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Affymetrix, Global Geophysical Services, Hewlett-Packard, IBM and Oracle highlighted as Zacks Bull and Bear of the Day

CHICAGO, Jan. 10, 2014 /PRNewswire/ -- Zacks Equity Research highlights Affymetrix (Nasdaq:AFFX-Free Report) as the Bull of the Day and Global Geophysical Services (NYSE:GGS-Free Report)as the Bear of the Day. In addition, Zacks Equity Research provides analysis onHewlett-Packard (NYSE:HPQ-Free Report), IBM (NYSE:IBM-Free Report) and Oracle (NYSE:ORCL-Free Report).

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Here is a synopsis of all five stocks:

Bull of the Day:

AFFX's preliminary revenue guidance for the fourth quarter came in ahead of expectations, sending the earnings estimates higher and the stock back to Zacks Rank #1 (Strong Buy) on January 8, 2014.

Headquartered in Santa Clara, California, Affymetrix (Nasdaq:AFFX-Free Report) is a leading provider of microarray-based products and services to the global research community. The company utilizes its DNA chip technology in areas of gene expression, analysis, and clinical application to help treat infectious diseases, cancer, and other ailments.

Affymetrix has 1,100 employees globally and has a sales and distribution network across U.S., Latin America, Europe and Asia.

AFFX announced its preliminary revenue for the fourth quarter of 2013, on January 7, 2014. The company expects total revenue of approximately $91 million (including a one-time licensing payment of $5.3 million) for the quarter and total revenue of approximately $329 million for the fiscal year.

Quarterly sales reflect a 7.8% increase from the year-ago level of $84.4 million. Further, both the quarterly and annual estimates were ahead of Zacks Consensus Estimates of $85 million and $322 million, respectively.

Bear of the Day:

Headquartered in Houston, TX, Global Geophysical Services (NYSE:GGS-Free Report) is a provider of seismic data solutions for exploration and production companies worldwide.

Declining estimates sent GGS to a Zacks Rank # 5 (Strong Sell) on November 7, 2013.

On November 5, 2012, GGS reported its third quarter results. The company reported revenues of $70.0 million, Cash EBITDA of $10.2 million and an adjusted net loss of $0.32 per share. The loss was substantially worse than the Zacks Consensus Estimate of a loss $0.10 per share.

Following disappointing results, analysts have cut their estimates for GGS. Zacks Consensus Estimates for the current year and the next year are currently ($0.60) per share and ($0.67) per share, down from ($0.09) per share and ($0.40) per share respectively, 60 days ago.

Additional content:

H-P Autonomy Blame-Game Continues

Hewlett-Packard's (NYSE:HPQ-Free Report) or H-P's allegations of accounting misappropriations in Autonomy's financials gained credibility as the U.S. Air Force also reportedly found irregularities in Autonomy's accounting books. Nonetheless, the U.S. Air Force has stated that it will not debar former Autonomy executives from conducting business with the federal government.

The U.S. Air Force was conducting an internal investigation against one of its defense contractors, MicroTech. The investigation revealed that Autonomy was a vendor of MicroTech and it helped the U.K. software maker to inflate revenues and margins.

However, all these allegations have been denied by Autonomy founder Mike Lynch. H-P's much-hyped Autonomy acquisition was marred by several lawsuits from investors claiming that they were misled by the above-mentioned irregularities.

Additionally, H-P had to bear the $8.8 billion charge related to the Autonomy acquisition. The bulk of the charge (roughly $5.0 billion) was to nullify the improper accounting practices relating to Autonomy's financials prior to the acquisition. Investigations related to the allegations are still pending in the U.S. and the U.K.

On the brighter side, Autonomy's integration into H-P's Software segment has strengthened its SaaS portfolio. Buoyed by Autonomy's performance, H-P's SaaS revenues in the last-reported quarter increased 15.0%.

The company's traction in the cloud, security and big data segments are the positives, going forward. Restructuring initiatives and management changes are also expected to keep H-P on the growth path. The company's shift to the core software business will also help it to achieve long-term profitability.

However, continuing macroeconomic challenges, tepid IT spending and competition from IBM (NYSE:IBM-Free Report) and Oracle (NYSE:ORCL-Free Report) are the headwinds, going forward. The Autonomy investigations could remain an overhang on the stock as well.

Currently, H-P has a Zacks Rank #3 (Hold).

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About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.

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