This Day On The Street
Continue to site
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

HP, Urban Outfitters: After-Hours Trading

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

NEW YORK ( TheStreet) -- Shares of Hewlett-Packard (HPQ - Get Report) 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 - Get Report) 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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
HPQ $28.00 0.00%
URBN $30.79 0.00%
AAPL $112.34 0.00%
FB $89.89 0.00%
GOOG $614.34 0.00%

Markets

Chart of I:DJI
DOW 16,351.38 +293.03 1.82%
S&P 500 1,948.86 +35.01 1.83%
NASDAQ 4,749.9790 +113.8740 2.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs