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Taking cue from merger, HP tweaks ticker

Though Compaq Computer is being swallowed up by Hewlett-Packard, the PC maker's name will live on. Sort of.

The Compaq Computer corporate name will live on, or at least two letters from it.

Hewlett-Packard plans on Monday to change its ticker symbol on the New York Stock Exchange from its current "HWP" to "HPQ."

"Our new trading symbol is a tribute to the contribution of both companies as we come together to build the new HP," HP CEO Carly Fiorina said in a statement.

HP expects to close its merger with Compaq on Friday and said it expects trading in Compaq shares to be suspended before trading on Monday.

Though the merged company will bear the HP name, Fiorina has also said it plans to use the Compaq brand selectively in other areas. HP has not gone into details on where it will be used.

Hewlett-Packard's ticker symbol has long been a source of confusion, given that the symbol HP is held by Helmerich & Payne, an oil and gas drilling company.