Tech Company Stocks In Q1: Who Gained? Who Lost?
Submitted by Rick Whiting on
Lenovo Group
CEO: Yang Yuanqing
Dec. 30, 2016:$12.00
March 31, 2017:$13.12
Change: +9.33%
Lenovo has been hit hard by the worldwide slowdown in PC sales in recent years and increased competition from Dell, Hewlett Packard Enterprise and other data center system vendors.
In January the top ranks of Lenovo's executive team were roiled by the departure of Gerry Smith, chief operating officer and head of the company's PC and mobile device businesses, to become CEO of Office Depot.
In March the company hired former Intel executive Kim Stevenson as senior vice president and general manager of the data center group.
In February Lenovo reported that in its fiscal 2017 third quarter (ended Dec. 31) revenue was $12.17 billion, down 6 percent from $12.91 billion in the same quarter one year earlier. Net income plunged 67 percent to $98 million from $300 million one year before.