After the bell, there was a flurry of activity as numerous companies reported their quarterly numbers.
The most prominent was computer maker
, which announced that earnings per share for its first quarter of 1997 were 87 cents compared with
estimates of 75 cents. In after-hours trading HP was up 1 7/8 to 51 3/8, according to
Meanwhile, Lewis Platt, HP's chairman, president and chief executive, made a series of cautious comments about the competitive landscape in the computer business. He said that HP will manage its expenses and assets carefully to deal with the "extremely challenging" market ahead.
, a manufacturer of implantable medical devices, announced that earnings per share for its third quarter were 54 cents, 2 cents below the 56 cents that Wall Street analysts were expecting, according to First Call.
met expectations for a loss of 4 cents per share for its 1996 fourth quarter. In the same quarter last year, the company reported a loss of 35 cents.
announced earnings for its third quarter ended in January of 36 cents per share, compared with First Call estimates of 38 cents. Last year, the company made 31 cents in the third quarter.
announced that George Oram had resigned as president and chief operating officer. The move was said to be for personal reasons. It couldn't help that Orthologic's stock has dropped from 25 3/8 on June 12, 1996, to 6 1/2 on Tuesday.
By Avi Stieglitz