Stocks in the news: Hewlett-Packard, Deere, Citigroup

Some of the companies making major headlines today:

Hewlett-Packard Co. (HPQ) reported results Tuesday after the close. Its profit declined 19 percent in the quarter, showing that the company still relies heavily on printer ink and the troubled personal computer market, despite efforts to branch out. Still, HP topped analyst profit and sales estimates, and boosted guidance. Shares declined about 2.5 percent in pre-market trade on expected continued weak demand for personal computers and printer ink.

Deere & Co. (DE) reported Wednesday morning a 27 percent drop in its fiscal third-quarter profit to $420 million, or 99 cents per share. The global economic slowdown continued to depress sales of its products, which declined 24 percent to $5.89 billion. Still, results trounced Wall Street expectations for earnings of 57 cents per share on revenue of $5.25 million. The company affirmed its fiscal-year forecast. Investors seem to expect continued pressure in the heavy machinery market as Deere shares fell 4 percent ahead of the bell.