Hewlett-Packard Co. (NYSE: HPQ) can use all of the good news, or good rumors, that it can get. After all, the situation has turned into a death-spiral. MarketWatch is one of the driving forces this Monday, but not the only force. The media outlet reported that there are market rumors that Carl Icahn is building up a stake in the company.

Driving for change would not be something new here. Short seller Jim Chanos highlighted all of the big risks already, long before the wave of the most recent problems were formally brought to light. Chanos has made a fortune betting against Hewlett-Packard.

HP has denied rumors (or speculation) that a breakup is back on the table. Topeka Capital Markets has said it is time for the company to do something. Can an activist investor move a board that has a really bad record but with a chairman that is deeply entrenched?

Shares of HP are up more than 3% at $14.27 on Monday, against a 52-week range of $11.35 to $30.00.

JON C. OGG

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