After-hours buzz: HPQ, HON & more
Check out which companies are making headlines after the bell on Thursday:
HP shares dropped more than 2 percent in after-hours trade Thursday. The company filed a restructuring plan, where it said it is likely to cut 3,000 to 4,000 jobs over the next three years. It said the move will save about $200 million to $300 million beginning in fiscal year 2020. HP said it plans to increase its quarterly dividend by 7 percent in fiscal year 2017 and also expects to report earnings in line with Wall Street expectations. It expects adjusted earnings per share of $1.55 to $1.65 in 2017, compared to estimated EPS of $1.61 for fiscal 2017, according to Factset.
Honeywell's stock rose nearly 2 percent after it announced it's targeting double-digit earnings per share growth in 2017, according to an SEC filing. The manufacturing company expects this growth to come primarily from operational performance, restructuring benefits and foreign exchange.
Shares of Zumiez jumped more than 3 percent in after-hours trade, following a report from Piper Jaffray upgrading the stock from neutral to overweight. Piper Jaffray conducted its biannual report, "Taking Stocks With Teens," receiving 10,000 responses for its fall 2016 edition, with an average respondent age of 16. The survey showed its Zumiez Brand Index carried 5.1 percent of the overall vote among upper-income teens in the survey, up from 4.1 percent a year ago.