HP Inc. reported beats on both the top and bottom lines, but the bar was pretty low and year-over-year, the PC and printer giant posted revenue that was 11% lower and EPS that was 9.5% lower. The company also announced a 5% dividend hike and a transformation plan that includes the firing of 4,000 to 6,000 employees. Shares were up by double digits early Wednesday but have dipped to an increase of about 2.5% with about 30 minutes left in premarket trading.
Before markets open Wednesday morning, Deere & Co. reported results that also beat estimates on the top and bottom lines. Equipment sales rose nearly 40% year over year, and EPS was up about 80%. The stock traded up about 3.4% in Wednesday’s premarket.
U.S. markets are closed for the Thanksgiving holiday on Thursday and close at 1 pm on Friday.
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