After announcing that Meg Whitman would take over as the new chief executive, Hewlett-Packard (NYSE:HPQ) shares are tumbling as investors realize that the company will still follow ousted CEO Leo Apotheker’s plan to shift the company’s focus from its consumer PC unit to its corporate businesses, moving forward with its planned $10.3 billion acquisition of British software maker Autonomy Corp.
A new poll from The Street shows that 42% of Netflix (NASDAQ:NFLX) subscribers plan to fully cancel their subscriptions following the rise of Qwikster. Many think the placing of Netflix’s DVD and streaming queues on two separate sites will hurt their user experience, and think the company has become “out of touch” with its customers.
Hot Feature: Here’s Why The Netflix Moat Is Running Low
Facebook announced partnerships with online media sources for TV, music, and news, including Rhapsody, The Washington Post Co. (NYSE:WPO), Spotify, and Hulu, which is currently owned by Comcast (NASDAQ:CMCSA), Disney (NYSE:DIS), and News Corp. (NASDAQ:NWSA), though they are exploring a sale. Netflix (NASDAQ:NFLX) CEO Reed Hastings was present at the f8 developers’ conference yesterday, saying he planned to further integrate his service with that of Facebook as well.
Motricitiy (NASDAQ:MOTR), which provides mobile advertising and web portal solutions, has announced a $20 million loan from Carl Icahn, who has a 14.6% stake in the company. Motricity also announced that it’s hired a firm to explore strategic options, such as a spinoff or sale.
ADA-ES (NASDAQ:ADES) shares are skyrocketing after the company announced yesterday a successful demonstration of its M45 technology for producing refined coal.
DigiTimes is reporting that defective touch panels from Wintek, which supplies Apple (NASDAQ:AAPL), could limit the iPhone 5’s availability at the time of its expected October launch.
Apple (NASDAQ:AAPL) launches its largest retail store in Asia in Shanghai today, where customers were lining the streets ten hours in advance of the new store’s opening. Apple now has a total of 5 stores on the Chinese mainland.
AOL’s (NYSE:AOL) Patch local news division is will reportedly to take in $25 million in revenue in 2011, according to inside sources, a figure that would imply a $130 million-plus loss, given the service’s $160 million expense rate.