Hewlett-Packard (HWP): Hewlett-Packard reported fourth-quarter earnings that missed analysts' estimates by a dime. The company said it earned 41 cents per share for the quarter compared with 36 cents a share for the same period a year earlier. Analysts polled by First Call/Thomson Financial expected the company to earn 51 cents. Shares of HP fell $5.31, or almost 14 percent, to $33.81 in morning trading.
Adaptive Broadband (ADAP): Western Multiplex (WMUX) will buy the maker of wireless telecommunications equipment for $645 million in stock to expand its services. Shares of Adaptive Broadband rose 56 cents, or about 4 percent, to $13.38. Shares of Western Multiplex fell $2.38, or nearly 19 percent, to $10.38.
Intel (INTC): The chipmaker will release two new Celeron processors for low-cost personal computers running at 733-MHz and 766-MHz, costing $112 and $170 each, respectively, in quantities of 1,000. Shares of Intel fell 63 cents, or almost 2 percent, to $36.38.
Interspeed (ISPD): The maker of telecommunications equipment said its fourth-quarter loss widened to 77 cents a share from 40 cents in the year earlier period. The company also restated its results for the previous three quarters. Shares of Interspeed fell 25 cents, or 20 percent, to $1.
Methode Electronics (METHA): The maker of electronic and fiber-optic connectors said it expects net income for the second quarter ended Oct. 31 to rise between 15 percent and 18 percent from 21 cents a share a year ago, implying an earnings per share of 24 cents or 25 cents. Merrill Lynch analyst Jerry H. Labowitz downgraded the company, stating in his research note he had expected the company to earn 28 cents per share. Shares of Methode Electronics fell $9, or nearly 30 percent, to $21.06.