When NetApp (NTAP) posted third-quarter results on Feb. 27, the data infrastructure firm disappointed investors. NTAP lost 15.6% on Feb. 28 after reporting revenue growth of 2% Y/Y.
NetApp reported $1.64 billion in revenue, which did not meet expectations. The firm is forecasting an EPS of $1.84 – $1.94, below analyst estimates. CEO George Kurian said that the firm will take action to “enhance our execution.” Investors lost patience and sold NTAP stock in response.
HP Inc. (HPQ), a PC and printer seller, dropped by 11.95% last week after it posted Q1 results. Non-GAAP EPS of $0.74 was on revenue of $13.5 billion (+2.4% Y/Y). The firm benefited from a double-digit growth rate in PC sales to corporations. However, printing revenue fell by 1%.
Unfortunately, the weak Q2 outlook spooked investors. HP likely priced in current tariffs on China. Margins are at risk after HP increased inventory ahead of those tariffs. HPQ stock is attractive today since the Future Ready plan will realize another $300 million in savings.
In the solar energy industry, Enphase (ENPH) slumped by 11.3 percent last week. The firm posted excellent quarterly results in early February. Still, this sector is unattractive as competition rises. First Solar (FSLR) also dropped, losing 12.39% last week and nearly 18% in February.
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