News Summary: Autonomy debacle deepens HP's woes

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News,Business

ROTTEN DEAL: Hewlett-Packard Co. is writing off most of its $9.7 billion acquisition of business software maker Autonomy after alleging it was duped into paying too much to complete the deal.

LATEST BLUNDER: The Autonomy acquisition is just the latest in a series of expensive mistakes that have unfolded while HP scrambles to adapt to reduced demand for its personal computers and printers as more people buy smartphones and tablets.

EXASPERATED INVESTORS: HP's stock price plunged 12 percent to close at $11.71, its lowest level in more than a decade. Analysts think HP may have to shake up its board of directors.

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