Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Best Buy (BBY) shares are surging in early trading. The consumer electronics retailer's earnings and revenue shot past analysts' estimates in the first quarter. The company benefited from growth in its domestic business, thanks to demand for large-screen TVs, smartphones and appliances.
Salesforce.com (CRM) shares are sharply higher this morning. The cloud software specialist raised its outlook for the year after reporting a beat on both its top and bottom lines. However, the company remained mum on reports circulating over the past few weeks that it was a takeover target.
Omnicare (OCR) shares are higher in early trading. The nursing home pharmacy has found a buyer. CVS (CVS) is acquiring the company for $12.7 billion or $98 a share in cash and debt.
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NetApp (NTAP) shares are trading at new 52-week lows. The data storage company gave a weak outlook for its current quarter and said it would eliminate about 500 jobs after it reported earnings and revenue that missed estimates with sales falling 7% from a year earlier. The company has been trying to stimulate growth by focusing on cloud-based products as businesses move away from operating and buying their own hardware.
Hewlett-Packard (HPQ) shares are also in focus this morning. The company is reportedly planning to sell a majority stake of H3C Technologies, its data-networking business in China. The Wall Street Journal reports that the decision was prompted by falling Chinese demand for U.S. technology products after disclosures of U.S. spying abroad. HP is scheduled to report second quarter earnings after the close of trading today.
