Shares of DSW Inc. (NYSE: DSW), a branded footwear and accessories specialty retailer, are soaring in early trading today. At last check, DSW shares were trading 9.50% higher at $68.21 on above average volume of 823,423. The stock hit a 52-week high of $69.35 today. DSW shares have gained nearly 17% in the last three trading sessions.
DSW shares are soaring after the company reported its third-quarter financial results. For the third quarter ended October 27, 2012, DSW reported sales of $592.7 million, representing an increase of 11.7% over the same period in the previous year. Comparable sales for the quarter rose 6.3%. The company reported net income of $50.1 million, or $1.10 per diluted share. On a non-GAAP basis, DSW reported net income of $46.6 million, or $1.02 per diluted share, compared to $39.8 million, or $0.88 per diluted share reported for the same period in the previous year.
Mike MacDonald, President and CEO of DSW, said that the company is pleased with its third-quarter results. MacDonald noted that the company’s comparable sales grew for the 13th straight quarter and earnings rose at a double digit rate.
Shares of Hewlett-Packard Company (NYSE: HPQ), a provider of products, technologies, software, solutions and services to individual consumers, small-and medium-sized businesses and large enterprises, are sinking in trading today.
At last check, HPQ shares were trading 11.73% lower at $11.74 on above average volume of 53.09 million. The stock fell to a 52-week low of $11.35 in early trading today.
HPQ shares are sinking after the company reported its fourth-quarter financial results. For the fourth quarter ended October 31, 2012, HPQ reported net loss of $6.9 billion, or $3.49 per share reported for the same period in the previous year. The company swung to a loss in the fourth quarter primarily due to a charge related to serious accounting improprieties, disclosure failures and outright misrepresentations at Autonomy Corp. prior to HPQ’s acquisition of the company.
Excluding the charge, HPQ reported earnings of $1.16 per share, down 1% from the same period in the previous year. The company’s net revenue for the fourth quarter fell 7% to $30 billion.
Looking ahead, HPQ expects first-quarter non-GAAP diluted earnings to be between $0.68 per share and $0.71 per share.
Shares of Clean Energy Fuels Corp. (NASDAQ: CLNE), a provider of natural gas as an alternative fuel for vehicle fleets in the U.S. and Canada, are soaring in trading today. At last check, CLNE shares were trading 6.55% higher at $13.14 on volume of 809,248. The stock hit an intra-day high of $13.17.
CLNE shares are soaring after Dougherty & Co. began coverage of the stock with a Buy rating and a $16 price target.
Shares of Best Buy Co. Inc. (NYSE: BBY), a multinational retailer of consumer electronics, computing and mobile phone products, entertainment products, appliances and related services, are sinking in trading today. At last check, BBY shares were trading 13.82% lower at $11.85 on above average volume of 11.96 million. The stock fell to a 52-week low of $11.74 in trading today. BBY shares have fallen more than 22% in the last three trading sessions.
BBY shares have plunged after the company reported its third-quarter financial results. BBY reported a net los of $13 million, or $0.04 per share for the quarter, compared to net earnings of $173 million, or $0.47 per share reported for the same period in the previous year. Excluding one-time items, BBY reported earnings of $0.03 per share, which is well short of Street estimates of $0.12 per share. The company’s same-store sales for the quarter dropped 4.3%.
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