NEW YORK -- Hewlett-Packard ( HPQ - Get Report), the computer and printer maker, reported above-consensus quarterly results on Wednesday and unveiled plans to cut 27,000 jobs, or 8% of its work force.

HP reported fiscal second-quarter non-GAAP earnings of 98 cents a share on revenue of $30.7 billion. Analysts were looking for earnings of 91 cents a share on revenue of $29.91 billion.

Shares of HP rose 10.06% in premarket trading Thursday to $23.20.


Costco Wholesale ( COST), the warehouse retailer, reported fiscal-third-quarter earnings Thursday of $386 million, or 88 cents a share, up from year-earlier profit of $324 million, or 73 cents.

Sales rose 8.2% to $21.85 billion. Including higher membership fees, total revenue rose 8% to $22.32 billion. Same-store sales in the quarter rose 5%.

Analysts were calling for earnings of 87 cents a share on revenue of $22.21 billion.

Shares of Costco rose 1.36% in premarket trading Thursday to $84.44.


Jewelry company Tiffany ( TIF - Get Report) reported Thursday first-quarter earnings of $82 million, or 64 cents a share, up from year-earlier earnings of $81 million, or 63 cents.

Analysts were expecting earnings of 69 cents a share.

Tiffany lowered its 2012 earnings guidance to be between $3.70 a share and $3.80 a share from previous estimates of between $3.95 a share and $4.05 a share. The company said 20 cents of the reduction is due to lower operating expectations and 5 cents is from additional debt.

First quarter global net sales rose 8% to $819 million.

Tiffany shares fell 9.39% in premarket trading Thursday to $56.


NetApp ( NTAP - Get Report), the storage and data management technology company, forecast non-GAAP earnings of 34 cents to 39 cents a share in its fiscal first quarter, well below the current consensus view for a profit of 59 cents a share.

Shares of NetApp plunged 18.38% in premarket trading Thursday to $26.82.

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Pandora Media ( P) reported a first-quarter loss of $20.2 million, or 12 cents a share, compared with a year-earlier loss of $9.14 million, or 61 cents. Minus one-time items, Pandora's first-quarter loss would have been 9 cents a share; analysts were expecting a loss of 18 cents.

First-quarter revenue was $80.8 million, which topped analysts' estimates of $74.3 million.

Pandora shares rose 16.65% in premarket trading Thursday to $12.05.

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H.J. Heinz ( HNZ), the ketchup maker, is seen posting fiscal fourth-quarter earnings of 79 cents a share on sales of $3.07 billion.

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-- Written by Joseph Woelfel

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