Abercrombie & Fitch Co. (NYSE:ANF) Down on Knees after Gloomy Report, HP Rises to New Highs – HPQ, ANF

Abercrombie & Fitch Co. (NYSE:ANF) plunged the most in five months following the teen retailer estimated a loss for the first quarter, referring concern regarding the weak economy’s impact on sales.

The shares declined 4.5 percent to $46.86 at the end in New York, the largest one-day loss since Sept. 21. Abercrombie, which has shed 2.3 percent in 2013, was the leading laggard in the Standard & Poor’s 500 Index.

For the fiscal year, New Albany, Ohio-located Abercrombie (ANF) predicts profit of almost $3.35 to $3.45 per share, omitting the impact of share repurchases. Experts project revised earnings per share for the year of $3.67.

Abercrombie & Fitch Co. (NYSE:ANF)’s shares decrease, declining -4.46 percent to close at $46.86. The stock is down around -2.31% this year and -2.66% for the last 12 months. Around 13.50 million shares changed hands yesterday, higher from an-average trading volume of 2.28 million shares.

Dow component Hewlett-Packard Co.’s (NYSE:HPQ) stock rallied to its largest one-day rise since 2008 after the firm’s recent quarterly earnings report showed the poorly personal computer and printer maker is not quite as sick as most investors thought.

Logging Friday’s 12 percent rise to a typical relief rally. Following the stock market ended on Thursday, HP (HPQ) launched quarterly earnings and revenue that exceeded the estimations of the firm’s management and analysts.

Now that HP (HPQ) did higher than predicted in its fiscal first quarter, which concluded in January, it’s lifted hopes that HP CEO Meg Whitman might be able to make a turnaround before schedule. Whitman has steadily coded her plan as a “multi-year journey.”

Hewlett-Packard Co.’s (NYSE:HPQ) moved 12.28 percent higher at $19.20 and traded between $18.11 and $19.83 after opening the day at $18.21. Its performance over the last five days remained 13.81%, which stands at 13.01% for a month. Going back further than one month, 1-year performance after recent close was -27.93%.

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