Stocks to Watch: Hewlett-Packard, Dell (Update 1)
NEW YORK --
Hewlett-Packard
, the computer and printer maker, reports earnings after Wednesday's closing bell and an announcement could be made on a restructuring plan that may include the elimination of as many as 30,000 jobs.
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Analysts expect HP to report fiscal second-quarter earnings of 91 cents a share on revenue of $29.92 billion.
Computer maker
Dell
(DELL) - Get Dell Technologies Inc Class C Report
fell short of analysts' expectations on both the top and bottom lines in its
.
Dell also provided second-quarter revenue guidance below analysts' views. Dell predicts revenue of between $14.69 billion and $15 billion; analysts are looking for sales of $15.42 billion.
Shares of Dell dropped 12.8% to $13.15 in premarket trading Wednesday.
Toll Brothers
(TOL) - Get Toll Brothers, Inc. Report
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, the homebuilder, posted second-quarter profit of 10 cents a share, a swing from a year-earlier loss of 12 cents.
The latest quarter included a tax benefit of $1.2 million.
Revenue rose to $373.7 million from $319.7 million.
Analysts expected Toll to report earnings of 3 cents a share on revenue of $381 million.
Toll Brothers shares ticked up a penny, or 0.04%, to $27.04 in premarket trading Wednesday.
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SAP
(SAP) - Get SAP SE Report
, the German IT services giant, said Tuesday it reached an
agreement
to buy
Ariba
(ARBA)
for $4.3 billion.
SAP's offer of $45 a share offer represents a 20% premium to Ariba's closing price on Monday.
The deal is expected to close in the third quarter.
Shares of SAP fell 12 cents, or 0.2%, in premarket trading Wednesday to $58.57. Ariba was off 9 cents to $44.78.
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American Eagle Outfitters
(AEO) - Get American Eagle Outfitters, Inc. Report
is expected by analysts Wednesday to report fiscal first-quarter earnings of 20 cents a share on sales of $719 million.
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Monsanto
(MON)
announced Wednesday that it is purchasing
Precision Planting
, a planting technology developer, for $210 million plus a performance-based payment of as much as $40 million.
-- Written by Joseph Woelfel
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