Earlier this week, Google announced an update to its Google+ for Android app, bringing several new features and user interface tweaks to the social network app. The first change is the ability to start a Hangout from anywhere in the app.

We think you’ll find today’s app nicer to look at, but we’re also making it easier to use. Improvements include:

• A navigation ribbon that slides in and out, providing quick access to just about everything
• The ability to download photos directly from Google+, and turn them into wallpaper
• The chance to edit posts inline, in case you make any mistakes while on the go

The update is available for download from Google Play now.

According to a report from Pocket-lint, Facebook is interested in acquiring Opera Software, the company that developed the Opera web browser. As a result of the acquisition, Facebook would create its own web browser with heavy integration of the social network through plug-ins.

A Facebook browser that would allow you keep up to date with your social life from in-built plug-ins and features on the menu bar could be on the cards. Pocket-lint has heard from one of its trusted sources that the social networking giant is looking to buy Opera Software, the company behind the Opera web browser.

According to FOSS Patents, Microsoft has won an injunction in Germany against Motorola Mobility that bans the sale and import of certain Android-powered devices in the country. Devices that will be banned violate Microsoft’s EP1304891 patent, which deals with "communicating multi-part messages between cellular devices using a standardized interface." The ban, which is still subject to approval and confirmation, will carry a bond of $31.4 million.

Today, Google announced that it has launched in-app subscription support for any app available in the Google Play market. The feature allows developers to earn money when users sign up to receive either monthly or yearly content within the app itself.

All subscriptions are auto-renewing, for every app and game and every type of subscription product. Developers just set the price and billing interval and Google Play manages the purchase transactions for them, just as it does for other in-app products and app purchases.

According to a report from The Wall Street Journal, investment bank Morgan Stanley tipped certain companies shortly prior to Facebook's initial public offering (IPO) that the company's value is lower than its starting stock price. The bank apparently received the information internally from a Facebook executive. Since the a majority of the public was not aware of this reappraisal, Facebook's stock did shortly rise to $40+ in the first hours on the NASDAQ, but has since declined significantly.

Facebook is currently being sued by shareholders that claim the company hid information from potential investors in the days leading up to its IPO. In addition, the company is currently under investigation by the SEC and FINRA.

According to a report from DigiTimes, Google will be officially launching its long-awaited and rumored tablet device sometime this July, with initial production yielding about 600,000 units. The report also claims that Google is developing the tablet alongside Asustek Computer's help, but the company has declined to comment on that matter.

Google's 7-inch tablet PC, which the company co-developed with Asustek computer, is set to start shipping in June with initial shipments to reach about 600,000 units. The machine will be officially released in the market in July, according to sources from the upstream supply chain. However, Asustek has declined to comment.

Today, Facebook announced the launch of "Facebook Camera," a new standalone iOS app from the social network that is designed specifically to upload pictures onto Facebook. The app bears a similar resemblance to Instagram, which Facebook acquired for $1 billion earlier this year.

Full release notes for the app:

Share your photos in a snap with Facebook Camera. Post a bunch of photos to Facebook at once, and see what friends are up to with a feed of nothing but their photos.

• Post multiple photos from your camera roll at a time
• Crop and apply filters to give your photos a new look
• Scroll down a single feed of all your friends’ photos
• Tag your friends, add photo captions and say where you are
• See photos from the different apps your friends use

According to several reports circulating the Web over the past few hours, Yahoo is set to launch its own web browser, dubbed "Axis," in the coming hours. Axis is designed to integrate web browsing on a computer, iPhone, and iPad. It works as a separate app on the iPhone and iPad, and as a plugin on desktop computers. The product has yet to be officially announced, but is already available for download here.

According to documents (PDF) released by a San Francisco jury today, Google has been found not guilty of infringing upon Oracle-controlled patents. The court has dismissed the jury in the case and removed Google of any wrong doing. Earlier this month, Google was found of infringing on Oracle's copyrighted material in Android OS, however. That trial is set to resume next Tuesday morning.

According to a report from Reuters, Facebook has begun considering to re-list its stock, which just launched under the NASDAQ this past Friday, under the New York Stock Exchange (NYSE) . The company's stock has been on a sharp decline in the first three days of trading this week, leading to concern from analysts and investors.

In addition, today, Facebook shareholders filed a lawsuit against the company, accusing Facebook of hiding its lowered growth forecasts from the public shortly prior to its IPO launching. No further details regarding the lawsuit has been made available at this time.

Today, Hewlett-Packard (HP) reported its financial results for the second quarter of 2012, announcing a revenue of $30.69 billion, beating analyst expectations of $29.92 billion. In addition, the company announced that it will be cutting 27,000 jobs by 2014, saving about $3 billion. The move comes as HP undergoes a multi-year restructuring period to improve revenues and performance.

The full press release follows:

PALO ALTO, CA, May 23, 2012 (MARKETWIRE via COMTEX) --HP (NYSE: HPQ)

--  Second quarter non-GAAP diluted earnings per share of $0.98, above
    previously provided outlook of $0.88 to $0.91 per share
--  Second quarter GAAP diluted earnings per share of $0.80, above
    previously provided outlook of $0.68 to $0.71 per share
--  Second quarter net revenue of $30.7 billion, down 3% from the
    prior-year period
--  Returned $601 million in cash to shareholders in the form of dividends
    and share repurchases
--  Company announces multi-year restructuring to fuel innovation and
    enable investment -- see separate press release for details

HP second quarter fiscal 2012 financial performance

                            Q2 FY12   Q2 FY11          Y/Y
GAAP net revenue ($B)         $30.7     $31.6         (3%)
GAAP operating margin          7.2%      9.4%   (2.2 pts.)
GAAP net earnings ($B)         $1.6      $2.3        (31%)
GAAP diluted EPS              $0.80     $1.05        (24%)
Non-GAAP operating margin      8.9%     11.3%   (2.4 pts.)
Non-GAAP net earnings ($B)     $1.9      $2.7        (28%)
Non-GAAP diluted EPS          $0.98     $1.24        (21%)

Information about HP's use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.

HP (NYSE: HPQ) today announced financial results for its second fiscal quarter ended April 30, 2012. For the quarter, net revenue of $30.7 billion was down 3% year over year both as reported and when adjusted for the effects of currency.

GAAP diluted earnings per share (EPS) was $0.80, down 24% from the prior-year period. Non-GAAP diluted EPS was $0.98, down 21% from the prior-year period. Second quarter non-GAAP earnings information excludes after-tax costs of $356 million, or $0.18 per diluted share, related to amortization of purchased intangible assets, restructuring charges and acquisition-related charges.

"We are making progress in our multi-year effort to make HP simpler, more efficient and better for customers, employees, and shareholders," said Meg Whitman, HP president and chief executive officer. "This quarter we exceeded our previously provided outlook and are executing against our strategy, but we still have a lot of work to do."

Business Group Results

--  Personal Systems Group(PSG) revenue was flat year over year with a
    5.5% operating margin. Commercial revenue increased 3%, and Consumer
    revenue declined 4% while Workstations revenue was down 1% year over
    year. Desktop units were up 5%, notebook units were down 6% and total
    units were down 1%.
--  Services revenue declined 1% year over year with an 11.3% operating
    margin. Technology Services revenue was flat year over year,
    Application and Business Services revenue grew 1% and IT Outsourcing
    revenue declined 3% year over year.
--  Imaging and Printing Group (IPG) revenue declined 10% year over year
    with a 13.2% operating margin. Commercial hardware revenue was down 4%
    year over year with commercial printer units down 7%. Consumer
    hardware revenue was down 15% year over year with a 13% decline in
    printer units.
--  Enterprise Servers, Storage and Networking (ESSN) revenue declined 6%
    year over year with an 11.2% operating margin. Networking revenue was
    up 2%, Industry Standard Servers revenue was down 6%, Business
    Critical Systems revenue was down 23%, and Storage revenue was up 1%
    year over year.
--  HP Financial Services revenue grew 9% year over year driven by a 4%
    increase in net portfolio assets and a 5% increase in financing
    volume. The business delivered a 9.9% operating margin.
--  Software revenue grew 22% year over year with a 17.7% operating
    margin, including the results of Autonomy. Software revenue was driven
    by 7% license growth, 17% support growth, and 72% growth in services.
    Autonomy saw a significant decline in license revenue.

To help improve Autonomy's performance, Bill Veghte, HP's chief strategy officer and executive vice president of HP Software, will step in to lead Autonomy. Veghte is an experienced software leader who will help develop the right processes and discipline to scale Autonomy and fulfill its promise. Mike Lynch, Autonomy's founder and executive vice president for Information Management, will leave HP after a transition period. The market and competitive positioning for Autonomy remain strong, particularly in cloud offerings.

Asset Management HP generated $2.5 billion in cash flow from operations in the second quarter. Inventory ended the quarter at $7.3 billion, with days of inventory up 2 days year over year to 28 days. Accounts receivable of $16.6 billion was down 4 days year over year to 49 days. Accounts payable ended the quarter at $12.9 billion, down 5 days from the prior-year period to 49 days. HP's dividend payment of $0.12 per share in the second quarter resulted in cash usage of $251 million. HP also utilized $350 million of cash during the quarter to repurchase approximately 13 million shares of common stock in the open market. HP exited the quarter with $8.7 billion in gross cash.

Outlook In connection with the restructuring efforts discussed in a separate press release issued today (http://www8.hp.com/us/en/hp-news/press-release.html?id=1247078), HP expects to record a pre-tax charge of approximately $1.7 billion in fiscal 2012 that will be included in its GAAP financial results for that period. Of that amount, HP expects to record a pre-tax charge of approximately $1.0 billion in its third fiscal quarter. The cash impact associated with the restructuring efforts is expected to be approximately $400 million in fiscal year 2012. Through fiscal 2014, HP expects to record additional pre-tax charges approximating $1.8 billion that will be included in its GAAP financial results for the applicable periods.

In May 2012, HP committed to a change in its PC branding strategy. As a result, HP has commenced an asset impairment analysis to determine the current value of the Compaq trade name acquired in 2002. Based on the preliminary results of that analysis, HP expects to record an impairment charge of up to approximately $1.2 billion that will be included in its GAAP financial results for its third fiscal quarter. There will be no cash impact associated with the impairment charge.

For the third quarter of fiscal 2012, HP estimates non-GAAP diluted EPS to be in the range of $0.94 to $0.97 and GAAP diluted EPS to be in the range of $0.00 to $0.03.

Third quarter fiscal 2012 non-GAAP diluted EPS estimates exclude after-tax costs of approximately $0.94 per share, related primarily to the amortization and impairment of purchased intangible assets, restructuring charges, and acquisition-related charges.

For the full year fiscal 2012, HP now estimates non-GAAP diluted EPS to be in the range of $4.05 to $4.10 and GAAP diluted EPS to be in the range of $2.25 to $2.30.

Full year fiscal 2012 non-GAAP diluted EPS estimates exclude after-tax costs of approximately $1.80 per share, related primarily to the amortization and impairment of purchased intangible assets, restructuring charges and acquisition-related charges.

More information on HP's quarterly earnings, including additional financial analysis and an earnings overview presentation, is available on HP's Investor Relations website at www.hp.com/investor/home.

HP's Q2 FY12 earnings conference call is accessible via an audio webcast at www.hp.com/investor/2012q2webcast.

About HP HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world's largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP is available at http://www.hp.com.

Use of non-GAAP financial information To supplement HP's consolidated condensed financial statements presented on a GAAP basis, HP provides non-GAAP net revenue, non-GAAP operating profit, non-GAAP operating margin, non-GAAP net earnings, non-GAAP diluted earnings per share, gross cash and free cash flow. HP also provides forecasts of non-GAAP diluted earnings per share. A reconciliation of the adjustments to GAAP results for this quarter and prior periods is included in the tables below. In addition, an explanation of the ways in which HP management uses these non-GAAP measures to evaluate its business, the substance behind HP management's decision to use these non-GAAP measures, the material limitations associated with the use of these non-GAAP measures, the manner in which HP management compensates for those limitations, and the substantive reasons why HP management believes that these non-GAAP measures provide useful information to investors is included under "Use of Non-GAAP Financial Measures" after the tables below. This additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for revenue, operating profit, operating margin, net earnings, diluted earnings per share, cash and cash equivalents or cash flow from operations prepared in accordance with GAAP.

Forward-looking statements This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of HP may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any projections of revenue, margins, expenses, earnings, earnings per share, tax provisions, cash flows, benefit obligations, share repurchases, currency exchange rates, the impact of acquisitions or other financial items; any projections of the amount, timing or impact of cost savings, restructuring charges, early retirement programs, workforce reductions or impairment charges; any statements of the plans, strategies and objectives of management for future operations, including the execution of restructuring plans and any resulting cost savings or revenue or profitability improvements; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the impact of macroeconomic and geopolitical trends and events; the competitive pressures faced by HP's businesses; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its suppliers, customers and partners; the protection of HP's intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; assumptions related to pension and other post-retirement costs and retirement programs; the execution, timing and results of restructuring plans, including estimates and assumptions related to the cost and the anticipated benefits of implementing those plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP's Annual Report on Form 10-K for the fiscal year ended October 31, 2011 and HP's other filings with the Securities and Exchange Commission, including HP's Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2012. As in prior periods, the financial information set forth in this release, including tax-related items, reflects estimates based on information available at this time. While HP believes these estimates to be meaningful, these amounts could differ materially from actual reported amounts in HP's Form 10-Q for the fiscal quarter ended April 30, 2012. In particular, determining HP's actual tax balances and provisions as of April 30, 2012 requires extensive internal and external review of tax data (including consolidating and reviewing the tax provisions of numerous domestic and foreign entities), which is being completed in the ordinary course of preparing HP's Form 10-Q. HP assumes no obligation and does not intend to update these forward-looking statements.

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
               CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
                                (Unaudited)
                   (In millions except per share amounts)

                                                Three months ended
                                      -------------------------------------
                                       April 30,   January 31,   April 30,
                                          2012         2012         2011
                                      -----------  -----------  -----------

Net revenue                           $    30,693  $    30,036  $    31,632

Costs and Expenses:(a)
  Cost of sales                            23,541       23,313       23,832
  Research and development                    850          786          815
  Selling, general and administrative       3,540        3,367        3,425
  Amortization of purchased
   intangible assets                          470          466          413
  Restructuring charges                        53           40          158
  Acquisition-related charges                  17           22           21
                                      -----------  -----------  -----------
    Total costs and expenses               28,471       27,994       28,664
                                      -----------  -----------  -----------

Earnings from operations                    2,222        2,042        2,968

Interest and other, net                      (243)        (221)         (76)
                                      -----------  -----------  -----------

Earnings before taxes                       1,979        1,821        2,892

Provision for taxes                           386          353          588
                                      -----------  -----------  -----------

Net earnings                          $     1,593  $     1,468  $     2,304
                                      ===========  ===========  ===========

Net earnings per share:
  Basic                               $      0.80  $      0.74  $      1.07
  Diluted                             $      0.80  $      0.73  $      1.05

Cash dividends declared per share     $         -  $      0.24  $         -

Weighted-average shares used to
 compute net earnings per share:
  Basic                                     1,979        1,981        2,150
  Diluted                                   1,987        1,998        2,184

(a) In connection with organizational realignments implemented in the first
    quarter of fiscal year 2012, certain costs previously reported as Cost
    of Sales have been reclassified as Selling, General and Administrative
    expenses to better align those costs with the functional areas that
    benefit from those expenditures.

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
               CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
                                (Unaudited)
                   (In millions except per share amounts)

                                                       Six months ended
                                                   ------------------------
                                                           April 30,
                                                   ------------------------
                                                       2012         2011
                                                   -----------  -----------

Net revenue                                        $    60,729  $    63,934

Costs and expenses:(a)
  Cost of sales                                         46,854       48,213
  Research and development                               1,636        1,613
  Selling, general and administrative                    6,907        6,542
  Amortization of purchased intangible assets              936          838
  Restructuring charges                                     93          316
  Acquisition-related charges                               39           50
                                                   -----------  -----------
    Total costs and expenses                            56,465       57,572
                                                   -----------  -----------

Earnings from operations                                 4,264        6,362

Interest and other, net                                   (464)        (173)
                                                   -----------  -----------

Earnings before taxes                                    3,800        6,189

Provision for taxes                                        739        1,280
                                                   -----------  -----------

Net earnings                                       $     3,061  $     4,909
                                                   ===========  ===========

Net earnings per share:
  Basic                                            $      1.55  $      2.27
  Diluted                                          $      1.53  $      2.23

Cash dividends declared per share                  $      0.24  $      0.16

Weighted-average shares used to compute net
 earnings per share:
  Basic                                                  1,980        2,166
  Diluted                                                1,995        2,203

(a) In connection with organizational realignments implemented in the first
    quarter of fiscal year 2012, certain costs previously reported as Cost
    of Sales have been reclassified as Selling, General and Administrative
    expenses to better align those costs with the functional areas that
    benefit from those expenditures.

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
        ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS,
                  OPERATING MARGIN AND EARNINGS PER SHARE
                                (Unaudited)
                   (In millions except per share amounts)

                     Three              Three              Three
                     months             months             months
                     ended    Diluted   ended    Diluted   ended    Diluted
                     April   earnings  January  earnings   April   earnings
                      30,       per      31,       per      30,       per
                      2012     share     2012     share     2011     share
                    -------  --------  -------  --------  -------  --------

GAAP net earnings   $ 1,593  $   0.80  $ 1,468  $   0.73  $ 2,304  $   1.05

Non-GAAP
 adjustments:
  Amortization of
   purchased
   intangible
   assets               470      0.23      466      0.24      413      0.19
  Restructuring
   charges               53      0.03       40      0.02      158      0.07
  Acquisition-
   related charges       17      0.01       22      0.01       21      0.01
  Wind down of the
   webOS device
   business(a)          (36)    (0.02)       -         -        -         -
  Adjustments for
   taxes               (148)    (0.07)    (164)    (0.08)    (179)    (0.08)
                    -------  --------  -------  --------  -------  --------
Non-GAAP net
 earnings           $ 1,949  $   0.98  $ 1,832  $   0.92  $ 2,717  $   1.24
                    =======  ========  =======  ========  =======  ========

GAAP earnings from
 operations         $ 2,222            $ 2,042            $ 2,968

Non-GAAP
 adjustments:
  Amortization of
   purchased
   intangible
   assets               470                466                413
  Restructuring
   charges               53                 40                158
  Acquisition-
   related charges       17                 22                 21
  Wind down of the
   webOS device
   business(a)          (36)                 -                  -
                    -------            -------            -------
Non-GAAP earnings
 from operations    $ 2,726            $ 2,570            $ 3,560
                    =======            =======            =======

GAAP operating
 margin                   7%                 7%                 9%
Non-GAAP
 adjustments              2%                 2%                 2%
                    -------            -------            -------

Non-GAAP operating
 margin                   9%                 9%                11%
                    =======            =======            =======

(a) Primarily includes adjustments to expenses for supplier-related
    obligations related to winding down the webOS device business.

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
        ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS,
                  OPERATING MARGIN AND EARNINGS PER SHARE
                                (Unaudited)
                   (In millions except per share amounts)

                             Six months              Six months
                               ended       Diluted     ended       Diluted
                             April 30,    earnings   April 30,    earnings
                                2012      per share     2011      per share
                             ----------  ----------  ----------  ----------

GAAP net earnings            $    3,061  $     1.53  $    4,909  $     2.23

Non-GAAP adjustments:
  Amortization of purchased
   intangible assets                936        0.47         838        0.39
  Restructuring charges              93        0.05         316        0.14
  Acquisition-related
   charges                           39        0.02          50        0.02
  Wind down of the webOS
   device business(a)               (36)      (0.02)          -           -
  Adjustments for taxes            (312)      (0.15)       (366)      (0.17)
                             ----------  ----------  ----------  ----------
Non-GAAP net earnings        $    3,781  $     1.90  $    5,747  $     2.61
                             ==========  ==========  ==========  ==========

GAAP earnings from
 operations                  $    4,264              $    6,362

Non-GAAP adjustments:
  Amortization of purchased
   intangible assets                936                     838
  Restructuring charges              93                     316
  Acquisition-related
   charges                           39                      50
  Wind down of the webOS
   device business(a)               (36)                      -
                             ----------              ----------
Non-GAAP earnings from
 operations                  $    5,296              $    7,566
                             ==========              ==========

GAAP operating margin                 7%                     10%
Non-GAAP adjustments                  2%                      2%
                             ----------              ----------

Non-GAAP operating margin             9%                     12%
                             ==========              ==========

(a) Primarily includes adjustments to expenses for supplier-related
    obligations related to winding down the webOS device business.

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
                   CONSOLIDATED CONDENSED BALANCE SHEETS
                               (In millions)

                                                    April 30,   October 31,
                                                       2012         2011
                                                   -----------  -----------
                                                   (unaudited)
ASSETS

Current assets:
  Cash and cash equivalents                        $     8,311  $     8,043
  Accounts receivable                                   16,609       18,224
  Financing receivables                                  3,139        3,162
  Inventory                                              7,306        7,490
  Other current assets                                  14,324       14,102
                                                   -----------  -----------
    Total current assets                                49,689       51,021
                                                   -----------  -----------

Property, plant and equipment                           12,236       12,292

Long-term financing receivables and other assets        11,018       10,755

Goodwill and purchased intangible assets                54,746       55,449
                                                   -----------  -----------

Total assets                                       $   127,689  $   129,517
                                                   ===========  ===========

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Notes payable and short-term borrowings          $     4,252  $     8,083
  Accounts payable                                      12,900       14,750
  Employee compensation and benefits                     3,609        3,999
  Taxes on earnings                                        871        1,048
  Deferred revenue                                       7,582        7,449
  Other accrued liabilities                             13,585       15,113
                                                   -----------  -----------
    Total current liabilities                           42,799       50,442
                                                   -----------  -----------

Long-term debt                                          25,825       22,551

Other liabilities                                       17,368       17,520

Stockholders' equity:
  HP stockholders' equity                               41,288       38,625
  Non-controlling interests                                409          379
                                                   -----------  -----------
    Total stockholders' equity                          41,697       39,004
                                                   -----------  -----------

Total liabilities and stockholders' equity         $   127,689  $   129,517
                                                   ===========  ===========

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
              CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                                (Unaudited)
                               (In millions)

                                                 Three months   Six months
                                                     ended         ended
                                                   April 30,     April 30,
                                                     2012          2012
                                                 ------------  ------------

Cash flows from operating activities:
  Net earnings                                   $      1,593  $      3,061
  Adjustments to reconcile net earnings to net
   cash provided by operating activities:
    Depreciation and amortization                       1,285         2,588
    Stock-based compensation expense                      169           344
    Provision for bad debt and inventory                   95           147
    Restructuring charges                                  53            93
    Deferred taxes on earnings                            (45)         (155)
    Excess tax benefit from stock-based
     compensation                                          (1)          (12)
    Other, net                                            196           240

    Changes in operating assets and liabilities:
      Accounts and financing receivables                 (832)        1,479
      Inventory                                           (91)           89
      Accounts payable                                    525        (1,851)
      Taxes on earnings                                   (42)          (54)
      Restructuring                                      (100)         (274)
      Other assets and liabilities                       (332)       (2,029)
                                                 ------------  ------------
        Net cash provided by operating
         activities                                     2,473         3,666
                                                 ------------  ------------

Cash flows from investing activities:
    Investment in property, plant and equipment        (1,080)       (1,963)
    Proceeds from sale of property, plant and
     equipment                                            128           224
    Purchases of available-for-sale securities
     and other investments                               (565)         (565)
    Maturities and sales of available-for-sale
     securities and other investments                     250           346
    Payments made in connection with business
     acquisitions, net of cash acquired                     -          (141)
    Proceeds from business divestiture, net                 -            81
                                                 ------------  ------------
      Net cash used in investing activities            (1,267)       (2,018)
                                                 ------------  ------------

Cash flows from financing activities:
    Repayment of commercial paper and notes
     payable, net                                        (185)       (2,792)
    Issuance of debt                                    2,017         5,052
    Payment of debt                                    (2,561)       (2,661)
    Issuance of common stock under employee
     stock plans                                          321           634
    Repurchase of common stock                           (350)       (1,130)
    Excess tax benefit from stock-based
     compensation                                           1            12
    Cash dividends paid                                  (251)         (495)
                                                 ------------  ------------
      Net cash used in financing activities            (1,008)       (1,380)
                                                 ------------  ------------

Increase in cash and cash equivalents                     198           268
Cash and cash equivalents at beginning of period        8,113         8,043
                                                 ------------  ------------
Cash and cash equivalents at end of period       $      8,311  $      8,311
                                                 ============  ============

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
                            SEGMENT INFORMATION
                                (Unaudited)
                               (In millions)

                                                Three months ended
                                      -------------------------------------
                                       April 30,   January 31,   April 30,
                                          2012         2012         2011
                                      -----------  -----------  -----------

Net revenue:(a)

  Personal Systems Group              $     9,452  $     8,873  $     9,415
  Services                                  8,831        8,626        8,916
  Imaging and Printing Group                6,132        6,258        6,843
  Enterprise Servers, Storage and
   Networking                               5,211        5,018        5,516
  Software                                    970          946          797
  HP Financial Services                       968          950          885
  Corporate Investments                        18           58           42
                                      -----------  -----------  -----------
    Total segments                         31,582       30,729       32,414
  Eliminations of intersegment net
   revenue and other                         (889)        (693)        (782)
                                      -----------  -----------  -----------

    Total HP consolidated net revenue $    30,693  $    30,036  $    31,632
                                      ===========  ===========  ===========

Earnings before taxes:(a)

  Personal Systems Group              $       524  $       464  $       533
  Services                                    997          905        1,372
  Imaging and Printing Group                  808          761        1,136
  Enterprise Servers, Storage and
   Networking                                 585          562          760
  Software                                    172          162          158
  HP Financial Services                        96           91           83
  Corporate Investments                       (49)         (48)        (199)
                                      -----------  -----------  -----------
    Total segment earnings from
     operations                             3,133        2,897        3,843

  Corporate and unallocated costs and
   eliminations                              (203)        (153)        (153)
  Unallocated costs related to stock-
   based compensation expense                (168)        (174)        (130)
  Amortization of purchased
   intangible assets                         (470)        (466)        (413)
  Restructuring charges                       (53)         (40)        (158)
  Acquisition-related charges                 (17)         (22)         (21)
  Interest and other, net                    (243)        (221)         (76)
                                      -----------  -----------  -----------

    Total HP consolidated earnings
     before taxes                     $     1,979  $     1,821  $     2,892
                                      ===========  ===========  ===========

(a) Certain fiscal 2012 organizational reclassifications have been reflected
    retroactively to provide improved visibility and comparability. For each
    of the quarters in fiscal year 2011, the reclassifications resulted in
    the transfer of revenue and operating profit among the Services, Imaging
    and Printing Group, Enterprise Servers, Storage and Networking, Software
    and Corporate Investments financial reporting segments.
    Reclassifications between segments included the transfer of the Indigo
    Scitex support and the LaserJet and enterprise solutions trade support
    businesses from Services to the Imaging and Printing Group, the transfer
    of the business intelligence services business from Corporate
    Investments to Services, the transfer of the information management
    services business from Software to Services, and the transfer of the
    TippingPoint business from Enterprise Servers, Storage and Networking to
    Software. There was no impact on the previously reported financial
    results for the Personal Systems Group and HP Financial Services
    segments.

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
                            SEGMENT INFORMATION
                                (Unaudited)
                               (In millions)

                                                       Six months ended
                                                           April 30,
                                                   ------------------------
                                                       2012         2011
                                                   -----------  -----------

Net revenue:(a)

  Personal Systems Group                           $    18,325  $    19,864
  Services                                              17,457       17,445
  Imaging and Printing Group                            12,390       13,574
  Enterprise Servers, Storage and Networking            10,229       11,115
  Software                                               1,916        1,522
  HP Financial Services                                  1,918        1,712
  Corporate Investments                                     76          104
                                                   -----------  -----------
    Total Segments                                      62,311       65,336
  Eliminations of intersegment net revenue and
   other                                                (1,582)      (1,402)
                                                   -----------  -----------

    Total HP consolidated net revenue              $    60,729  $    63,934
                                                   ===========  ===========

Earnings before taxes:(a)

  Personal Systems Group                           $       988  $     1,205
  Services                                               1,902        2,753
  Imaging and Printing Group                             1,569        2,255
  Enterprise Servers, Storage and Networking             1,147        1,590
  Software                                                 334          278
  HP Financial Services                                    187          162
  Corporate Investments                                    (97)        (377)
                                                   -----------  -----------
    Total segment earnings from operations               6,030        7,866

  Corporate and unallocated costs and eliminations        (356)          (4)
  Unallocated costs related to stock-based
   compensation expense                                   (342)        (296)
  Amortization of purchased intangible assets             (936)        (838)
  Restructuring charges                                    (93)        (316)
  Acquisition-related charges                              (39)         (50)
  Interest and other, net                                 (464)        (173)
                                                   -----------  -----------

    Total HP consolidated earnings before taxes    $     3,800  $     6,189
                                                   ===========  ===========

(a) Certain fiscal 2012 organizational reclassifications have been reflected
    retroactively to provide improved visibility and comparability. For each
    of the quarters in fiscal year 2011, the reclassifications resulted in
    the transfer of revenue and operating profit among the Services, Imaging
    and Printing Group, Enterprise Servers, Storage and Networking, Software
    and Corporate Investments financial reporting segments.
    Reclassifications between segments included the transfer of the Indigo
    Scitex support and the LaserJet and enterprise solutions trade support
    businesses from Services to the Imaging and Printing Group, the transfer
    of the business intelligence services business from Corporate
    Investments to Services, the transfer of the information management
    services business from Software to Services, and the transfer of the
    TippingPoint business from Enterprise Servers, Storage and Networking to
    Software. There was no impact on the previously reported financial
    results for the Personal Systems Group and HP Financial Services
    segments.

                 HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
                    SEGMENT / BUSINESS UNIT INFORMATION
                                (Unaudited)
                               (In millions)

                                                               Growth rate
                                  Three months ended               (%)
                        -------------------------------------  -----------
                         April 30,   January 31,   April 30,
                            2012         2012         2011      Q/Q    Y/Y
                        -----------  -----------  -----------  ----   ----

Net revenue:(a)

  Personal Systems
   Group
    Notebooks           $     4,900  $     4,942  $     5,039    (1%)   (3%)
    Desktops                  3,827        3,206        3,641    19%     5%
    Workstations                537          535          541     0%    (1%)
    Other                       188          190          194    (1%)   (3%)
                        -----------  -----------  -----------
      Total Personal
       Systems Group          9,452        8,873        9,415     7%     0%
                        -----------  -----------  -----------

  Services
    Infrastructure
     Technology
     Outsourcing              3,669        3,701        3,786    (1%)   (3%)
    Technology Services       2,638        2,562        2,629     3%     0%
    Application and
     Business
     Services(b)              2,524        2,363        2,501     7%     1%
                        -----------  -----------  -----------
      Total Services          8,831        8,626        8,916     2%    (1%)
                        -----------  -----------  -----------

  Imaging and Printing
   Group
    Supplies                  4,060        4,079        4,612     0%   (12%)
    Commercial Hardware       1,479        1,489        1,536    (1%)   (4%)
    Consumer Hardware           593          690          695   (14%)  (15%)
                        -----------  -----------  -----------
      Total Imaging and
       Printing Group         6,132        6,258        6,843    (2%)  (10%)
                        -----------  -----------  -----------

  Enterprise Servers,
   Storage and
   Networking
    Industry Standard
     Servers                  3,186        3,072        3,387     4%    (6%)
    Storage                     990          955          980     4%     1%
    Business Critical
     Systems                    421          405          546     4%   (23%)
    Networking                  614          586          603     5%     2%
                        -----------  -----------  -----------
      Total Enterprise
       Servers, Storage
       and Networking         5,211        5,018        5,516     4%    (6%)
                        -----------  -----------  -----------

  Software                      970          946          797     3%    22%
                        -----------  -----------  -----------

  HP Financial Services         968          950          885     2%     9%
                        -----------  -----------  -----------

  Corporate Investments          18           58           42   (69%)  (57%)
                        -----------  -----------  -----------
    Total segments           31,582       30,729       32,414     3%    (3%)
                        -----------  -----------  -----------

  Elimination of
   intersegment net
   revenue and other           (889)        (693)        (782)   28%    14%
                        -----------  -----------  -----------

    Total HP
     consolidated net
     revenue            $    30,693  $    30,036  $    31,632     2%    (3%)
                        ===========  ===========  ===========

(a) Certain fiscal 2012 organizational reclassifications have been reflected
    retroactively to provide improved visibility and comparability. For each
    of the quarters in fiscal year 2011, the reclassifications resulted in
    the transfer of revenue among the Services, Imaging and Printing Group,
    Enterprise Servers, Storage and Networking, Software and Corporate
    Investments financial reporting segments. Reclassifications between
    segments included the transfer of Indigo Scitex support and the LaserJet
    and enterprise solutions trade support businesses from Services to the
    Imaging and Printing Group, the transfer of the business intelligence
    services business from Corporate Investments to Services, the transfer
    of the information management services business from Software to
    Services, and the transfer of the TippingPoint business from Enterprise
    Servers, Storage and Networking to Software. In addition, revenue was
    transferred among the business units within the Services segment. There
    was no impact on the previously reported financial results for the
    Personal Systems Group and HP Financial Services segments.

(b) The former Application Services, Business Process Outsourcing and Other
    Services business units were consolidated into a new Application and
    Business Services business unit in fiscal 2012.

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
                    SEGMENT / BUSINESS UNIT INFORMATION
                                (Unaudited)
                               (In millions)

                                                       Six months ended
                                                           April 30,
                                                   ------------------------
                                                       2012         2011
                                                   -----------  -----------

Net revenue:(a)

  Personal Systems Group
    Notebooks                                      $     9,842  $    10,847
    Desktops                                             7,033        7,537
    Workstations                                         1,072        1,076
    Other                                                  378          404
                                                   -----------  -----------
      Total Personal Systems Group                      18,325       19,864
                                                   -----------  -----------

  Services
    Infrastructure Technology Outsourcing                7,370        7,430
    Technology Services                                  5,200        5,143
    Application and Business Services(b)                 4,887        4,872
                                                   -----------  -----------
      Total Services                                    17,457       17,445
                                                   -----------  -----------

  Imaging and Printing Group
    Supplies                                             8,139        8,970
    Commercial Hardware                                  2,968        3,101
    Consumer Hardware                                    1,283        1,503
                                                   -----------  -----------
      Total Imaging and Printing Group                  12,390       13,574
                                                   -----------  -----------

  Enterprise Servers, Storage and Networking
    Industry Standard Servers                            6,258        6,835
    Storage                                              1,945        1,992
    Business Critical Systems                              826        1,101
    Networking                                           1,200        1,187
                                                   -----------  -----------
      Total Enterprise Servers, Storage and
       Networking                                       10,229       11,115
                                                   -----------  -----------

  Software                                               1,916        1,522
                                                   -----------  -----------

  HP Financial Services                                  1,918        1,712
                                                   -----------  -----------

  Corporate Investments                                     76          104
                                                   -----------  -----------
    Total segments                                      62,311       65,336
                                                   -----------  -----------

  Elimination of intersegment net revenue and
   other                                                (1,582)      (1,402)
                                                   -----------  -----------

    Total HP consolidated net revenue              $    60,729  $    63,934
                                                   ===========  ===========

(a) Certain fiscal 2012 organizational reclassifications have been reflected
    retroactively to provide improved visibility and comparability. For each
    of the quarters in fiscal year 2011, the reclassifications resulted in
    the transfer of revenue among the Services, Imaging and Printing Group,
    Enterprise Servers, Storage and Networking, Software and Corporate
    Investments financial reporting segments. Reclassifications between
    segments included the transfer of Indigo Scitex support and the LaserJet
    and enterprise solutions trade support businesses from Services to the
    Imaging and Printing Group, the transfer of the business intelligence
    services business from Corporate Investments to Services, the transfer
    of the information management services business from Software to
    Services, and the transfer of the TippingPoint business from Enterprise
    Servers, Storage and Networking to Software. In addition, revenue was
    transferred among the business units within the Services segment. There
    was no impact on the previously reported financial results for the
    Personal Systems Group and HP Financial Services segments.

(b) The former Application Services, Business Process Outsourcing and Other
    Services business units were consolidated into a new Application and
    Business Services business unit in fiscal 2012.

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
               SEGMENT NON-GAAP OPERATING MARGIN SUMMARY DATA
                                (Unaudited)
                               (In millions)

                                      Three months     Change in Operating
                                          ended           Margin (pts)
                                      ------------   ----------------------
                                       April 30,
                                          2012           Q/Q         Y/Y
                                      ------------   ----------  ----------

Non-GAAP operating margin:(a)
  Personal Systems Group                       5.5%     0.3 pts    (0.2 pts)
  Services                                    11.3%     0.8 pts    (4.1 pts)
  Imaging and Printing Group                  13.2%     1.0 pts    (3.4 pts)
  Enterprise Servers, Storage and
   Networking                                 11.2%     0.0 pts    (2.6 pts)
  Software                                    17.7%     0.6 pts    (2.1 pts)
  HP Financial Services                        9.9%     0.3 pts     0.5 pts
  Corporate Investments                     (472.2%) (389.4 pts)    1.6 pts
    Total segments                             9.8%     0.4 pts    (2.1 pts)

    Total HP consolidated non-GAAP
     operating margin                          8.9%     0.3 pts    (2.4 pts)

(a) Certain fiscal 2012 organizational reclassifications have been reflected
    retroactively to provide improved visibility and comparability. For each
    of the quarters in fiscal year 2011, the reclassifications resulted in
    the transfer of revenue and operating profit among the Services, Imaging
    and Printing Group, Enterprise Servers, Storage and Networking, Software
    and Corporate Investments financial reporting segments.
    Reclassifications between segments included the transfer of Indigo
    Scitex support and the LaserJet and enterprise solutions trade support
    businesses from Services to the Imaging and Printing Group, the transfer
    of the business intelligence services business from Corporate
    Investments to Services, the transfer of the information management
    services business from Software to Services, and the transfer of the
    TippingPoint business from Enterprise Servers, Storage and Networking to
    Software. There was no impact on the previously reported financial
    results for the Personal Systems Group and HP Financial Services
    segments.

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
                    CALCULATION OF NET EARNINGS PER SHARE
                                 (Unaudited)
                   (In millions except per share amounts)

                                                 Three months ended
                                       -------------------------------------
                                        April 30,   January 31,   April 30,
                                           2012         2012         2011
                                       -----------  -----------  -----------

Numerator:
  GAAP net earnings                    $     1,593  $     1,468  $     2,304
                                       ===========  ===========  ===========

  Non-GAAP net earnings                $     1,949  $     1,832  $     2,717
                                       ===========  ===========  ===========

Denominator:
  Weighted-average shares used to
   compute basic EPS                         1,979        1,981        2,150
  Dilutive effect of employee stock
   plans                                         8           17           34
                                       -----------  -----------  -----------
    Weighted-average shares used to
     compute diluted EPS                     1,987        1,998        2,184
                                       ===========  ===========  ===========

GAAP net earnings per share:
  Basic(a)                             $      0.80  $      0.74  $      1.07
  Diluted(c)                           $      0.80  $      0.73  $      1.05

Non-GAAP net earnings per share:
  Basic(b)                             $      0.98  $      0.92  $      1.26
  Diluted(c)                           $      0.98  $      0.92  $      1.24

(a) GAAP basic earnings per share were calculated based on GAAP net earnings
    and the weighted-average number of shares outstanding during the
    reporting period.

(b) Non-GAAP basic earnings per share were calculated based on non-GAAP net
    earnings and the weighted-average number of shares outstanding during
    the reporting period.

(c) Diluted net earnings per share included any dilutive effect of
    outstanding stock options, performance-based restricted units,
    restricted stock units and restricted stock.

                  HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
                    CALCULATION OF NET EARNINGS PER SHARE
                                 (Unaudited)
                   (In millions except per share amounts)

                                                        Six months ended
                                                            April 30,
                                                    ------------------------
                                                        2012         2011
                                                    -----------  -----------

Numerator:
  GAAP net earnings                                 $     3,061  $     4,909
                                                    ===========  ===========

  Non-GAAP net earnings                             $     3,781  $     5,747
                                                    ===========  ===========

Denominator:
  Weighted-average shares used to compute basic EPS       1,980        2,166
  Dilutive effect of employee stock plans                    15           37
                                                    -----------  -----------
    Weighted-average shares used to compute diluted
     EPS                                                  1,995        2,203
                                                    ===========  ===========

GAAP net earnings per share:
  Basic(a)                                          $      1.55  $      2.27
  Diluted(c)                                        $      1.53  $      2.23

Non-GAAP net earnings per share:
  Basic(b)                                          $      1.91  $      2.65
  Diluted(c)                                        $      1.90  $      2.61

(a) GAAP basic earnings per share were calculated based on GAAP net earnings
    and the weighted-average number of shares outstanding during the
    reporting period.

(b) Non-GAAP basic earnings per share were calculated based on non-GAAP net
    earnings and the weighted-average number of shares outstanding during
    the reporting period.

(c) Diluted net earnings per share included any dilutive effect of
    outstanding stock options, performance-based restricted units,
    restricted stock units and restricted stock.

Use of Non-GAAP Financial Measures To supplement HP's consolidated condensed financial statements presented on a GAAP basis, HP provides non-GAAP net revenue, non-GAAP operating profit, non-GAAP operating margin, non-GAAP net earnings, non-GAAP diluted earnings per share, gross cash and free cash flow. HP also provides forecasts of non-GAAP diluted earnings per share. These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States. The GAAP measure most directly comparable to non-GAAP net revenue is net revenue. The GAAP measure most directly comparable to non-GAAP operating profit is earnings from operations. The GAAP measure most directly comparable to non-GAAP operating margin is operating margin. The GAAP measure most directly comparable to non-GAAP net earnings is net earnings. The GAAP measure most directly comparable to non-GAAP diluted earnings per share is diluted net earnings per share. The GAAP measure most directly comparable to gross cash is cash and cash equivalents. The GAAP measure most directly comparable to free cash flow is cash flow from operations. Reconciliations of each of these non-GAAP financial measures to GAAP information are included in the tables above.

Use and Economic Substance of Non-GAAP Financial Measures Used by HP

Non-GAAP net revenue reflects the elimination of contra revenue associated with sales incentive programs implemented in the fourth fiscal quarter of 2011 in connection with the wind down of HP's webOS device business, net of webOS device revenue for the period. Non-GAAP operating profit and non-GAAP operating margin are defined to exclude the effects of any restructuring charges, charges relating to the impairment of goodwill and purchased intangible assets, charges relating to the amortization of purchased intangible assets, and acquisition-related charges recorded during the relevant period. Non-GAAP net earnings and non-GAAP diluted earnings per share consist of net earnings or diluted net earnings per share excluding those same charges. In addition, non-GAAP net earnings and non-GAAP diluted earnings per share are adjusted by the amount of additional taxes or tax benefit associated with each non-GAAP item. HP's management uses these non-GAAP financial measures for purposes of evaluating HP's historical and prospective financial performance, as well as HP's performance relative to its competitors. HP's management also uses these non-GAAP measures to further its own understanding of HP's segment operating performance. HP believes that excluding those items mentioned above from these non-GAAP financial measures allows HP management to better understand HP's consolidated financial performance in relationship to the operating results of HP's segments, as management does not believe that the excluded items are reflective of ongoing operating results. More specifically, HP's management excludes each of those items mentioned above for the following reasons:

--  In the fourth quarter of fiscal 2011, HP announced that it would wind
    down its webOS device business. Non-GAAP net revenue reported in the
    fourth quarter of fiscal 2011 reflects the elimination of contra
    revenue associated with sales incentive programs implemented in
    connection with the wind down of that business, net of webOS device
    revenue for the period. Because the winding down of HP businesses is
    inconsistent in amount and frequency, HP believes that eliminating
    these amounts for purposes of calculating non-GAAP net revenue
    facilitates a more meaningful evaluation of HP's current operating
    performance and comparisons to HP's past and future operating
    performance.
--  Goodwill is the excess of the purchase price of acquired companies
    over the estimated fair value of the tangible and intangible assets
    acquired and liabilities assumed. Purchased intangible assets consist
    primarily of customer contracts, customer lists, distribution
    agreements, technology patents, and products, trademarks and trade
    names purchased in connection with acquisitions. In the fourth quarter
    of fiscal 2011, HP recorded impairment charges to goodwill and certain
    intangible assets associated with the acquisition of Palm Inc. The
    charges relate to HP's decision to wind-down the webOS device
    business. Impairment charges are inconsistent in amount and frequency.
    HP excludes these charges for purposes of calculating these non-GAAP
    measures to facilitate a more meaningful evaluation of HP's current
    operating performance and comparisons to HP's past and future
    operating performance.
--  HP incurs charges relating to the amortization of purchased
    intangibles. HP also incurs charges relating to the amortization of
    amounts assigned to intangible assets to be used in research and
    development projects. All of those charges are included in HP's GAAP
    presentation of earnings from operations, operating margin, net
    earnings and net earnings per share. Such charges are inconsistent in
    amount and frequency and are significantly impacted by the timing and
    magnitude of HP's acquisitions. Consequently, HP excludes these
    charges for purposes of calculating these non-GAAP measures to
    facilitate a more meaningful evaluation of HP's current operating
    performance and comparisons to HP's past and future operating
    performance.
--  Restructuring charges consist of costs associated with a formal
    restructuring plan and are primarily related to (i) employee
    termination costs and benefits, and (ii) costs to vacate duplicative
    facilities. HP excludes these restructuring costs (and any reversals
    of charges recorded in prior periods) for purposes of calculating
    these non-GAAP measures because it believes that these historical
    costs do not reflect expected future operating expenses and do not
    contribute to a meaningful evaluation of HP's current operating
    performance or comparisons to HP's past and future operating
    performance.
--  HP incurs costs related to its acquisitions, most of which are treated
    as non-capitalized expenses. Because non-capitalized,
    acquisition-related expenses are inconsistent in amount and frequency
    and are significantly impacted by the timing and nature of HP's
    acquisitions, HP believes that eliminating the non-capitalized
    expenses for purposes of calculating these non-GAAP measures
    facilitates a more meaningful evaluation of HP's current operating
    performance and comparisons to HP's past and future operating
    performance.

Gross cash is a non-GAAP measure that is defined as cash and cash equivalents plus short-term investments and certain long-term investments that may be liquidated within 90 days pursuant to the terms of existing put options or similar rights. Free cash flow is defined as cash flow from operations less net capital expenditures. HP's management uses gross cash and free cash flow for the purpose of determining the amount of cash available for investment in HP's businesses, funding strategic acquisitions, repurchasing stock and other purposes. HP's management also uses gross cash and free cash flow for the purposes of evaluating HP's historical and prospective liquidity, as well as to further its own understanding of HP's segment operating results. Because gross cash includes liquid assets that are not included in GAAP cash and cash equivalents, HP believes that gross cash provides a more accurate and complete assessment of HP's liquidity and segment operating results. Because free cash flow includes the effect of capital expenditures that are not reflected in GAAP cash flow from operations, HP believes that free cash flow provides a more accurate and complete assessment of HP's liquidity and capital resources.

Material Limitations Associated with Use of Non-GAAP Financial Measures These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of HP's results as reported under GAAP. Some of the limitations in relying on these non-GAAP financial measures are:

--  Items such as amortization of purchased intangible assets, though not
    directly affecting HP's cash position, represent the loss in value of
    intangible assets over time. The expense associated with this loss in
    value is not included in non-GAAP operating profit, non-GAAP operating
    margin, non-GAAP net earnings and non-GAAP diluted earnings per share
    and therefore does not reflect the full economic effect of the loss in
    value of those intangible assets.
--  Items such as restructuring charges that are excluded from non-GAAP
    operating profit, non-GAAP operating margin, non-GAAP net earnings and
    non-GAAP diluted earnings per share can have a material impact on cash
    flows and earnings per share.
--  HP may not be able to liquidate immediately the long-term investments
    included in gross cash, which may limit the usefulness of gross cash
    as a liquidity measure.
--  Other companies may calculate non-GAAP net revenue, non-GAAP operating
    profit, non-GAAP operating margin, non-GAAP net earnings, non-GAAP
    diluted earnings per share, gross cash and free cash flow differently
    than HP does, limiting the usefulness of those measures for
    comparative purposes.

Today, Google announced the release of version 2.0 of its Google Search app for the iPhone. The new release brings a completely redesigned user interface to iOS users, something that iPad users saw late last year. The update brings heavy emphasis on performance and full-screen capabilities, specifically on picture searching.

• Complete redesign
• Major speed improvements
• Auto full screen: scroll down to hide controls, scroll up to reveal
• Beautiful full-screen image search
• Swipe away webpages to quickly return to search results
• Search within a webpage using the built-in text finder
• Easily switch between images, places, news, and more
• Fast access to Google apps like Gmail, Calendar, Docs and more all from one place

Facebook officially launched on the NASDAQ under the ticker "FB" this past Friday. In its first day of trading, the company's stock was up $0.23, but in the first two full days of trading, it's been down at least 9%.

According to a report from Reuters, the SEC and FINRA (Financial Industry Regulatory Authority) will both conduct investigations into why the Facebook stock has been performing poorly after analysts believed it would be successful. Many reports seem to point to an overvaluation on Facebook's stock, causing the significant drop over the past two days.

Investors were still shaking their heads over the botched opening trading of Facebook when Reuters reported late Monday that the consumer Internet analyst at lead underwriter Morgan Stanley cut his revenue forecasts for Facebook in the days before the offering, information that may not have reached many investors before the stock was listed.

JPMorgan Chase and Goldman Sachs, which were also underwriters on the deal, each revised their estimates during Facebook's IPO road show as well, according to sources familiar with the situation.

Reuters reported that Morgan Stanley selectively disclosed the change in Facebook estimates, which drew the attention of the main regulator of U.S. brokerages.

This doesn't seem to be stopping the team at Facebook headquarters, however. According to a report from TPM, the social network has already begun beta testing a new version of Timeline with some users. The slightly redesigned Timeline view focuses on compressing the header of the page by simplifying the tabs. In addition, the user’s name, home location, occupation, education, and other information has been moved on top of the "cover photo" on the page. Since the text is white, many are wondering how Timeline will handle lighter color cover photos.

It's unclear how far along Facebook is with testing the redesigned Timeline, and whether the design will ever see the light of day.

Current Facebook Timeline View

Updated Facebook Timeline View

Hacker group Anonymous announced yesterday that it has released about 1.7 GB of information taken from the United States Bureau of Justice. Information stolen includes internal emails and database information, and the BJS took down their website to address the security issue.

We do not stand for any government or parties, we stand for freedom of people, freedom of speech and freedom of information.

We are releasing data to spread information, to allow the people to be heard and to know the corruption in their government. We are releasing it to end the corruption that exists, and truly make those who are being oppressed free.

The price we pay very often is our own freedom. The price governments pay is the exposure of their corruption and the truth being revealed, for the truth will set us free in the end.

Google will be celebrating the 78th birthday of Robert Moog tomorrow, May 23, 2012, with a (pretty amazing) interactive Doodle on its homepage. Moog, who is best known for inventing the Moog synthesizer, has been named the "pioneer of electronic music" with his invention.

To celebrate the occasion, Google has created an interactive Moog synthesizer on its homepage where users can turn switches on and off, play sounds, and record their creations. The Doodle is currently live on the Google Australia homepage, and will be launching in the U.S. tomorrow.

Google announced today that it has finalized its acquisition of Motorola Mobility, which was first announced in August of 2011. The deal, worth $12.5 billion, required approval from the European Commission, United States, and China (among other countries) before being finalized.

As part of the deal, Motorola Mobility CEO Sanjay Jha will be stepping down from his position and will be replaced by Dennis Woodside.

Sanjay Jha, who was responsible for building the company and placing that big bet on Android, has stepped down as CEO. I would like to thank him for his efforts and am tremendously pleased that he will be working to ensure a smooth transition as long-time Googler Dennis Woodside takes over as CEO of Motorola Mobility.

According to new data released by StatCounter this morning, Google Chrome has surpassed Internet Explorer as the world's most popular web browser (in terms of usage), a spot Microsoft's browser has held every week of the year since 1998. IE has been on a steady decline over the past several years, with web browsers such as Chrome and Firefox taking up market share left behind.

According to the data, Chrome now holds a 32.76% market share worldwide, while Internet Explorer controls 31.94%. In a distant third is Mozilla Firefox at 25.47%.

YouTube announced as part of a birthday blog post today that over 72 hours of video is collectively uploaded to the website every minute.

Yahoo today announced that it will be selling half of its stake in Chinese Internet company Alibaba back to the company. Representing about 20% of Alibaba's stock, Yahoo will receive $7.1 billion in total, with a minimum of $6.3 billion in the form of cash. In addition, the two companies have reached licensing agreements. Yahoo has agreed to let Alibaba run its Yahoo! China division for at least the next four years at a sum of $550 million.

First, at the time of an initial public offering (IPO) of Alibaba in the future, Alibaba will be required either to repurchase one-quarter of Yahoo!'s current stake at the IPO price or allow Yahoo! to sell those shares in the IPO. Second, following such an IPO, Yahoo! has registration rights and rights to marketing support from Alibaba to enable Yahoo! to dispose of its remaining shares, at times of Yahoo!'s choosing following a customary lock-up period.

Popular music streaming service Spotify launched in two new locations today - Australia and New Zealand. The service, which launched in the United States back in the summer of last year, is available in Australia and New Zealand beginning today. It allows users to stream music (over 16 million tracks) for free. Subscription plans are available for users looking to ditch the periodic ads and limits on music streaming per month.

The United States International Trade Commission (ITC) announced (PDF) a ruling last week that bans the import of certain Motorola Mobility devices into the United States following the company being found of infringing upon a Microsoft-owned patent. The patent in question deals with "generating meeting requests and group scheduling from a mobile device." The ban will likely go into effect within the next 60 days, unless Motorola Mobility is able to address the issue quickly. Affected devices include the Motorola Droid RAZR, the Motorola Droid 4, and the Motorola Droid Bionic.

One day after Facebook officially became a publicly traded company on the NASDAQ under the ticker "FB," Facebook founder and CEO Mark Zuckerberg married longtime girlfriend Priscilla Chan yesterday in a private service at his Palo Alto, California home. Zuckerberg announced the news by adding a new life event on his Facebook Timeline, along with an accompanying picture of him and his new bride.

According to a report from The Associated Press, the Chinese government has approved Google's proposed $12.5 billion acquisition of Motorola Mobility, possibly opening the opportunity to close the deal that was initially announced in August of 2011 as early as next week. China was the last country that needed to approve the merger, with both the United States and European Commission approving the deal back in February.

Chinese regulators had one condition for the deal being approved: "That Google's Android operating system for mobile devices remain available to all at no cost for the next five years."

Earlier this week, Infinity Ward announced that the second "Content Collection" pack for Call of Duty: Modern Warfare 3 will be released this Tuesday, May 22, 2012 (Xbox LIVE customers only). The collection pack will include the content that has been released to Call of Duty Elite members since the last collection pack and will cost $15.

Content Collection 2 will include the following:

• Getaway (map)
• Lockout (map)
• Foundation (map)
• Sanctuary (map)
• Oasis (map)
• Iron Clad (spec ops mission)
• Kill Switch (spec ops mission)
• New achievements

Today, Facebook officially became a publicly traded company when it launched under the ticker "FB" on the NASDAQ. Also today, Facebook was hit with a class action lawsuit that claims it continues to track users' web browsing activity even after they logout of the social network. The lawsuit, which was filed in San Jose, California, is seeking nearly $15 billion in damages from Facebook.

The full press release follows:

Stewarts Law acts for facebook users who have filed a Consolidated Digital Privacy Class Action

18 May 2012 (San Jose, Calif.)

Facebook users today filed an amended consolidated class action complaint in federal court in San Jose, California in the case In re: Facebook Internet Tracking Litigation, No. 5:12-md-02314-EJD. The class action asserts federal statutory and California State causes of action related to the revelation in September 2011 that Facebook was improperly tracking the internet use of its members even after they logged out of their accounts. The action consolidates 21 related cases filed in more than a dozen states in 2011 and early 2012.

The plaintiffs assert claims under the federal Wiretap Act, which provides statutory damages per user of US$100 per day per violation, up to a maximum per user of US$10,000. Even if Facebook’s alleged actions constitute a single violation of the Wiretap Act per class member, that implies more than US$15 billion in damages across the class. The complaint also asserts claims under the Computer Fraud and Abuse Act, the Stored Communications Act, various California Statutes and California common law.

The class action is being led by court-appointed co-lead counsel Stewarts Law US LLP and Bartimus, Frickleton, Robertson & Gorny, P.C. David Straite, Partner at Stewarts Law, stated: “This is not just a damages action, but a groundbreaking digital privacy rights case that could have wide and significant legal and business implications.” In addition to co-lead counsel, the court has appointed a Plaintiffs’ Steering Committee which includes Keefe Bartels in New Jersey; Mandell, Schwartz & Boisclair in Rhode Island; Eichen Crutchlow Zaslow & McElroy in New Jersey; Bergmanis Law Firm in Missouri; Burns, Cunningham & Mackey in Alabama; and Murphy, Falcon & Murphy in Baltimore. The court has also appointed a committee of former State Attorneys General to advise the class, including former Mississippi AG Mike Moore, former Arizona AG Grant Woods, former Hawaii AG Margery Bronster, and former Louisiana AG Richard Ieyoub.

Today, Facebook officially launched its initial public offering (IPO) on the NASDAQ under the ticker "FB." The company's stock began trading at $38 after a nearly 30 minute delay from when it was initially scheduled to begin trading. The delay was reportedly due to heavy load on NASDAQ's network in preparation for the launch.

After its first day of trading, Facebook's stock ended the day at $38.23, up $0.23 from the original stock price. The number is down from the high for the day, which was about $42. While the end result wasn't as high as most investors and analysts believed it would be, the IPO still put Facebook at a $104 billion valuation.

According to a report from Bloomberg, Hewlett-Packard (HP) is considering to layoff nearly 8% of its total workforce, equivalent to about 25,000 employees. The move comes as the company is going through a minor transition period and attempts to reduce costs as struggles in sales continue.

The number to be cut includes 10,000 to 15,000 from Hewlett-Packard’s enterprise services group, which sells a range of information-technology services and has been beset by declining profitability, said these people, who asked not to be identified because the plans aren’t final and may change.

Yesterday, news broke that Verizon Wireless would be axing the unlimited data plan option for existing customers. Last year, the carrier introduced tiered data plan options, but allowed existing customers to be "grandfathered" in and keep their unlimited data plan. The move would force any customer to switch to a tiered data plan.

Today, Verizon Wireless made some clarifications to the upcoming change to The New York Times. The company stated that customers who upgrade their line with a subsidized price will be the only ones forced to switch to a tiered data plan. If a customer doesn't upgrade their line or chooses to buy a new device at an unsubsidized price, they will be able to keep the unlimited data plan.

- Customers will not be automatically moved to new shared data plans. If a 3G or 4G smartphone customer is on an unlimited plan now and they do not want to change their plan, they will not have to do so.

- When we introduce our new shared data plans, Unlimited Data will no longer be available to customers when purchasing handsets at discounted pricing.

- Customers who purchase phones at full retail price and are on an unlimited smartphone data plan will be able to keep that plan.

- The same pricing and policies will be applied to all 3G and 4GLTE smartphones.

Today, Facebook announced that the share price of its initial public offering that will be launching on the NASDAQ tomorrow morning will be $38. As a result, the company will be placed at a $104 billion valuation and will raise around $16 billion, both of these numbers are significantly higher than expected. Facebook will be offering a total of 421,233,615 shares of common stock. This IPO will be the largest in technology history.

The full press release follows:

Facebook Announces Pricing of Initial Public Offering

MENLO PARK, Calif., May 17, 2012 /PRNewswire/ — Facebook (NASDAQ: FB) today announced the pricing of its initial public offering of 421,233,615 shares of its common stock at a price to the public of $38 per share. The shares are expected to begin trading on the NASDAQ Global Select Market on May 18, 2012, under the symbol “FB.” Facebook is offering 180,000,000 shares of Class A common stock and selling stockholders are offering 241,233,615 shares of Class A common stock. Closing of the offering is expected to occur on May 22, 2012, subject to customary closing conditions.

In addition, Facebook and the selling stockholders have granted the underwriters a 30-day option to purchase up to 63,185,042 additional shares of Class A common stock to cover over-allotments, if any.

Morgan Stanley, J.P. Morgan, Goldman, Sachs & Co., BofA Merrill Lynch, Barclays, Allen & Company LLC, Citigroup, Credit Suisse and Deutsche Bank Securities are serving as book runners for the offering. RBC Capital Markets and Wells Fargo Securities are serving as active co-managers.

The offering will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained from: Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department (Tel: +1 866 718 1649; e-mail: prospectus(at)morganstanley.com); J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, (Tel: +1 866 803 9204); or Goldman, Sachs & Co., 200 West Street, New York, NY 10282, Attention: Prospectus Department (Tel: +1 866 471 2526, e-mail: prospectus-ny(at)ny.email.gs.com).

A registration statement related to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Today, Comcast launched a new service for its Xfinity brand - Skype. Skype on Xfinity is now available for use by customers in the Boston and Seattle areas, with Atlanta, Augusta, Ga., Chicago, Detroit, Harrisburg, Pa., Indianapolis, Miami and Pittsburgh coming by the end of this week. Customers willing to pay $9.95/month can add Skype to their Xfinity plan and use text and video chatting services. The cost also includes a camera and a Skype remote that includes a keyboard for text chatting.

According to a report from The Associated Press, Facebook has announced yet another update to its initial public offering that is expected to be launched this Friday, May 18. This time, Facebook revealed that it has added an extra 84 million shares into its stock pool, all of which will be coming from early investors and internal people from the company.

Facebook plans to offer each share at somewhere between $34-$38, possibly raising a much-higher-than-expected $16 billion.

According to The Verge, United States Customs officials have delayed the shipments of HTC's new One X and EVO 4G LTE smartphones into the U.S. as they investigate possible patent infringements on the devices. The patents in question are supposedly the same ones that were involved in a lawsuit Apple won last December. The ruling from the court said that HTC would have to stop importing all affected devices into the U.S. by April.

We've learned today that the One X and Evo 4G LTE are indefinitely delayed at Customs as the agency investigates patent issues with Apple, and sources have further confirmed that some shipments are indeed being held back. The One X is also currently out of stock at AT&T's online store and at most AT&T retail stores we've called — and few had any information on when more units would arrive.

HTC released the following statement:

The US availability of the HTC One X and HTC EVO 4G LTE has been delayed due to a standard U.S. Customs review of shipments that is required after an ITC exclusion order. We believe we are in compliance with the ruling and HTC is working closely with Customs to secure approval. The HTC One X and HTC Evo 4G LTE have been received enthusiastically by customers and we appreciate their patience as we work to get these products into their hands as soon as possible.

According to Fierce Wireless, Verizon Communications CFO Fran Shammo spoke at a JP Morgan conference, announcing the company's plans to axe the unlimited data plan option for customers. Last year, Verizon introduced tiered data plan options for new customers, but existing customers had the option of being grandfathered in and keep their unlimited data plan at $30/month.

Shammo says that Verizon Wireless customers still on 3G devices will need to switch to a tiered data plan option once they upgrade their line to a 4G LTE device. Those who remain on their 3G device will continue to use unlimited data (for the time being at least).

The questions arise, however, when talking about Verizon's plans to introduce family data plans this summer. The company is reportedly planning to force users hoping to use a family data plan to upgrade their devices to all 4G LTE, thus forcing the move to tiered data plans. It's unclear when this would happen, and whether Verizon will truly force users to switch plans.

As these 3G unlimited data plan customers migrate to 4G LTE, they will have to purchase the company's data-share plan (which Verizon plans to launch in mid-summer) and move off the $30 per month unlimited data plan. "Everyone will be on data share," Shammo said.

Today, Google introduced a new feature to its search engine that is dubbed "Knowledge Graph." The technology takes user input as a whole, rather than separate words and strings like it has been in the past. Knowledge Graph will allow users to narrow their search results down to exactly what they're looking for, get a summary of information on the right-hand side of the page, and pick out small details related to search queries.

The Knowledge Graph enables you to search for things, people or places that Google knows about—landmarks, celebrities, cities, sports teams, buildings, geographical features, movies, celestial objects, works of art and more—and instantly get information that’s relevant to your query. This is a critical first step towards building the next generation of search, which taps into the collective intelligence of the web and understands the world a bit more like people do.

Google has already begun rolling out Knowledge Graph to users, and it will soon be available on mobile devices as well.

Apple has just released an update to developers running on OS X Mountain Lion Developer Preview 3, bringing the build number of the upcoming OS to 12A206j. The update has been released via the Mac App Store and weighs in at about 1.60 GB. Apple is noting in developer release notes that this build is not compatible with "MacBookPro3,1" models (mid and late 2007 computers), but this issue will be corrected in the future.

At this time, it's unclear what changes are included in this most recent seed. Apple is expected to give a full preview of OS X Mountain Lion at its Worldwide Developers Conference next month. A public release is scheduled for "late summer."

Today, Google released the first Stable version of Chrome 19 to the public, adding tab syncing across multiple devices when users are signed into Chrome with a Gmail account. When a user is signed in, all their open tabs appear under a new menu on the "New Tab" page in Chrome called "Other Devices."

The Stable version update will be rolled out to existing Chrome users over the coming days.

Popular Android photo sharing service Lightbox announced today that it has been acquired by Facebook. The company's team of seven (7) will be joining Facebook, while the service itself will be functioning until June 15. Users have until that date to download their photos from Lightbox. The Android app has already been removed from Google Play, and new user sign ups aren't being accepted at this point.

Terms of the deal were not disclosed to the public.

The memo, in its entirety, is below:

Dear colleagues,

Since the beginning of the year, T-Mobile has stressed that 2012 is a rebuilding year for the company. A vital step in that process was announced in March with the consolidation of our call centers. This week, T-Mobile is taking the second essential step. We are announcing a new structure that further aligns our costs with our revenue realities, enables teams who support our field organization to act and react with greater speed and effectiveness to customer and market opportunities, and better positions us to return to growth.

The new organization required difficult decisions that will impact some of our employees. This week, news will be shared personally with employees and teams who are directly affected by the restructuring. Changes will include some position eliminations and changes to individual roles and responsibilities. It is important to emphasize these impacts to employees result from business decisions. We have tremendous employees here at T-Mobile and we truly wish we could retain all our talent, but our business realities require hard choices. For affected team members, we are providing generous transition support including severance, assistance with COBRA continuation coverage, and outplacement services. As mentioned in the March announcement, customer service representatives in the remaining 17 call centers, technicians in engineering, and frontline employees in our T-Mobile corporate-owned stores will not be affected.

Our rebuilt structure enables T-Mobile to realize significant savings, allowing us to invest in future growth — in particular modernizing our network to LTE, repositioning the T-Mobile brand, and aggressively pursuing the B2B segment where we plan to add 1,000 positions over the next few years. We gain the agility to put resources where the current opportunities are, grow in areas where potential is greatest, and act on emerging opportunities quickly and rationally.

The restructuring provides a sustainable organizational model, centered on our T-Mobile Values, with the following attributes:

A greater focus on driving Customer Delight by reducing the layers between working teams and executive leadership, and shifting and consolidating groups in the field sales regions and the FSC to minimize redundant work — resulting in more effective coordination and communication.

A renewed emphasis on Best Place to Perform and Grow:
Enhanced people manager spans of control (number of direct reports), enabling faster decisions, more ability to execute, and more empowerment of employees at all levels.
Evolution of our leadership model from player-coach, where more time is spent on daily tasks than on planning and guiding, to leader-coach, where time is focused more strategically on coaching, developing, delegating, and motivating.

We approached the restructuring process and decisions with care, rigor and cross-functional alignment. A team comprised of top leaders, with support from industry-leading subject matter experts, worked closely together over the past few months to develop an effective and sustainable structure. We strongly believe the organizational principles we applied are lasting ones. More details on the new organizational structure will be shared in department and team communications this week and more broadly after that.

I want to assure you we will move through the communications this week very thoughtfully, but also as quickly as we can while preserving the quality of the conversations that need to happen. As always, our T-Mobile Values will guide our actions.

Thank you for your patience as we work through what will be a difficult week. Thank you for your continued commitment.

With sincere appreciation,

Philipp Humm
CEO & President
T-Mobile USA

Earlier today, Best Buy released the results of an internal investigation it conducted on company founder and Chairman of the Board Richard Schulze. The investigation found that Schulze was aware now former Best Buy CEO Brian Dunn had an inappropriate relationship with an employee of the company, but failed to report it. Schulze resigned shortly after the details of the investigation were released.

Schulze released the following statement:

"In December, when the conduct of our then-CEO was brought to my attention, I confronted him with the allegations (which he denied), told him his conduct was totally unacceptable and contrary to Best Buy's policies and everything I, and the Company, stand for. I understand and accept the findings of the Audit Committee."

Investigation details:

Key findings of the investigation include:

• The CEO violated Company policy by engaging in an extremely close personal relationship with a female employee that negatively impacted the work environment.
• The CEO's relationship with the female employee demonstrated extremely poor judgment and a lack of professionalism, but the inquiry revealed no misuse of Company resources. The inquiry also revealed no misuse of aircraft.
• In addition, as part of the investigation, it was determined that the Chairman of the Board of Directors acted inappropriately when he failed to bring the matter to the Audit Committee of the Board of Directors in December 2011, when the allegations were first raised with him.

The Best Buy Board of Directors has elected Hatim Tyabji to replace Schulze.

Earlier today, the SEC released Facebook's seventh (7) amendment to its initial public offering filing. In the new filing, Facebook readjusted the projected share price from the previous $28-$35 to $34-$38, bringing the company's valuation well above the prior projected value of $100 billion. In addition, Facebook has upped the amount of shares it will be trading to 337 million.

In addition, Facebook has confirmed previous rumors that its $1 billion acquisition of Instagram has been delayed. The social network was planning to complete the deal sometime in the second quarter of this year, but the new documents point to the deal closing sometime in 2012.

Facebook's stock will appear on the NASDAQ under the ticker "FB." The company's IPO is expected to launch this Friday, May 18, 2012.

Yahoo has just announced that it will be naming Ross Levinsohn as interim Chief Executive Officer (CEO) of the company following word earlier this morning that Scott Thompson had stepped down from the position. Thompson was accused earlier this month of lying on his resume when he was hired as Yahoo CEO in January of this year. In addition, Yahoo has named Fred Amoroso as Chairman of the Board of Directors, replacing Roy Bostock.

As a part of the settlement agreement, Third Point, which owns an aggregate of 70,545,400 shares, or 5.8% of Yahoo! common stock, has agreed to withdraw its previous Board nominations for consideration at the annual meeting and vote its shares in support of Yahoo!'s nominees. Yahoo!'s slate of director nominees for election or re-election at the 2012 annual meeting of stockholders will now include Fred Amoroso, John Hayes, Peter Liguori, Thomas McInerney, Maynard Webb, Sue James, David Kenny, Brad Smith, Daniel S. Loeb, Harry J. Wilson and Michael J. Wolf.

As interim CEO, Mr. Levinsohn will manage the Company's day-to-day operations with assistance from Yahoo!'s existing senior leadership team.

To celebrate Mother's Day, Google has placed a heart-warming animated Doodle on its homepage. The Doodle portrays the mom character as a "g" and her two children as two "o's" as a spin-off of the regular Google logo. The "o's" are animated and walk over to hug the "g" and the rest of the Google logo fades in.

According to a report from The Bangkok Post, Hewlett-Packard (HP) CEO Meg Whitman confirmed at the Global Influencer Summit that the company will be re-entering the tablet market with a Windows 8 device sometime in the future. This comes after HP abruptly discontinued its TouchPad tablet last year following poor sales. The tablet ran on webOS, which HP acquired from Palm in the prior year.

Not much else is known about the Windows 8 tablet from HP, other than that it is in existence. Windows 8 is expected to be released to consumers sometime in the fall of this year.

According to Mashable, Facebook has begun rolling out the ability to upload files in Groups. The feature, which is somewhat a competitor to Dropbox, allows users to upload files smaller than 25 MB, but no music files or executable (.exe) files are allowed. Most other files types will be allowed, however.

To prevent the spread of malicious, inappropriate or copyrighted files, “users can report files the same way they can with other content across the site,” a Facebook spokesperson said. Whether a group that wants to share such things will willingly turn itself in remains to be seen.

It's unclear when all Facebook Groups will receive this feature, but the social network says that it should be "soon."

According to a report from China Daily, Foxconn chairman Terry Gou addressed Apple's long-rumored high-definition television set at a press conference in Shanghai yesterday. Gou apparently confirmed that Foxconn has already begun making preparations for the product, which includes a partnership with Sharp for LCD displays. Actual production of the "iTV" has not begun, however.

Gou said Foxconn is making preparations for iTV, Apple Inc's rumored upcoming high-definition television, although development or manufacturing has yet to begin.

iTV reportedly features an aluminum construction, Siri, and FaceTime video calling

Foxconn's recent 50-50 joint venture factory with Sharp in Japan is one of the preparations made for the new device, Gou added.

We’ve independently confirmed that this is indeed the case. Sources describe the new Maps app as a forthcoming tent-pole feature of iOS that will, in the words of one, “blow your head off.” I’m not quite sure what that means, and the source in question declined to elaborate, but it’s likely a reference to the photorealistic 3-D mapping tech Apple acquired when it purchased C3 Technologies.

The new Bing should be rolling out the world sometime in the coming weeks.

According to a report from Bloomberg, T-Mobile's parent company, Deutsche Telekom, is reportedly in talks with MetroPCS about merging T-Mobile with the carrier. T-Mobile, the fourth largest carrier in the United States, has been struggling over the past couple of years, and has been looking for options ever since its acquisition by AT&T fell through.

Other options reportedly include an outright sale of the company.

Deutsche Telekom is considering a stock-swap transaction that would give the German company control over the combined entity, which would be publicly listed, said two of the people, who declined to be identified because the talks are private. Other options include an initial public offering or an outright sale of T-Mobile USA, the people said, adding that Deutsche Telekom is also in talks with other companies. MetroPCS shares jumped 14 percent in New York trading yesterday.

Today, Facebook announced to developers that it will be launching its own "App Center" over the coming weeks that will act as a centralized place to discover new apps. The app center, which is designed to compete with Apple's App Store and Google Play, includes ratings and details for each app. Developers will also be able to charge for apps for the first time on the social network. The app center will work on Facebook.com, and the iOS and Android versions of the mobile app. Developers will be required to use Facebook's login system if needed.

There isn't any word on when the service will be launching to the public.