This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

HP, Urban Outfitters: After-Hours Trading

Stocks in this article: HPQ URBN GFRE

Updated with HP's announcement it would release earnings Tuesday morning

NEW YORK ( TheStreet) -- Shares of Hewlett-Packard (HPQ) slumped in late trades after the company's top executive telegraphed a lackluster quarter to upper-level management, according to multiple media reports.

Chief Executive Officer Leo Apotheker reportedly circulated a letter on May 4 saying HP is in for "another tough quarter" and stressing the necessity of "watching every penny," Barron's said.



Bloomberg initially reported the memo, quoting Apotheker as saying the company's existing headcount plans are "unaffordable given the pressures on our business."

HP moved it earnings report up to Tuesday morning; it was originally scheduled for after the markets closed on Wednesday.

The stock was last quoted at $37.80, down 5%, on after-hours volume of 1.4 million, according to Nasdaq.com. Based on Monday's regular session close at $39.80, the shares have fallen 4% since the start of 2011.

HP reported its fiscal first-quarter results on Feb. 22, and forecast non-GAAP earnings of $1.19 to $1.21 per share for its fiscal second quarter ended in April. At the time, that view was below Wall Street's consensus estimate of $1.25 a share.

Wall Street is still pretty bullish on the Dow component with 26 of the 35 analysts covering the stock rating it at either strong buy (11) or buy (15).

Urban Outfitters

Shares of Urban Outfitters (URBN) ticked higher in late trades after the Philadelphia-based specialty retailer came in a penny short of the average analysts' profit view for its fiscal first quarter but exceeded sales estimates.

The company reported earnings of $38.6 million, or 23 cents a share, for the three months ended April 30 on net sales of $524 million, down from a year-ago profit of $53 million, or 31 cents a share, on net sales of $480 million.

The average estimate of analysts polled by Thomson Reuters was for earnings of 24 cents a share in the April period on sales of $521.7 million.

"I am confident that we are on the right course to bring our business back to its high standards," said Glen Senk, the company's CEO, in a statement. "I am encouraged by the progress each of the brands have made and anticipate improvements to occur gradually during the balance of this fiscal year."

The shares was last quoted at $32.44, up 15 cents, on volume of 664,000, although that's down from an after-hours high of $33.63. Year-to-date, the stock is down about 9%.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs