DellShares 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%.
PetSmartShares 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.