After-Hours Buzz: Hewlett-Packard, JC Penney, Tesla & More
Check out which companies are making headlines after the bell Wednesday:
Hewlett-Packard reported fiscal second-quarter earnings excluding items of 87 cents per share, beating forecasts by 6 cents. But revenue came in at $27.58 billion, missing Street forecasts. For the fiscal third quarter, HP said it expects earnings of 84 to 87 cents a share vs. expectations of 83 cents a share. The stock is up more than 10 percent in late trading.
JC Penney said its five-year credit facility has increased to $2.25 billion from $1.75 billion. The company said the new funding gives it the flexibility it needs to "pursue our plans to put the company back on a path to profitable growth."
Tesla Motors announced that it has paid off the entire loan awarded to the company by the Department of Energy in 2010.
Pet-supply retailer PetSmart posted earnings of 98 cents per share for the first quarter as same-store sales rose 3.5 percent. Earnings beat analyst forecasts. For the second quarter, PetSmart expects earnings of 82 cents to 86 cents per share with same-store sales up 3 percent to 4 percent. Shares are higher in late trading.
L Brands, parent of retail chains Victoria's Secret and Bath & Body Works, beat Street forecasts for the first quarter, posting earnings of 48 cents per share on sales of $2.27 billion. For the second quarter, the retailer sees earnings of 50 to 55 cents per share. Analysts are looking for 53 cents per share.
Workday, an enterprise cloud-software company, posted a first-quarter loss of 15 cents per share excluding items as revenue rose 61 percent to $91.6 million. Results were better than forecasts. The company sees second-quarter revenue of $97 million to $101 million, versus forecasts for $99 million. The stock is up after-hours.
Synopsys, a chip design-software manufacturer, recorded second-quarter earnings excluding items of 66 cents per share, beating estimates by 3 cents. The company also raised its full-year guidance, sending shares higher in late trading.
Chip maker Semtech posted first-quarter earnings of 46 cents per share excluding items, meeting Street forecasts, on revenue of $162.4 million. Second-quarter adjusted earnings are expected to be 50 to 56 cents per share on sales of $164 million to $172 million.