It was a second half performance for the markets as the Dow headed lower after the FOMC meeting today. Every Dow (NYSE:DIA) component closed lower with the exception of Hewlett-Packard (NYSE:HPQ). Shares closed more than 6% higher on reports that the company’s board may remove CEO Leo Apotheker after less than a year on the job. Shares continue to climb nearly 2% higher in late trading.
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Bed Bath and Beyond (NASDAQ:BBBY) jumped 1% in late trading as the company reports that net income rose to $229.4 million (93 cents per share) vs. $181.8 million (70 cents per share) in the same quarter a year earlier. This marks a rise of 26.2% from the year earlier quarter. The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 31.3% and in the fourth quarter of the last fiscal year, the figure rose 25.4%. Competitors such as Wal-Mart (NYSE:WMT) and Target (NYSE:TGT) are flat in late trading.
Shares of Human Genome Sciences (NASDAQ:HGSI) jumped 1.6% in late trading after closing 12% higher on Wednesday. The company reported that its new lupus drug Benlysta was selling better than expected. August sales of the drug came in at $6.5 million, compared to only $4.9 million in July. Analysts were expecting August sales of about $6.3 million.
Red Hat (NYSE:RHT) shares are soared more than 5% after the closing bell as the company reported adjusted net income of 28 cents per share. By that measure, the company beat the mean estimate of 19 cents per share. It beat the average revenue estimate of $253.6 million. Competitor Microsoft (NASDAQ:MSFT) headed lower in late trading as investors were disappointed with the company’s 25% quarterly dividend increase.
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