Hewlett-Packard (HPQ) is up 7% in early trading on its earnings. The company made $1.01 a share for the quarter, a penny better than expected. Revenues also topped forecasts coming in above $29-billion. Taking a look beyond the headline numbers, revenues were down year-over-year, but sales of corporate computers did in fact rise. Moving forward, CEO Meg Whitman is calling for an increase in R and D. Even before this morning's climb shares of HP have been up 67% year-to-date.
Network gear-maker Infoblox (BLOX) has been down 18% on its earnings. The company actually beat for the quarter with earnings of 12-cents a share on sales of more than $63-million. The trouble here is the company's outlook which came in below analyst estimates. Prior to this morning's plunge, Infoblox shares were up 139% year-to-date.
One of the few companies reporting today is Shanda Games (GAME) which specializes in internet games. Though it trades on the Nasdaq, the company is based in China. Shanda is expected to report profits of 23-cents a share, almost double the number from a year ago. Shares go in to today's report up 31% so far in 2013.
Apple (AAPL) is at its highest level in nearly a year. Oh, what a year it has been. The stock is still down about 9%. And remember when it was trading over 700-bucks a share? The climb we're seeing now could reflect optimism for the holiday shopping season. The company is holding its traditional "one day shopping event" at Apple stores on Black Friday.
- Information Technology