Although its latest quarterly profit topped the consensus view, HP said it expects earnings of 88 to 91 cents per share for the current three-month period ending in April, below the average estimate of analysts polled by Thomson Reuters for a profit of 95 cents a share.
The stock, which was down more than 30% but had bounced 14% year-to-date, was last quoted at $28.56, down 1.3%, on late volume of 3.6 million, according to Nasdaq.com.Check out TheStreet's quote page for HP for year-to-date share performance, analyst ratings, earnings estimates and much more. Another big mover in after-hours action was Polypore International (PPO), whose quarterly earnings were light. The Charlotte, N.C.-based maker of filtration products that are used in lithium batteries and for medical and industrial applications also forecast a sequential decline in its results in the current quarter because of "some headwinds" that have cropped up. The stock was last quoted at $37.45, down 14%, on volume of nearly 600,000, according to Nasdaq.com. Based on Wednesday's regular-session close at $43.52, the shares were down around 13% for the past year, but they had bounced significantly since scraping a 52-week low of $36.60 on Jan. 31. Check out TheStreet's quote page for Polypore for year-to-date share performance, analyst ratings, earnings estimates and much more. And finally, Analog Devices (ADI) fell back in the extended session after the Norwood, Mass.-based chip maker came in light on both the top and bottom lines in its fiscal first quarter ended in January, reporting earnings of 46 cents a share on revenue of $648.1 million vs. the consensus view for a profit of 48 cents a share on revenue of $662.3 million. The shares were off 2.6% to $38.80 on volume of around 200,000 after the bell despite news that the company's board had approved a 20% increase in the quarterly dividend to 30 cents a share. Jerald Fishman, the president and CEO of Analog Devices, expressed some optimism about the second quarter as well. Late in the first quarter, order rates began to accelerate and have remained solid so far this quarter," he said in a press release. "This leads us to believe that the first quarter marked the bottom of this industry cycle and we expect our business will improve beginning in the second quarter." --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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