Stocks to Watch: Dell, HP (Update 1)
Dell reported non-GAAP earnings of $913 million, or 51 cents a share, on revenue of $16.03 billion for the quarter ended Feb. 3. Analysts were expecting earnings of 52 cents a share on revenue of $15.96 billion.
For the current fiscal year, the company expects non-GAAP earnings of more than the $2.13 a share it earned last year. Wall Street expects a profit of $2.05 a share in the fiscal year ending in January 2013.
Dell also said it expects a sequential decline in revenue of 7% in its fiscal first quarter ending in April.
Shares were down 6.9% to $18.21 in premarket trading Wednesday.
Hewlett-Packard(HPQ) is expected by analysts after the closing bell Wednesday to report earnings of 87 cents a share on revenue of $30.7 billion.
HP has guided for a profit of 83 to 86 cents a share in the quarter.
Shares were slipping 0.3% to $29.35.
Homebuilder Toll Brothers(TOL) posted a fiscal first-quarter loss of $2.8 million, or 2 cents a share, a swing from year-earlier net income of $3.4 million, or 2 cents.
Revenue fell to $322 million from $334.1 million a year earlier.
Analysts expected Toll to earn 2 cents a share on revenue of $360.8 million.
Shares were plummeting 5.1% to $23.70 in premarket trading.
Brocade Communications(BRCD) , the maker of communications networking equipment, posted an adjusted first-quarter profit of $93 million, or 20 cents a share, on revenue of $561 million.
Analysts were expecting earnings of 13 cents a share on revenue of $542.2 million.
Shares were rising 6% to $5.50 Wednesday.