Now Compuware is looking to spin it off through an initial public stock offering.

FORBES: Covisint Didn't Die; It Just Went To The Cloud

Though Hastings later announced that Netflix was canceling its plan to spin off its DVD unit, the stock carnage continued.

FORBES: Netflix CEO Reed Hastings Blew $12 Billion In Market Cap. Why We Should Listen To Him About Education

The rocky public relations that Netflix has weathered with a price hike and then a blundered effort to spin off its DVD rental service to a different site also sent shares in the Nasdaq stock down 21%.

FORBES: Analyst To Abercrombie: Show Us What You've Got

News Corp. stock was up 1.91% at close of market after an initial dip when word of the spin-off hit headlines on Thursday.

FORBES: What Scientology Scandal? Days After News Corp. Split, Murdoch Gets Even Richer