Diamonds and Dogs
4/11/13Hewlett-Packard Company (HPQ)
Hewlett-Packard is short circuiting today, down 6.47% at $20.88. The computer company saw its shares slide lower after the IDC released PC sale data. For the first quarter PC sales(across all companies) fell 14% compared to the same period last year. That decline is the largest quarterly decline that IDC has recorded since IDC began tracking the PC sector in 1994. Many PC companies fell today including Microsoft, AMD, Intel, and Dell (slightly). HP had been doing phenomenal over the last six months gaining around 60%, but today the company traded down about $1.50 per share. The company is still trading in the upper half of its 52-week range of $11.35-$25.40.
Zumiez Inc. (ZUMZ)
Zumiez is popping a wheelie today, up 13.37% at $28.23. The action sport company (skateboarding, snowboarding, surfing, and motocross) saw its shares catapult off a jump after better than expected revenue for the quarter. Zumiez management said that its revenue from stores open at least a year increased 2.1 percent. This beat analyst estimates of a 7.5 percent decline for the quarter. Total revenue for the five-week period that ended April 6 increased nearly 20 percent to $61 million. Zumiez is trading in the middle of its 52-week range of $17.93-$41.96.