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Swan Lake, MS 11/22/2011 (StreetBeat) – Hewlett-Packard , the computer and printer maker, said fiscal fourth-quarter earnings fell from a year earlier but still topped Wall Street's expectations.

HP said adjusted earnings per share fell 12% from last year to $1.17 per share. Adjusted net revenue for the quarter ended in October dropped 3% to $32.3 billion.

Analysts were expecting profit of $1.13 a share on sales of $32 billion.
Chief Financial Officer Catherine Lesjak said HP was "remaining cautious" about fiscal 2012, and HP forecast non-GAAP earnings of 83 cents a share for its fiscal first quarter ending in January. Wall Street's current consensus view is for a profit of $1.11 a share. For the full year, the Dow component sees non-GAAP earnings of at least $4 per share vs. the average analysts' estimate of $4.54 a share.

Brocade Communications blew past Wall Street's expectations in its fiscal fourth quarter.

The networking equipment company reported adjusted earnings of $79 million, or 16 cents a share, for the three months ended Oct. 29. Revenue was $550 million, up 9% on a sequential basis but virtually flat from last year.

Analysts were calling for a profit of 10 cents a share in the latest quarter on revenue of $527.4 million.

Medtronic , the health care technology provider, is expected by analysts Tuesday to report earnings of 82 cents a share on revenue of $4.1 billion.
Last week, Medtronic agreed to sell Physio-Control, an emergency medical response technology group, to private-equity firm Bain Capital for $487 million.

Campbell Soup , the soup maker, is expected by analysts Tuesday to report earnings of 79 cents a share on revenue of $2.2 billion.

Chico's , the women's retailer, is expected by analysts to post third-quarter earnings of 20 cents a share on revenue of $548.5 million. Analysts surveyed by Thomson Reuters expect same-store sales for the quarter to rise mor e than 5%.

Gilead Sciences agreed on Monday to buy Pharmasset for $11 billion in cash and debt, vaulting Gilead into the lead to develop the next generation of all-oral hepatitis C therapies.

The acquisition price of $137 a share was an 89% premium to Pharmasset's closing price Friday of $72.67.

Pharmasset shares rose 84.6% Monday to close at $134.14.

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