6 Hot Late Movers: PetSmart Drops 1%, QCOM Edges Lower, and Applied Materials Falls 3%

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Shares of PetSmart (NASDAQ:PETM) dropped 1.2% in late trading after reporting earnings.  Net income for PetSmart Inc rose to $56.2 million (50 cents per share) vs. $45.6 million (38 cents per share) in the same quarter a year earlier. This marks a rise of 23.1% from the year earlier quarter.  Competitors include: PetMed Express (NASDAQ:PETS), Target (NYSE:TGT), and Wal-Mart (NYSE:WMT).

Applied Materials (NASDAQ:AMAT) fell nearly 3% after reporting a decline in earnings for its fiscal fourth quarter.  The company reported net income of $456 million (34 cents per share), compared to $468 million (35 cents per share) last year.

After reporting a 5.6% decline in earnings, shares of NetApp (NASDAQ:NTAP) are falling hard in late trading.  Steve Gomo, NetApp’s chief financial officer, said in an interview that the company’s sales were below the mid-point of NetApp’s guidance range, mostly because of “nine major accounts that were pretty soft. There’s a theme across those accounts, and it’s the macro environment.”

Fusion-io Inc. (NYSE:FIO) are down almost 2% after the closing bell.  The company announced it will offer three million shares of its common stock.  Clients and partnerships of the company include other tech giants such as Apple (NASDAQ:AAPL), IBM (NYSE:IBM), Hewlett-Packard (NYSE:HPQ), and Dell (NASDAQ:DELL).

Shares of Qualcomm Inc. (NASDAQ:QCOM) are edging down in extended trading.  The company held its annual analyst event on Wednesday.  The increasing demand for ersonal computers and other gadgets to function more like phones will give the chip maker a boost.  Goldman Sachs (NYSE:GS) analyst Simona Jankowski, for example, expects Qualcomm to reiterate its expectations for double-digit top and bottom-line growth during its analyst event.  Competitors include: Intel (NASDAQ:INTC), Microsoft (NASDAQ:MSFT), and Advanced Micro Devices Inc. (NYSE:AMD).

Limited Brands Inc. (NYSE:LTD) slipped 1.80% after reporting results for the third quarter.  Net income for the apparel store rose to $94.3 million (31 cents per share) vs. $61 million (18 cents per share) in the same quarter a year earlier. This marks a rise of 54.6% from the year earlier quarter.  Competitors include: New York & Company, Inc. (NYSE:NWY) and Express, Inc. (NYSE:EXPR).

Further Reading: Market Recap: Stocks Tumble on Europe and Higher Oil Prices>>

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