Hewlett-Packard was the best performing stock in the S&P 500 today. The stock rose after the former Dow component posted a profit, reversing last year’s loss. But today, CEO Meg Whitman made it clear she’s looking for revenues to stabilize in the new year, not grow. Shares climbed in today’s session up 9% to $27.36.
Despite its growing list of competitors, Tivo added a lot of subscribers. The maker of digital video recorders beat Wall Street’s estimates and saw its customer count increase for 9 straight quarters. More people are turning to Tivo because it allows access to online video like Netflix and Hulu. Still investors were bearish on the stock. Shares fell more than 4% to $12.66.
CVS announced today it will buy the specialty drug infusion business Coram for about $2.1 Billion. Coram is an infusion therapy provider treating problems like immune deficiencies and multiple sclerosis. The acquisition will help CVS diversify its treatment offerings. The news sent shares up to an all-time high up 1% to $66.76.
Shares of Foster Wheeler popped today on reports that British engineer Amec is eyeing a takeover of the company, which would create a $8 billion energy provider. Goldman Sachs is reported to be the advisor on the potential deal. That sent shares 6% higher to $30.49.
Abercrombie & Fitch and Aeropostale
Yesterday, we told you that Aeropostale’s shareholders are pushing for the teen retailer to sell itself, but one analyst says Abercrombie & Fitch has the best value among teen retailers. That sent shares of Abercrombie up 2% to $34.37 and shares of Aeropostale down almost 2% to $9.84.
Yet another teen retailer issued a weak forecast. Tilly’s says poor traffic trends and high promotions will hurt its bottom line. The company also reported a revenue miss. That sent shares nosedived, down 24% to $12.
The network equipment maker, Infoblox, is predicting a weaker-than-expected second quarter. The company’s loss widened as margins weakened and costs rose. Shares have almost tripled in the past year on strong demand for its products that help companies manage internet traffic, but today the stock tumbled, down more than 28% to $32.08.