After-hours buzz: Hewlett-Packard, L Brands, Wells Fargo & more
Check out which companies are making headlines after the bell Wednesday:
Hewlett-Packard reported fiscal third-quarter earnings excluding items of 86 cents per share on revenue of $27.23 billion. While earnings met Street forecasts, revenue was a bit below the $27.29 billion analysts were modeling. For the full year, HP sees adjusted EPS of $3.53 to $3.57. The company also announced a shake up in its executive ranks. The stock was down sharply in late trading.
Synopsys, which provides technology solutions used to develop electronics, posted third-quarter adjusted earnings of 55 cents per share, a penny ahead of estimates. Revenue came in at $842.9 million, also beating forecasts. The company sees fourth-quarter earnings of 54 cents to 56 cents per share. The Street is looking or fourth-quarter earnings of 56 cents per share.
L Brands, which operates Victoria's Secret and Bath & Body Works, said second-quarter earnings came in at 61 cents per share a penny ahead of estimates. Same –store sales rose 2 percent in the quarter and total revenues came in at $2.52 billion. For the third-quarter, L Brands sees earnings of 23 cents to 28 cents per share, below current Street forecasts. L Brands stock was down sharply in late trading.
Organic products company Hain Celestial posted adjusted fiscal fourth-quarter earnings from continuing operations of 65 cents per share on revenue of $463.5 million. The Street was looking for earnings of 62 cents per share on revenue of $454.7 million. The company sees fiscal 2014 earnings of $2.95 to $3.05 per share on revenue of $2.03 billion to $2.05 billion. The stock rose in after-hours trading.
Semiconductor firm Semtech posted second-quarter earnings of 52 cents per share excluding items on revenue of $165 million. Analysts were looking for 51 cents per share on revenue of $165 million. For the third quarter, Semtech sees earnings of 31 cent to 37 cents per share, hurt by reduced demand and inventory corrections at several of its smartphone customers. The stock tanked in late trading.
In other news, Wells Fargo announced over layoffs of about 2,300 workers in its mortgage unit.
Williams Cos. hiked its third-quarter dividend by 17.2 percent from year-ago levels. The energy infrastructure firm also reaffirmed its guidance for 20 percent annual dividend growth, sending the stock higher in late trading.