Summary Box: HP overhaul exposes underdog status

EMBRACING ITS UNDERDOG STATUS: Hewlett-Packard finds itself the underdog as it ditches most of its consumer businesses to become more like the well-oiled, corporate-focused machines of IBM and Oracle.

CATERING TO CORPORATIONS: HP will no longer make smartphones and tablet computers and wants to spin off or sell its PC business to focus on services and software instead.

THE FALLOUT: HP’s stock plunged 20 percent on Friday, a day after the restructuring announcement. That’s a strong signal that investors are doubtful about HP’s ability to thrive without businesses that have helped set it apart from rivals.