HP met estimates after the close on Thursday in what CEO Carly Fiorina called the company’s “most balanced profit performance since the merger” with Compaq.
Earnings of 35 cents a share met estimates, and revenues of $19.51 billion topped $19.38 billion forecasts. The company also raised first quarter revenue estimates.
Also after the close, BEA and Serena
beat estimates, and Wireless Facilities
warned.
The market sold off during the day on a weaker than expected manufacturing report after gapping higher at the open on strong results from Applied Materials .
The Nasdaq fell 30 to 2045, the S&P 500 lost 4 to 1147, and the Dow declined 7 to 10,664. Volume rose to 1.52 billion shares on the NYSE, and 2.1 billion on the Nasdaq. Decliners led 20-12 on the NYSE, and 20-10 on the Nasdaq. Downside volume was 62% on the NYSE, and 82% on the Nasdaq. New highs-new lows were 233-4 on the NYSE, and 178-8 on the Nasdaq.
Applied Materials finished in the red after opening higher on better than expected results.
Intuit fell 8% on a warning, while Omnivision
soared 15% after blowing past estimates.
Nextel lost 4% despite beating estimates and raising guidance.
EMC finished unchanged after trading higher on company comments that IT spending is improving.
Ciena lost 2% on news of acquisitions.
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