HP Says Director Leaked About CEO's Ouster
Hewlett-Packard said that director George Keyworth leaked information on board deliberations to the media before the ouster of former chief executive Carly Fiorina in February 2005 and that he won't be nominated for reelection.
Chairwoman Patricia Dunn began an investigation into boardroom leaks after Fiorina was fired.
Keyworth has been a director of Hewlett-Packard since 1986. The company plans a regulatory filing today on the matter, he said.
Rejected Bidder for Gateway to Plan Next Step
Lap Shun Hui, Gateway's fourth-largest shareholder, plans to review his options after his $450 million bid for the company's retail operation was rejected. Hui, who sold EMachines to Gateway in 2004, owns 4.9 percent of Gateway and offered to buy Gateway's retail unit on Aug. 22.
Comverse Requests Filing Extension
Comverse Technology, which is preparing to restate earnings after it found that stock options were manipulated, requested another deadline extension from the Nasdaq Stock Market to refile its 2005 annual report. Comverse previously was granted an extension, to Sept. 25, for filing financial statements for the quarter ended April 30.
Separately, Altera, which is under federal investigation for improper stock option grants, has also asked for a deadline extension.
The semiconductor maker wants until Oct. 28 to file reports for the periods ended Dec. 30, 2005, March 31 and June 30.
Also separately, Autodesk said it is likely to miss its extended deadline of Sept. 18 to file its second-quarter financial report because of a review of stock option grants.
Sprint to Offer Pay-Per-View Films on Phones
Sprint Nextel is offering full-length movies as part of a pay-per-view service for cellphones.
Sprint and Verizon Wireless are racing to provide video for cellphones. Verizon will use Qualcomm's MediaFLO to provide live television. Sprint last year started a slower television service that includes 50 channels.
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.