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Quite a rocky ride on wednesday after this hoax. let's see if that will come up. there we go. you'll see the roller coaster ride in the session. at around 10:21 in the morning, around this time, the associated press in new york kill the story once it realized it was a hoax. the ap has thousands of news clients. at one point, ge's market capitalization fell by $3.5 billion and by the close of trade, ge had fallen 1.6% from its pre-open high. it could have been much worse. nina? >> well, pauline, we're heading to a quick break but up ahead we'll be talking about bp and hp, two companies that are...

Competition with cisco. >> cisco is retrenching as we speak. they're getting out of the flip video business. they seem to be acknowledging that maybe they made a mistake getting into the consumer business in the first place. you compete with cisco on they're making servers, you bought 3com. >> we bought 3com to strengthen our offer and the networking business in hp is a very, very strong business. it's going double digit every quarter. we're doing very, very well. we're getting market share ever quarter significantly. and we are probably one of the reasons why cisco is retrenching. that compet...

That doesn't work. we are about creating value in the most efficient way possible. by the way, there's still a lot of inefficiencies that we can deal with inside hp. >> what's an example of that? >> we have to be quality. when it comes to innovation, we have to bring innovation much faster to market. that's efficiency we can drive and we are driving it. there are programs in place to address these in a straightforward manner. i'm very much committed to that. people respond very well to these ideas. they rise to the challenge. we have great people in hp globally. and i believe that you'll see h...

To receive that as shares in bp. that's something also the bp shareholders have bulked at, having a large percentage of their stock being owned by these russian oligarchs. >> pauline? we've been talking about cisco lately and the flip cam flopped. the company is also facing tough competition. up next, we talk to one of their big rivals, the ceo of hewlett-packard about his recipe for success and what he thinks about cisco's change of strategy. and also, the royal fairy tale makes it on to the small screen. will it get the royal treatment from movie critics? that's just ahead. ♪ now the h...