HP, Nordstrom: Good News As They Beat Estimates
By: At last, some good news after the bell! Hewlett Packard beat estimates and is up 2% (they also announced an $8 buyback), but even more important was Nordstrom . They beat earnings estimates by 7 cents, and more importantly, did not lower fourth quarter guidance AND guided 2008 above expectations. They note that "During the (third) quarter, the company made good progress in aligning inventory levels to business trends. We believe inventories will be in-line by year-end." Up nearly 10% post-trading.
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At last, some good news after the bell! Hewlett Packard beat estimates and is up 2% (they also announced an $8 buyback), but even more important was Nordstrom. They beat earnings estimates by 7 cents and, more importantly, did not lower fourth quarter guidance AND guided 2008 above expectations.
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