Must Read Money Stories For Monday, Nov. 2

by November 2, 2015

MRMSMRMSHP Breakup. Hewlett-Packard begins its breakup today, dividing its printer and computer businesses from its IT business, the Financial Times reports. Some analysts believe that the division will make HP an acquisition target. But its CEO, Meg Whitman, contends the two businesses will be easier to run as separate entities. They’ll be known as HP Enterprise, for the IT business, and HP Inc., for the printer and PC business. HP already announced job cuts ahead of the move.

American Pharoah’s new career. Triple Crown winner American Pharoah ended his racing career with a flourish on Saturday, winning the $5 million Breeder’s Cup Classic. Now, Pharoah is off to an even more lucrative career at stud. ESPN estimates the horse, which earned $8.5 million on the racetrack, could earn as much as $20 million as a sire. That’s why it’s unlikely the horse will go back to the track, although he certainly would be a big draw anywhere he appears

TMZ on Fox Sports 1. Fox’s sports network, Fox Sports 1, is headed in a completely different direction from traditional sports programming, according to Awful Announcing. Next week, it will launch TMZ SPORTS, a new program from the gossip-heavy web and broadcast operation. TMZ SPORTS will feature “exclusive up-to-the-minute, off-field stories and breaking news specifically focused on sports personalities making headlines around town.” The Monday through Friday show is meant to portray the intersection between culture and sports.

Fairway’s sales slump. Fairway Market has long been a staple of New York City shopping, often considered a cheaper alternative of the legendary Zabar’s. But, the New York Times reports that Fairway is slumping. Fairway faces stiff competition for gourmet-minded shoppers, who can easily find a Whole Foods nearby. Its ambitious plan to open 300 stores across the country has drained cash and led to credit rating downgrades, and its stock price has fallen 96 percent since Fairway went public in 2013.