Dell, PetSmart: After-Hours Headlines

NEW YORK ( TheStreet) -- Here's a roundup of the stocks making news after Tuesday's closing bell:

Dell

Shares of Dell ( DELL) were casting a pall over the tech sector in extended trades after the PC giant fell short of Wall Street's expectations on both the top and bottom lines in its latest quarter.

The stock was last quoted at $13.30, down 12%, on volume of more than 4 million, according to Nasdaq.com.

The company -- which attributed its performance to a "challenging environment" -- also gave tepid second-quarter guidance, predicting revenue between $14.69 billion and $15 billion. Analysts surveyed by Thomson Reuters are looking for sales of $15.42 billion.

The news weighed on the other tech bellwethers tied to the PC industry with Intel ( INTC) down 1%; Microsoft ( MSFT) off 0.50%; and Hewlett-Packard ( HPQ), which lost 2.5%.

PetSmart

Shares of Petsmart ( PETM) gained nearly 10% in late trades after the specialty retailer delivered an above-consensus quarterly profit as same-store sales jumped 7.4%.

The Phoenix-based pet products seller reported first-quarter earnings of $95 million, or 85 cents a share, on sales totaling $1.63 billion, up 9.4% year-over-year. The average estimate of analysts polled by Thomson Reuters was for a profit of 73 cents a share in the April-ended period on sales of $1.59 billion.

For its fiscal second quarter ending in July, PetSmart sees earnings of 61 to 65 cents a share with same-store sales rising in the mid-single digit percentage range. Wall Street's consensus view is for a profit of 65 cents a share. The company lifted its full-year outlook to earnings of $3.19 to $3.36 a share from a prior projection of $3.02 to $3.16 a share.

The stock was last quoted at $60.65, up 9%, on volume of more than 230,000, according to Nasdaq.com.

Guess?

Shares of Guess? ( GES) were surging after the Los Angeles-based apparel company handily beat Wall Street's expectations for its first-quarter results.

The company reported first-quarter earnings of $26.6 million, or 30 cents a share, on revenue of $579.3 million, ahead of the consensus view for a profit of 26 cents a share on revenue of $569.9 million.

Guess? cited success in "key" international markets -- China, Germany and Russia -- for its strong performance. The company also forecast earnings of $2.50 to $2.65 a share for fiscal 2012 on revenue ranging from $2.70 billion to $2.74 billion. Shares were up 9.3% to $26.70 on volume of nearly 240,000 in extended trades.

Ford

Ford ( F) reclaimed an investment grade rating for its debt on Tuesday as Moody's lifted its credit rating on the car and truck maker to Baa3 from junk.

The company hailed the upgrade as a "once in a lifetime event" as it allowed Ford to reclaim important assets it pledged as collateral for a $23 billion loan six years ago, including its trademark blue oval.

"When we pledged the Ford Blue Oval as part of the loan package, we were not just pledging an asset," said Bill Ford, the company's executive chairman, in a statement. "We pledged our heritage. The Ford Blue Oval is one of the most recognized symbols in the world, and it is a source of great pride and passion, both inside and outside our company. Getting the Ford Blue Oval back feels amazing, and it is one of the best days that I can remember."

The stock ticked up 1.4%, or 14 cents, to $10.33 in late trades on volume of more than 1 million.

Facebook

Facebook ( FB) continued to be in the spotlight after Tuesday's close. The stock has seen dramatic drops in the first two sessions of the week, finished Tuesday's regular session at $31, down 9%.

The Wall Street Journal is reporting that an official with the Nasdaq said the exchange would have pulled the social networking giant's IPO if it knew the full extent of its technical problems beforehand.

In addition, media reports were saying that Morgan Stanley ( MS), the lead underwriter on the Facebook deal, has received a subpoena from Massachusetts authorities for its handling of material information ahead of the IPO. Morgan Stanley reportedly lowered its revenue estimates for Facebook in the days ahead of the deal but didn't disclose the change.

The stock slipped another 14 cents to $30.86 after the close on volume of more than 1.2 million.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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