HP shares down 5 percent as scandal deepens
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Shares of Hewlett-Packard Co.   fell as much as 5 percent on Thursday after a newspaper report  indicated that Chief Executive Mark Hurd may be linked to a  controversial internal investigation of boardroom media leaks.
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The scandal over Hewlett-Packard Co.'s conduct in investigating press leaks started affecting its business yesterday for the first time, weighing down its stock price and raising questions about the future of its leadership.
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Shares fell as much as 9.5 percent, the most since March, after the company fired its chief accounting officer.
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SAN FRANCISCO: Shares of Google Inc fell as much as 6.5 per cent overnight, as selling restrictions were lifted on 39 million shares held by employees and early investors in the newly public web search company.
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The chairman of Hewlett-Packard is stepping down amid controversy over a probe into leaks at the firm.
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U.S. stocks were lower on Tuesday as  health insurers' shares fell on worry that a probe by New York  Attorney General Eliot Spitzer is widening and will hit the  entire industry.
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HP's chairman will step down following the company's January 2007 board meeting as a result of the press leak investigation she launched and the techniques used, which both the state of California and the U.S. Government are investigating.
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PALO ALTO, California  - Hewlett-Packard   Co.HPQ.N Chairman Patricia Dunn resigned as a director on   Friday as the embattled computer maker unveiled new details of   the boardroom leak probe, including the role of chief executive   Mark Hurd.
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U.S. stocks fell on Wednesday on concern about higher-than-expected inflation and a sharp drop in shares of technology bellwether Hewlett-Packard Co.
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By MICHAEL LIEDTKE Associated Press  SAN FRANCISCO -- Hewlett-Packard Co.'s stock price dropped by 5 percent Thursday as investors reacted to reports that Chief Executive Officer Mark Hurd knew more about the computer and printer maker's elaborate spying program than previously thought.
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By JORDAN ROBERTSON  SAN JOSE, Calif. - A congressional panel wants to question key figures in the scandal surrounding Hewlett-Packard Co.'s investigation of media leaks, while a shareholder lawsuit was filed in state court accusing the company's top brass of breaching their duties.
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By Connie Guglielmo  Hewlett-Packard, the world's biggest maker of personal computers, said it would withdraw its shares from the Nasdaq Stock Market to reduce its listing fees.
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Friday's press event provided more details about HP's leak probe. But it failed to answer some key questions and raised new ones.
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Hewlett-Packard shares fall after disappointing third-quarter profits, while the firm warns the final quarter will also fall short of expectations.
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HP was blasted by legislators this week, but corporate customers say the boardroom leak scandal is a minor distraction, and they still back CEO Mark Hurd.
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By Ian Watson  THE scandal that has erupted following the disclosure that Hewlett-Packard had been spying on some of its directors now appears to have  enveloped chief executive Mark Hurd.
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(InfoWorld) - Two U.S. Congressmen have asked Hewlett-Packard Co. (HP) Chief Executive Officer Mark Hurd to explain why he sold US$1.37 million worth of HP stock just before theÂ company's spying scandal became public. Congressmen John Dingell and Mark Stupak, both Michigan Democrats, sent a letter to Hurd Wednesday requesting an explanation and asking for a response by Dec. 21. "We look forward to responding to the committee's inquiry," said HP spokeswoman Emma Wischhusen. Both congressmen are ranking members of the investigations subcommittee of the House Energy and Commerce Committee, which in September held hearings on the HP pretexting scandal. In his testimony, Hurd apologized for the investigation HP undertook in which private investigators used false pretenses, called pretexting, to gain access to the phone records of people being investigated to trace leaks of board deliberations to the media. In their letter, Dingell and Stupak note that Hurd sold $1.37 million in stock options on Aug. 25, the same day Hurd was briefed by attorneys for Wilson Sonsini, one of HP's outside law firms, about the pretexting investigation and possible legal liability for the company over it. The scandal became public Sept. 6 when HP filed a notice with the U.S. Securities and Exchange Commission acknowledging that director Thomas Perkins resigned over the way the leak investigation was conducted. "The August 25 transaction does not appear to be part of any prescheduled program," the congressmen wrote in their letter to Hurd. "Please explain the reason for this transaction." Questions about the timing of HP executives' stock trades around the same time are also the subject of aÂ shareholder lawsuit against the technology company. The suit, filed Nov. 29 in Santa Clara County Superior Court in California, accuses Hurd and seven other HP executives of selling a total $41.3 million worth of shares between Aug. 21 and Sept. 6 based on insider information that the pretexting scandal was about to become publicly known. HP issued a statement at the time the lawsuit was filed calling it "baseless." As it is, HP's stock price wasn't adversely affected by the scandal as investors regarded it as unrelated to the company's operations. Â