Shares in Abercrombie & Fitch (NYSE: ANF) are up almost 8% pre-market after the retailer reported Q4 earnings that topped expectations.
The company said adjusted non-GAAP net income was $104.3 million, or $1.34 per diluted share, more than the $1.05 analysts had been expecting, according to Capital IQ.
Q4 GAAP net income was $66.1 million, or $0.85 for the thirteen weeks ended February 1, 2014, compared to $157.2 million, or $1.95 a share in the 14-week period a year ago.
Total sales fell 12% to $1.29 billion.
For 2014, the company expects a high-single digit decline in comparable store sales and an approximate 20% increase in comparable direct-to-consumer sales, resulting in diluted EPS in the range of $2.15 to $2.35, which doesn’t include any further restructuring charges. Analysts expect $2.31.
The company also announced a $150 million Accelerated Share Repurchase to be executed during the first quarter of fiscal 2014.
Shares of HP (NYSE: HPQ) edged up in Wednesday’s pre-market session, after the technology and software company said it received a cybersecurity contract from the U.S. Department of Homeland Security with a value of up to $32.4 million, the largest acquisition of software security-assurance tools worldwide.
Under the award, HP will provide licenses for HP WebInspect, which enables agencies to thoroughly analyze their complex web applications and services for security vulnerabilities, and HP Fortify Static Code Analyzer, which gives agencies guidance to close security gaps at the code level.
The contract was awarded under the DHS Continuous Diagnostics and Mitigation government-wide Blanket Purchase Agreement, HP said. The program was established to enable government agencies to cost-effectively identify and mitigate network, system and software vulnerabilities. It is a five-year, multivendor program designed to help the government address the rising volume and complexity of cyberthreats, HP added.
HPQ edged up 1.3% to $30.27 in recent pre-market trading, nearing its 52-week high of $30.71.