Hewlett-Packard Co. (HPQ) is expected to post another quarter of
weaker profits and revenue when the technology giant reports its
fiscal second-quarter results next week.
Data on existing home sales and new home sales next week will
provide the first look at the important spring home selling season,
while data on durable goods will shed light on the factory
sector.
Skincare products maker Tria Beauty Inc. and gaming hardware
company Corsair Components Inc. are expected to go public next
week.
Hewlett-Packard To Report Earnings
Investors will look signs of a turnaround at Hewlett-Packard Co.
(HPQ) when the No. 1 personal computer marker reports its latest
quarterly results on Wednesday. In February, H-P reported its
fiscal first-quarter earnings fell 44% as sales in its PC business
remained weak and issued a downbeat outlook for the second
quarter.
The Wall Street Journal reported Thursday that Hewlett-Packard
plans to cut its workforce by 25,000 to 30,000 employees, citing
people familiar with the matter, a record number for the venerable
technology giant as it grapples with declining revenue and profits.
One person said that a formal announcement could come when the
company reports its quarterly results.
H-P has been in a state of near-constant turmoil since August
2010, when then-chief executive Mark Hurd resigned following an
internal ethics probe. His successor, Leo Apotheker, tried to
reorient H-P--the world's largest maker of personal computers and
server systems--around software and "cloud" services offered over
the Internet. His plan included spinning off the PC division, but
he was fired a month later and replaced by Meg Whitman in
September, who decided to keep the PC unit. Whitman has said she
plans to cut costs and improve the performance of H-P's existing
businesses.
Other companies due to report their latest quarterly results
next week include Analog Devices Inc. (ADI), Best Buy Co. (BBY),
Costco Wholesale Corp. (COST), Lowe's Cos. (LOW) and Tiffany Co.
(TIF).
Homes, Hardgoods Reports Due Next Week
The first look at the important spring home selling season is on
tap next week, along with news from the durable goods sector.
The housing industry suffers from too much existing supply
chasing too little demand. That's why new construction and prices
have suffered. The question is whether improving consumer
confidence and extremely low mortgage rates are enticing buyers to
sign contracts.
Existing home sales will be reported Tuesday by the National
Association of Realtors. The median forecast by economists surveyed
by Dow Jones Newswires is that resales increased in April to an
annual rate of 4.60 million.
New home sales will be reported the next day. They are forecast
to also rise, to a 335,000 pace.
Also on the calendar next week will be Thursday's durable goods.
The median forecast is that orders increased a mere 0.3% in April,
barely recouping any of the 4.0% tumble taken in March.
Tria Beauty, Corsair Components Expected To Debut Next Week
Tria Beauty and Corsair Components are both expected to begin
trading on Thursday.
Tria, which creates at-home, light-based skincare products such
as a hair removal laser and a skin clarifying system that uses
blue-light therapy for mild to moderate inflammatory acne, expects
its initial public offering of 4.6 million common shares to price
between $13 and $15 a share. The company had filed plans in January
to fund sales and marketing initiatives, research and development
activities, debt repayment and other general corporate purposes.
The company intends to list its common stock on the Nasdaq Global
Market under the symbol TRIA.
Corsair, which designs and supplies high-performance hardware
components for personal computers and is primarily focused on
gaming hardware, expects its 6 million shares to price between $12
and $14 a piece. It plans to use proceeds to pay down debt and for
other general corporate purposes. The company plans to list its
stock on the Nasdaq under the symbol CRSR.
Catalyst Paper To Determine Restructuring Path
On Wednesday, Catalyst Paper Corp.'s (CTLUQ) creditors will
determine which path the paper and pulp producer's restructuring
will take.
Secured and unsecured creditors alike will meet in Richmond,
British Columbia, to vote on the Canadian company's restructuring
plan, which is subject to the approval of Canadian and U.S. courts.
The company sought the protection of both courts earlier this
year.
If creditors don't vote in favor of the plan, Catalyst has a
backup strategy: a sale to its lenders for $275 million, subject to
higher bids at a court-supervised auction.
NATO Summit To Focus On Afghanistan
The North Atlantic Treaty Organization summit will be held in
Chicago on Sunday and Monday, the group's first summit in a U.S.
city other than Washington.
President Barack Obama and leaders from dozens of other
countries are expected to discuss plans for the war in Afghanistan
and to announce the completion of the first phase of a Europe-based
missile-defense system.
At an Oval Office meeting Wednesday, Obama and NATO Secretary
General Anders Fogh Rasmussen agreed the summit would be a time
"reaffirm allied commitment to the transition framework" and a move
from a combat role to support for "sufficient and sustainable
Afghan forces."
Conferences
Among the significant conferences next week are B. Riley &
Co Investor Conference Monday through Wednesday in Santa Monica,
Calif.; Deutsche Bank Global Financial Services Investor Conference
Monday through Friday in New York; Janney Consumer Conference
Monday and Tuesday in Boston; Barclays Capital Global Technology,
Media and Telecommunications Conference Tuesday and Wednesday in
New York; Citi Global Consumer Conference Tuesday through Thursday
in New York; UBS Global Oil and Gas Conference Monday through
Thursday in Austin; and Wolfe Trahan & Co. Global
Transportation Conference Tuesday and Wednesday in New York.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;
nathalie.tadena@dowjones.com
--Ben Worthen, Kathleen Madigan, Jacqueline Palank and Dow Jones
Newswires staff contributed to this article.
Analog Devices (NASDAQ:ADI)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Analog Devices (NASDAQ:ADI)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024
