Fusion-io Inc. plunged the most ever after replacing Chief Executive Officer David Flynn with Shane Robison, a former Hewlett-Packard Co. senior leader associated with a disastrous deal by his prior employer.
Hewlett-Packard Co. accused Autonomy Corp., the software maker it bought last year, of a broad range of financial falsehoods resulting in an $8.8 billion writedown, adding to challenges facing Chief Executive Officer Meg Whitman in the midst of a multiyear turnaround. Shares plunged.
A former portfolio manager for Steven A. Cohen’s SAC Capital Advisors LP was charged with what U.S. prosecutors called a record-setting insider-trading scheme that netted as much as $276 million for the hedge fund.
Hewlett-Packard Co.’s former Chief Executive Officer Leo Apotheker, who has drawn criticism for the troubled acquisition of Autonomy Corp., said the company’s board -- led by Chairman Ray Lane -- shares responsibility for the deal.
Hewlett-Packard Co. , which paid the highest multiple on record for a computer company six months ago, now needs to spend as much as double the historical valuation for software takeovers to catch up in cloud computing.
Hewlett-Packard Co. will turn its WebOS software into an open-source project, aiming to get other hardware makers to embrace the struggling operating system as an alternative to software from Apple Inc. and Google Inc.