HP Posts Strong Results

Shares of HP jumped 4% after hours Tuesday after the company beat revenue estimates and raised guidance.

HP’s earnings of 34 cents a share met estimates, and revenues of $20.11 billion topped $19.33 billion forecasts. HP said it sees second-half revenues of $39.7-$40.7 billion, compared to $39.7 billion estimates.

Applied Materials beat earnings and revenue estimates with 22-cent earnings and $2.02 billion revenues, but the stock slipped fractionally after the company’s gross margins came in lower than expected.

Also after the close, Network Appliance and AutoDesk beat estimates.

Stocks finally posted gains during the day on strong results from Home Depot and a stronger than expected Japanese GDP report.

The Nasdaq climbed 21 to 1897, the S&P 500 rose 7 to 1091, and the Dow gained 61 to 9968. Volume declined to 1.35 billion shares on the NYSE, and 1.44 billion on the Nasdaq. Advancers led 24-9 on the NYSE, and 20-11 on the Nasdaq. Upside volume was 76% on the NYSE, and 77% on the Nasdaq. New highs-new lows were 18-61 on the NYSE, and 31-74 on the Nasdaq.

Computer Sciences and Wind River surged after beating estimates.

Agilent slipped on its results, while CNT edged higher despite missing estimates.

Satyam Computer Services and Rediff surged as India’s political fortunes reversed in a day.

Sprint gained on a wireless deal with AT&T .

Cray rose on a supercomputing deal.

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