This Day On The Street
Continue to site
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 to Watch: Dell, J.C. Penney, Autodesk

NEW YORK -- Dell (DELL) posted earnings on Thursday that came in below analysts' forecasts but the PC maker's revenue topped estimates.

Dell's Enterprise Solutions group booked a solid increase in revenue during the quarter, while hardware sales were dismal.

The company posted adjusted earnings of 21 cents a share, falling short of analysts' estimates of 35 cents a share. Dell reported first-quarter revenue of $14.1 billion, a 2% decrease from the prior year, but higher than consensus expectations of $13.5 billion.

The Enterprise Solutions group's successful first quarter threw weight behind activist investor Carl Icahn's bid to overtake Silver Lake Partners and founder Michael Dell's $13.65 a share offer to take the PC maker private. The numbers highlighted Icahn's argument that Dell's bid sharply undervalued the company's potential to become a serious enterprise computing company.

Meanwhile, the poor performance in hardware sales during the quarter gave credence to Dell's argument that a turnaround can't occur under the harsh light of the public eye, where calls for spinoffs have grown louder.

Icahn and Dell Both Gain From Dell Earnings

J.C. Penney (JCP - Get Report) on Thursday posted a first-quarter loss of $348 million, or $1.58 a share.

The adjusted loss for the quarter totaled $289 million, or $1.31 a share, which includes charges related to the retailer's restructuring and management transition.

The retailer disclosed last week that total sales for the quarter fell 16.4% from last year to $2.64 billion. J.C. Penney also said comparable-store sales declined by about 16.6% during the quarter.

JCPenney Reports Loss, Tumbles After-Market

Nordstrom (JWN - Get Report) said Thursday that net income in the first quarter declined 3%, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest.

The retailer also lowered its revenue guidance for the year.

Autodesk's (ADSK - Get Report) adjusted first-quarter earnings were below Wall Street expectations, revenue declined 3%, and the software company on Thursday issued a weak second-quarter forecast.

Adjusted earnings were 42 cents a share. Revenue fell to $570.4 million from $588.6 million a year earlier,

Analysts were calling for earnings of 45 cents a share on revenue of $583.6 million.

Aruba Networks (ARUN), the wireless communications company, posted a loss in its fiscal third quarter as customers delayed orders because of the weak global economy.

Stage Stores (SSI) is expected by Wall Street on Friday to post first-quarter earnings of 9 cents a share.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to:
Copyright 2013 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
DELL $0.00 0.00%
ARUN $0.00 0.00%
ADSK $59.82 0.00%
JWN $51.13 0.00%
JCP $9.28 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs