H-P shares slide after early earnings release

Bloomberg

SAN FRANCISCO (MarketWatch) — Hewlett-Packard Co. shares drifted lower in the extended session Thursday as the tech company said it was laying off more workers and quarterly results accidentally went out earlier than expected.

/quotes/zigman/229301/delayed/quotes/nls/hpq HPQ 31.78, -0.74, -2.28% H-P 12-month shares price

Shares of H-P  (HPQ)  fell 1.3% to $31.37 on heavy volume after the company reported in-line earnings results for the quarter but revenue was just short of expectations.

H-P shares, which had been up as much as 2% in the regular session, closed down 2.3% at $31.78 after its earnings report was released earlier than expected. Also, H-P said it would cut about 11,000 to 16,000 jobs.

"H-P must be maniacally focused" when it comes to making the company more nimble, said Chief Executive Meg Whitman about the job cuts in a conference call with analysts.

GameStop Corp. (GME)  shares rose 2.1% to $37.65 on moderate volume after the video game retailer reported first-quarter earnings of 59 cents a share on revenue of $2 billion. Analysts surveyed by FactSet expected 57 cents a share on revenue of $2.02 billion.

/quotes/zigman/304381/delayed/quotes/nls/aro ARO 4.52, +0.08, +1.80% Aeropostale 12-month shares price

Aeropostale Inc. (ARO)  shares fell 17% to $3.75 on moderate volume after the apparel retailer reported lighter-than-expected first-quarter sales and a wider-than-expected loss in the second quarter.

TiVo Inc. (TIVO)  shares rose 3.1% to $12.30 on moderate volume after the digital TV tech company reported swinging to a profit for the first quarter.

Gap Inc. (GPS)  shares rose 0.2% to $40.95 on moderate volume after the apparel retailer's first-quarter profit was slightly above Wall Street estimates.

Ross Stores Inc. (ROST)  shares declined 0.2% to $68 on moderate volume after the retailer's first-quarter earnings.

Fresh Market Inc. (TFM)  shares rose 10% to $31.65 on moderate volume after the high-end food market posted higher-than-expected revenue for the first quarter.

Aruba Networks Inc. (ARUN)  shares fell 6.5% to $18.75 on moderate volume even though the company reported adjusted fiscal third-quarter results of 20 cents a share on revenue of $188.8 million, against a Wall Street consensus forecast of 20 cents a share on revenue of $180.8 million.

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