Hewlett-Packard Company
A Hewlett-Packard logo. The company plans to address later Wednesday allegations that its IT unit in Poland paid bribes in exchange for government computer contracts. Reuters

U.S. stocks rose to record highs Tuesday, as the Dow hit another closing high at 16,072.80, after investors weighed stronger-than-expected housing data.

After the closing bell, Hewlett-Packard Company (NYSE:HPQ) reported fiscal fourth-quarter earnings excluding one-time items of $1.01 per share on revenue of $29.13 billion, compared with earnings of $1.16 a share on revenue of $29.96 billion a year ago.

Wall Street had expected the company to report earnings excluding items of $1.00 a share on revenue of $27.91 billion, according to analysts polled by Reuters.

The tech giant posted fiscal 2013 non-GAAP diluted net earnings per share of $3.56, within the previously provided outlook of $3.53 to $3.57, as net revenue was down 7 percent from the prior year to $112.3 billion.

"Through improved execution, strong cost management, and with the support of our customers and partners, HP ended fiscal 2013 on a high note," said Meg Whitman, HP president and chief executive officer. "Our Q4 results demonstrate that HP's turnaround remains on track heading into fiscal 2014. While we still have much more work to do, our business units and their core assets are delivering on HP's strategy to help customers thrive by providing solutions for the New Style of IT."

For fiscal 2014, HP said it expects EPS to be in the range of $3.55 to $3.75 per share. For the first-quarter of fiscal 2014, the company estimates EPS to be in the range of 82 cents to 86 cents per share.

Shares of HP rose 5.62 percent to $26.50 in after-hours trading.

Also on Tuesday, TiVo Inc. (NASDAQ:TIVO) said the company’s fiscal third-quarter earnings dropped 79 percent to $12.5 million, or 10 cents per share, compared with earnings of $59 million, or 44 cents per share, a year earlier. Revenue in the quarter ending Oct. 31 jumped 43 percent to $117.3 million from $82 million.

Analysts had expected the company to report quarterly EPS of 6 cents on revenue of $81.35 million.

“TiVo subscriptions rose to approximately 3.9 million in total, a 32 percent increase year-over-year; driven by a strong quarter of close to 300,000 MSO additions, our strongest cable distribution results to date as well as best subscription growth in several years,” said Tom Rogers, president and CEO of TiVo. “In fact the best quarter for TiVo subscription growth since TiVo began mass distribution of its technology and services in the cable DVR market. This growth is in stark contrast to the loss of video subs throughout the cable industry.”

TiVo’s stock edged down 0.30 percent to $13.20 in extended-hours trading.

Meanwhile, shares of Analog Devices Inc. (NASDAQ:ADI) fell 3.45 percent to $48.20 after the bell as the company said quarterly profit rose, while revenues fell short of estimates. The company reported fiscal fourth-quarter adjusted earnings of 62 cents per share on revenue of $678 million, compared with earnings of 58 cents on revenue of $694.96 million in the year-ago period.

Analysts had expected the company to report fourth-quarter EPS of 58 cents on revenue of $688.46 million.

Looking ahead, the microchip maker also outlined a weak outlook for the fiscal first-quarter.

"Given the strength of our technology portfolio and customer relationships, we are optimistic about our future,” said Vincent Roche, president and CEO. “However, in the near-term we are entering a slower seasonal period, with customer shutdowns and inventory reductions coinciding with the holidays in December and January. As a result, our plan is for revenue to decline in the first quarter compared to the prior quarter."

Ahead on the economic calendar for Wednesday, investors will be eyeing weekly jobless claims, durable goods orders, Chicago PMI, the University of Michigan’s consumer sentiment index and leading economic indicators for the month of October.

Meg Whitman