Dell Inc. Reports Big Earnings Miss (DELL, PETM, ISRG, QCOM)

Dell Inc. (NASDAQ:DELL) shares declined 13.93% to $12.98 in the morning hour after the company said that the decline in the value of the Indian rupee is likely to hurt its business, but the company remains optimistic about the South Asian nation's economic growth prospects.The company reported first quarter profit of $635 million, or $0.36 a share, as compared with a profit of $945 million or $0.49 a share for the year-earlier period. Revenue was $14.4 billion, down from $15 billion. Adjusted profit was $0.43 a share. Analysts were expecting the company to report a profit of $0.46 a share on revenue of $14.9 billion.Looking forward, the company expects second quarter revenue to rise sequentially by 2% to 4%, which translates to a range of $14.7 billion to $15 billion. Analysts were expecting sales of $15.4 billion.


PetSmart, Inc. (NASDAQ:PETM) stock climbed 8.50% to $60.35 in the early hour after the company’s first-quarter profit increased, on growth across all its merchandising segments.The company posted first-quarter net income of $95 million or $0.85 per share, as compared to $71 million or $0.61 per share in the same quarter last year. Sales for the quarter were $1.63 billion, as compared to $1.49 billion in the prior year. Analysts expected earnings of $0.73 per share on revenues of $1.60 billion for the quarter.Looking forward, the company expects second-quarter comparable store sales growth in the mid-single digit range, and earnings between $0.61 and $0.65 per share. Analysts currently estimate earnings of $0.65 per share.

Intuitive Surgical, Inc. (NASDAQ:ISRG) stock gained 0.23% to $526.27 in the morning hour. On May 11, 2012, the company reported that equity awards approved by the Compensation Committee of the Board of Directors, which consists entirely of Independent Directors, were made to 51 new employees. In accordance with NASDAQ rules, these grants were made under an equity incentive plan without shareholder approval.

QUALCOMM, Inc. (NASDAQ:QCOM) shares fell 0.83% to $57.45 in the early hour.  The company today announced the members of its new Qualcomm Life Advisory Council. Together with the vast experience and insight of the 25 council members, Qualcomm Life will address the key issues that the wireless health industry is facing, including adoption, reimbursement, privacy and security policies and interoperability.