Boding unwell for tomorrow's trading, shares of
tumbled as low as 75 1/2 from a close of 88 3/4 in after-hours trading following the release of disappointing fourth-quarter revenue figures. The PC maker reported revenue of $5.17 billion, up from the year-ago $3.74 billion but below top-line targets by about $413 million. Dell did, however, post quarter earnings in line with the 31-analyst
prediction of 31 cents a share, 11 cents above the year-ago figure, and set a 2-for-1 stock split. The split is Dell's seventh in as many years.
The stock dropped last week on worries revenue figures would miss estimates. Some analysts lowered revenue forecasts, citing weaker sales and lower average selling prices because of increased competition from
Speaking of H-P, the company posted first-quarter earnings of 92 cents a share, 9 cents above the 21-analyst outlook and ahead of the year-ago 86 cents. H-P said it sees a "tough comparison" between its current second-quarter and year-ago figures and that it expects growth of a mid-single digit. Analysts called for second-quarter earnings of 77 cents vs. the year-ago 65 cents. Shares of Hewlett-Packard fell to 70 1/2 from a close of 73 1/4 in late composite trading. (
previewed Dell's and H-P's announcements in a
story this morning and carried an updated
report this evening.)
Elsewhere in tonight's big-tech earnings reports,
rose to 68 1/2 in after-hours trading from a close of 67 7/8 following an upside first-quarter report. The company posted earnings of 11 cents a share, topping the 24-analyst forecast for 6 cents but falling behind the year-ago 52 cents.
Japanese software and investment company
disclosed that it sold 3 million shares of
today for $410 million, or $136.67 a share. Softbank reaped a profit of $390 million on the sale, which reduces its stake in Yahoo! to 28% from 30% but keeps it the Web giant's largest shareholder.
on a date yet to be announced.
is acquiring TCI.
In other postclose news (earnings estimates from First Call; earnings reported on a diluted basis unless otherwise specified):
Earnings/revenue reports and previews
warned its fourth-quarter results could be as low as a loss of 4 cents a share. The three-analyst forecast called for earnings of 12 cents vs. the year-ago profit of 15 cents.
said it sees first-quarter earnings beating the year-ago 43 cents a share, reflecting sooner-than-anticipated savings from a restructuring program and reduced costs for raw materials. The six-analyst forecast calls for earnings of 45 cents this quarter.
said third-quarter revenue from its newly-acquired
Arterial Vascular Engineering
unit fell below its expectations. The company added it doesn't expect the merger to add to third-quarter results due to weaker-than-expected U.S. stent sales and higher-than anticipated costs. The 28-analyst estimate called for third-quarter earnings of 39 cents a share vs. the year-ago 2 cents.
reported a fourth-quarter net loss of 53 cents a share, including several charges. The seven-analyst outlook called for an operating loss of 4 cents vs. the year-ago profit of 18 cents.
In other earnings news:
Mergers, acquisitions and joint ventures
said it agreed to provide
with $40 million in financing and may buy the company in the future.
bought 7% of
stock for $5 million.
, which publishes the
Weekly World News
, agreed to be acquired by an affiliate of privately held
Evercore Capital Partners
for $767 million. ENQ shareholders will receive $7 a share.
Offerings and stock actions
set a $230 million stock buyback program.
will hold a press conference at 11 a.m. EST tomorrow to discuss the U.S. agenda for this weekend's
finance ministers meeting in Bonn, Germany.
Affiliated Computer Services
added CEO to President Jeffrey Rich's title. He will succeed founder and Chairman Darwin Deason.
said it was awarded a $1.84 billion contract from the
involving 30 advanced F-18 U.S. warplanes.
said its CEO and president, Ken Orton, resigned. Founder and Chairman Jim Hornthal will serve as interim chief executive until a permanent replacement is found.