NEW YORK -- Dell (DELL), the PC maker, came up short Thursday in its latest quarter and gave a lackluster outlook.
Dell posted third-quarter non-GAAP profit of $679 million, or 39 cents a share, on revenue of $13.72 billion, below analysts' expectations of earnings of 40 cents a share on revenue of $13.89 billion.
Dell said it expects a "challenging macro-economic environment" to continue into the fourth quarter and forecast sequential revenue growth of 2%-5% for the January-ending period, implying revenue of $13.99 billion to $14.41 billion. Analysts forecast revenue of $14.48 billion in the quarter. For the full year, Dell stuck to its forecast for non-GAAP earnings of at least $1.70 a share, below the analysts' estimate of $1.73 a share.
Dell shares were down 2% in premarket trading Friday to $9.37.Dell Falls on Q3 Earnings Miss
Sears Holdings (SHLD) , the department store operator, posted a quarterly loss Thursday of $498 million, or $4.70 a share, on revenue of $8.86 billion, wider than its year-earlier loss of $421 million, or $3.95 a share, on revenue of $9.41 billion. Christmas Wars: Amazon vs. Wal-Mart
Gap (GPS) hiked its full-year earnings outlook after reporting a jump in third-quarter profit and and increase in Gap North America same-store sales. Gap shares rose 5.83% to $35.20 in premarket trading Friday.
Foot Locker (FL), the athletic footwear and apparel retailer, posted third-quarter adjusted earnings of 63 cents a share on revenue of $1.52 billion. Analysts called for a profit of 54 cents a share in the October-ended period on revenue of $1.47 billion. Shares rose 6.75% to $34 in premarket trading.
J.M. Smucker (SJM) posted fiscal second-quarter adjusted earnings of $1.45 a share on sales of $1.63 billion.; analysts were calling for earnings of $1.41 a share. Smucker shares were unchanged in premarket trading at $85.38.
Schiff Nutrition International (SHF) received a buyout bid Thursday of $1.4 billion from Reckitt Benckiser. The bid of $42 a share tops a bid of $34 a share that Schiff, the vitamin maker, received from Bayer on Oct. 30. Schiff shares closed Thursday at $33.92.
Google (GOOG) has held talks with Dish Network (DISH) in recent weeks to partner on a new wireless service that would rival the networks of wireless carriers such as AT&T and Verizon Wireless, according to people familiar with the discussions, The Wall Street Journal reported. The talks between Dish and Google aren't advanced and could amount to nothing, one of the people told the newspaper.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV