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    Earnings News: Dell Inc (DELL), Applied Materials Inc (AMAT), Nordstrom Inc (JWN)


    by IBTimes


    Dell Inc. (NASDAQ: DELL) reported second quarter earnings, excluding items, of 25 cents a share on revenue of $14.51 billion. Analysts had expected the tech company to report earnings, excluding items, of 24 cents a share on $14.18 billion in revenue, according to analysts polled by Reuters.

    Dell beat expectations despite falling PC sales, after the company unexpectedly moved up its scheduled earnings report from next week. The company is currently in a buyout battle between founder and CEO Michael Dell and activist investor Carl Icahn over its future.

    On Thursday, shares of Dell Inc. fell 0.18 percent to $13.68 in after-hours trade.

    Nordstrom, Inc. (NYSE: JWN) issued earnings of 93 cents a share on revenue of $3.20 billion, compared with Reuters estimates for 88 cents a share on sales of $3.29 billion.

    The high-end retailer also cut its full-year earnings and revenue forecasts. The company lowered its full-year earnings outlook to $3.60 to $3.70 compared to its previous outlook of $3.65 to $3.80.

    Shares of Nordstrom, Inc. dropped 2.92 percent to $57.60 in extended-hours trading.

    Applied Materials, Inc. (NASDAQ: AMAT) reported fiscal third quarter net income fell to $168 million, or 14 cents per share, from $218 million, or 17 cents per share, in the year-ago period.

    Excluding one-time items, the semiconductor manufacturer issued earnings of 18 cents a share on revenue of $1.98 billion, missing analysts’ estimates for 19 cents a share on sales of $2.06 billion.

    The company also reported an earnings guidance that fell short of Wall Street forecasts.

    In addition, the company named Gary Dickerson, currently president of Applied Materials, as its new CEO. Dickerson, who replaces Michael Splinter as the company's CEO since 2003, will take on the new role September 1.

    Shares of Applied Materials, Inc. were down 2.25 percent to $15.32 after the close.

    Wall Street tumbled on Thursday, as the Dow dropped over 200 points, after investors weighed a disappointing retail earnings report from Wal-Mart Stores Inc. (NYSE: WMT). The market also continued to fear when the Federal Reserve might start to taper its $85 billion-a-month bond-buying program.

    On the economic calendar for Friday, economists will be looking to economic releases the University of Michigan Consumer Sentiment Index and housing starts data.

    The Dow Jones industrial average plunged 225.47 points, or 1.47 percent, to close at 15,112.19. The S&P 500 Index was down 24.07 points, or 1.43 percent, to end at 1,661.32. The Nasdaq Composite Index was down 63.16 points, or 1.72 percent, to finish at 3,606.12.