Dell Inc. (DELL) Shares Plunge on Analyst Comment
Dell shares plunged Friday after the computer maker posted third-quarter results, though at least one analyst called the 13-percent drop in the shares a "buying opportunity."
"We also see several near-term catalysts, including an aggressive buyback beginning next week, cost reductions and additional retail partnerships," wrote Citi Investment Research's Richard Gardner in a note to clients.
On Thursday, Dell posted quarterly results just short of Wall Street's expectations. And in its first earnings conference call in more than a year, executives predicted more restructuring costs as the company reshapes its business through acquisitions, more layoffs and a focus on fast-growing markets and products.
Dell has been struggling to turn its business around since last summer, when it announced a slew of bad news, including an internal accounting probe and a huge recall of laptop batteries. Rival Hewlett-Packard Co. has also been gaining market share ever since ousting Dell from its spot as the world's No. 1 PC vendor late last year.
"We also see several near-term catalysts, including an aggressive buyback beginning next week, cost reductions and additional retail partnerships," wrote Citi Investment Research's Richard Gardner in a note to clients.
On Thursday, Dell posted quarterly results just short of Wall Street's expectations. And in its first earnings conference call in more than a year, executives predicted more restructuring costs as the company reshapes its business through acquisitions, more layoffs and a focus on fast-growing markets and products.
Dell has been struggling to turn its business around since last summer, when it announced a slew of bad news, including an internal accounting probe and a huge recall of laptop batteries. Rival Hewlett-Packard Co. has also been gaining market share ever since ousting Dell from its spot as the world's No. 1 PC vendor late last year.
posted by Stock Administrator @ 3:53 PM
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