Diamonds and Dogs
2/22/2013
Abercrombie & Fitch Co. (ANF)Abercrombie & Fitch is being torn up like their jeans today, down 4.53% at $46.83. The apparel company saw its shares crash after the company released a poor quarterly forecast. Abercrombie management said that it was expecting a loss for the first quarter this year. The company said it was expecting a "slight loss" due to a tough economy and difficulty tied to its cold-weather inventory. Furthermore, Abercrombie said it does not expect much growth for the full year and would expect numbers to be close to last year. The company is still holding up in the top quarter of its 52-week range of $28.62-$54.10.
Hewlett-Packard Company (HPQ)
Hewlett-Packard is rallying today, up 12.34% at $19.21. The computer company saw its shares make their largest daily gain since 2008 after better than expected earnings. After such a terrible 2012, expectations for HP were very low, allowing the company to easily beat analyst expectations for earnings. The company announced revenue of $28.4 billion with an EPS of $0.82, beating Wall Street's forecast for revenue of $27.8 billion with an EPS of $0.71. The beat on estimates made UBS upgrade the company from sell to neutral, and raise its price target from $12 to $19. HP is trading in the middle of its 52-week range of $11.35-$27.09.
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