Stocks in the news: Hewlett-Packard, Heinz, Medtronic, Hormel Foods

Hewlett-Packard (HPQ) reported quarterly results Monday after the bell. There were few surprises, because the company had pre-announced them last week when it acquired 3Com, so the 14% profit rise boosted by China sales and better profit margins was mostly expected. However, H-P also announced it had tripled the size of its share repurchase program to $12 billion. Shares declined 0.8% ahead of the bell.

H.J. Heinz Co. (HNZ) posted a 14% lower quarterly profit of $231.4 million, or 73 cents, on Tuesday, hurt by sales declines in North America and Europe, but said it is optimistic about its sales momentum heading into the second half of its fiscal year and raised its full-year profit forecast. Sales rose 2.5% to $2.67 billion. On an adjusted basis, the company beat estimates on both the top and bottom line. Shares fell over 1% in pre-market trading.