As COVID-19 reshapes our economy, our newsletter will help you unpack the news from the day.
Yesterday, Hewlett-Packard announced that it was misled when it acquired the British software firm Autonomy last year. That acquisition forced the company to take an $8.8 billion hit to its bottom line last quarter.
Hewlett Packard says fraud is behind the big quarterly loss it unveiled this morning. The personal computing company is writing down $9 billion because of what it calls financial "misrepresentations" by a company it acquired last year.
Last week, Dell's profits proved to be disappointing. Hewlett-Packard is next up to announce their earnings, as big personal computer makers feel the heat from tablets and smartphones.
A few tech stories we've been following: Hewlett-Packard does announce major layoffs, and there are reports Facebook is thinking of leaving the Nasdaq.
Hewlett-Packard reportedly will announce it is laying off nearly one out of every 10 employees, as Meg Whitman tries to transform one-time pioneer.