Is the Executive Shuffle a Reason to Buy Hewlett-Packard?

After the bell, Hewlett-Packard landed on the trader radar after the company announced the departure of two other senior officers as a major management shakeup continues under new Chief Executive Leo Apotheker.

Meanwhile, Ann Livermore, who runs HP's enterprise business, has been elected to the HP board and will step down from her day-to-day management of the division, the company said on Monday.

HP also said all customer-facing business units -- including software, sales, servers and storage-- will now report directly to Apotheker.

Apotheker, who took the helm in September, is under pressure to show a visible turnaround at HP, which trimmed its sales forecast for the second straight quarter last month.

HP is seeing a lot of churn among its executives as Apotheker brings in new executives and tries to revamp the company and move into new markets such as tablet computers.

Among the latest to leave the company are Pete Bocian, executive vice president and chief administrative officer, and Randy Mott, executive vice president and chief information officer.

Others who have left recently include Tom Iannotti, who ran the services business, and former head of networking unit Marius Haas.

Is the executive shuffle a reason to buy H-P?

Karen Finerman doesn’t expect the management changes will do anything to convince investors that the stock is attractive. “The company will have to execute and show good numbers for that to happen,” she says.

Although Guy Adami finds valuations compelling, he sees no fundamental catalyst as a reason to get into this stock.

Trader Steve Grasso adds “I don’t see any real money coming into this stock.” He says stick with what’s working such as health care or utilities.

If you’re looking to play the space here’s what the traders suggest:
Grasso – Apple
Terranova – Apple, IBM
Adami – Oracle ahead of earnings

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Trader disclosure: On June 13, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Grasso Owns (AKS); Grasso Owns (AMD); Grasso Owns (ASTM); Grasso Owns (BA); Grasso Owns (BAC); Grasso Owns (C); Grasso Owns (D); Grasso Owns (HOV); Grasso Owns (JPM); Grasso Owns (LIT); Grasso Owns (LPX); Grasso Owns (MHY); Grasso Owns (NDAQ); Grasso Owns (PFE); Grasso Owns (PRST); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm And Finerman Own (MSFT); Finerman Owns (UNG); Finerman Owns (USO); Finerman's Firm Owns (HPQ), (HPQ) Puts; Finerman's Firm Owns (YUM); Terranova Owns (VRTS); Terranova Owns (IBM); Terranova Owns (AAPL); Terranova Owns (CAT); Terranova Owns (BX); Terranova Owns (HPQ); Terranova Owns (MA); Terranova Owns (PEP); Terranova Owns (MCD); Terranova Owns (TM); Terranova Owns (DAR); Terranova Owns (BJ); Terranova Owns (XOM); Terranova Is Short (DELL); Nathan Owns (LNKD) Put Spreads; Nathan Owns (GOOG) Put Spreads; Nathan Owns (AAPL) Put Spreads; Nathan Owns (BBY) Puts

For Steve Grasso
Stuart Frankel & Its Partners Own (ABX)
Stuart Frankel & Its Partners Own (CSCO)
Stuart Frankel & Its Partners Own (CUBA)
Stuart Frankel & Its Partners Own (FDX)
Stuart Frankel & Its Partners Own (GERN)
Stuart Frankel & Its Partners Own (HPQ)
Stuart Frankel & Its Partners Own (HSPO)
Stuart Frankel & Its Partners Own (MU)
Stuart Frankel & Its Partners Own (MSFT)
Stuart Frankel & Its Partners Own (NYX)
Stuart Frankel & Its Partners Own (PFE)
Stuart Frankel & Its Partners Own (PRST)
Stuart Frankel & Its Partners Own (RDC)
Stuart Frankel & Its Partners Own (SDS)
Stuart Frankel & Its Partners Own (UAL)
Stuart Frankel & Its Partners Own (XRX)
Stuart Frankel & Its Partners Are Short (QQQQ)
Stuart Frankel & Its Partners Are Short (AAPL)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
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Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries Ltd.
Virtus Investment Partners Owns More Than 1% Of (DBV)
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Virtus Investment Partners Owns More Than 1% Of (XLI)
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For Brian Kelly
Accounts Managed By Brian Kelly Capital Are Long U.S. Dollar
Accounts Managed By Brian Kelly Capital Are Long New Zealand Dollar
Accounts Managed By Brian Kelly Capital Are Long (USO) Puts
Accounts Managed By Brian Kelly Capital Are Long (MON)
Accounts Managed By Brian Kelly Capital Are Long (DBA)
Accounts Managed By Brian Kelly Capital Are Long (IWM) Puts
Accounts Managed By Brian Kelly Capital Are Long Hong Kong Dollar
Accounts Managed By Brian Kelly Capital Are Long (MUB) Puts
Accounts Managed By Brian Kelly Capital Are Short Australian Dollar
Accounts Managed By Brian Kelly Capital Are Short Euro
Accounts Managed By Brian Kelly Capital Are Short (JJC)
Accounts Managed By Brian Kelly Capital Own Hong Kong Stock Exchange

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For Dennis Gartman
Funds Managed By Dennis Gartman Own Canadian Dollars, Australian Dollars, Swiss Franc
Funds Managed By Dennis Gartman Own Gold
Funds Managed By Dennis Gartman Own Wheat
Funds Managed By Dennis Gartman Own Corn
Funds Managed By Dennis Gartman Own Soybeans
Funds Managed By Dennis Gartman Own Crude Oil
Funds Managed By Dennis Gartman Are Short Yen
Funds Managed By Dennis Gartman Are Short Euro
Funds Managed By Dennis Gartman Are Short British Pound Sterling
Funds Managed By Dennis Gartman Are Short Natural Gas

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Fast Fire SOT: Joe Terranova 5/9/11
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