares of the data center equipment maker have lost more than a fourth in value this year. Last month, the company topped quarterly revenue expectations, but issued weak fiscal full-year guidance. HPE said it was grappling with higher discounting and expected price adjustments to weigh on its top-line growth. ... Read full article.