Stocks to Watch: Dell, Sears, Gap, Foot Locker (Update 1)
NEW YORK -- Dell(DELL) , the PC maker, came up short Thursday in its latest quarter and gave a lackluster outlook.
Dell posted third-quarter non-GAAP profit of $679 million, or 39 cents a share, on revenue of $13.72 billion, below analysts' expectations of earnings of 40 cents a share on revenue of $13.89 billion.
Dell said it expects a "challenging macro-economic environment" to continue into the fourth quarter and forecast sequential revenue growth of 2%-5% for the January-ending period, implying revenue of $13.99 billion to $14.41 billion. Analysts forecast revenue of $14.48 billion in the quarter. For the full year, Dell stuck to its forecast for non-GAAP earnings of at least $1.70 a share, below the analysts' estimate of $1.73 a share.
Dell shares were down 2% in premarket trading Friday to $9.37.
Sears Holdings(SHLD) , the department store operator, posted a quarterly loss Thursday of $498 million, or $4.70 a share, on revenue of $8.86 billion, wider than its year-earlier loss of $421 million, or $3.95 a share, on revenue of $9.41 billion.
Gap(GPS) hiked its full-year earnings outlook after reporting a jump in third-quarter profit and and increase in Gap North America same-store sales.
Gap shares rose 5.83% to $35.20 in premarket trading Friday.
Foot Locker(FL) , the athletic footwear and apparel retailer, posted third-quarter adjusted earnings of 63 cents a share on revenue of $1.52 billion.
Analysts called for a profit of 54 cents a share in the October-ended period on revenue of $1.47 billion.
Shares rose 6.75% to $34 in premarket trading.
J.M. Smucker(SJM) posted fiscal second-quarter adjusted earnings of $1.45 a share on sales of $1.63 billion.; analysts were calling for earnings of $1.41 a share.
Smucker shares were unchanged in premarket trading at $85.38.
Schiff Nutrition International (SHF) received a buyout bid Thursday of $1.4 billion from Reckitt Benckiser.