49.30 -0.07 (-0.14%)
After hours: 5:28PM EDT
Price Crosses Moving Average
|Bid||49.00 x 900|
|Ask||49.42 x 1100|
|Day's Range||48.28 - 49.80|
|52 Week Range||25.51 - 59.53|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||8.18|
|Earnings Date||Aug 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||50.12|
In this article we will take a look at whether hedge funds think Dell Technologies Inc. (NYSE:DELL) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips […]
The global death toll from the coronavirus that causes COVID-19 climbed above 360,000 on Friday, as Brazil, South Korea, the Philippines, Iran and Portugal all reported spikes in infections.
What happened Shares of Dell Technologies (NYSE: DELL) have jumped today, up by 7% as of 12:30 p.m. EDT, after the PC maker announced first-quarter earnings. Demand for PCs remains healthy, as COVID-19 has driven many companies to invest in remote working setups.
Tech companies Dell Technologies Inc (NYSE: DELL) and HP Inc (NYSE: HPQ) reported their earnings this week. At the very least, they hurdled Wall Street estimates. Despite more people working from home, HP stock dropped sharply upon the results as only earnings estimates were topped. On the other hand, Dell's results drove shares more than 7%. No financial targets for the full year were given due to uncertainty regarding the length of the pandemic and the consequent slow pace of the economic recovery.HP's revenue was held backIn their most recent quarter ending on April 30, the personal computer and printer maker achieved total revenue of $12.5 billion. Sales fell 11.2% from the same quarter a year ago. Analysts expected $12.86 billion. The good news is that earnings per share of 51 cents topped estimates of 45 cents.Compared to the prior year, sales at HP's personal systems and printing segments dropped 7% and 19%, respectively. But the big difference is in operating profits. In the personal systems segment, profit surged 43% from the prior year, but in the printing segment, it fell 35%. The Palo Alto, California based company ended the quarter with $4.1 billion in cash. On a year-over-year basis, revenue dropped 11% with earnings dipping 4%. But what made the stock plunged 5.5%, besides the sales miss, is that the company didn't provide a revenue target for the current quarter. It only gave an earnings expectation of 42 cents per share. By the looks of it, HP's diverse portfolio and go-to-market capabilities are what protected its earnings. Also, HP's financial position showed the company can weather the storm.Dell's business blossomed from work-from-home trendsFor the quarter that ended in April, Texas-based company achieved revenues of $21.90 billion. Quarterly earnings amounted to $182 million. Adjusted earnings were $1.34 per share whereas Zacks Consensus Estimate was 3.09% lower at $1.01 per share. But the actual result is lower when compared to $1.45 per share earned in the same quarter last year. On a brighter note, the quarterly report delivered an earnings surprise of 32.67% whereas, in the previous quarter, there was no surprise as the estimate equaled the actual result. Moreover, Dell achieved a good track record as it surpassed both consensus EPS and revenue estimates three times over the last four quarters.Most importantly, the tech giant said the pandemic has boosted its business in certain sectors. For example, the revenue of Dell's Client Solutions Group rose 2% year over year to $11.1 billion. The segment saw demand for commercial laptop units surge in double-digits whereas mobile workstation saw high-single-digit revenue growth. This is due to orders from banking and financial services, government and health care providers expanding 15% to 20% as these businesses struggled to meet the immediate needs of their customers, communities and patients. Overall, despite flat sales and an earnings drop on a year-over-year basis, Dell portrayed a strong financial performance that was well beyond expectations so no wonder its shares went up.OutlookWe know by now that the entire fiscal year will be filled with uncertainty so everyone will be eagerly waiting for estimates of the current and upcoming quarters. The good news is that customers need essential technology now more than ever before so they can restart their businesses in a COVID-19 remote working environment. One thing is certain: the current conditions will act as a strong catalyst for transformation that is upon both HP and Dell.This article is not a press release and is contributed by Ivana Popovic who is a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . Ivana Popovic does not hold any position in the mentioned companies. Press Releases - If you are looking for full Press release distribution contact: firstname.lastname@example.org Contributors - IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: email@example.com Questions about this release can be send to firstname.lastname@example.orgThe post HP and Dell At Least Managed to Top Estimates appeared first on IAM Newswire.See more from Benzinga * COVID-19 Seems To Be Speeding Up The Cannabis Revolution * Earnings Results Show Discount Retailers Have An Edge In The COVID-19 Era * Stocks To Watch This Week(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Yahoo Finance’s Brian Sozzi and Alexis Christoforous break down Dell’s latest earnings report with Daniel Newman of Futurum Research.
(Bloomberg) -- Dell Technologies Inc. reported quarterly revenue and profit that were better than projected on greater sales of personal computers to businesses with employees working from home, even while server demand waned. Shares jumped 7% in extended trading.Revenue was $21.9 billion in the period that ended May 1, little-changed from a year earlier, the Round Rock, Texas-based company said Thursday in a statement. On average, analysts estimated $20.8 billion, according to data compiled by Bloomberg. Dell generated profit, excluding some items, of $1.34 per share, easily beating analysts’ projection of 95 cents.Chief Executive Officer Michael Dell has been the architect of a strategy to offer diversified information technology. The company makes PCs, data-center hardware, cybersecurity products and other software. The resulting empire was saddled with debt, which the company has prioritized paying down to have an investment-grade credit rating. Dell reported it repaid $5.4 billion in debt during the fiscal first quarter, leaving it with $48.4 billion in long-term debt.To save costs during the recession caused by the coronavirus pandemic, Dell has frozen hiring, raises, promotions and contributions to its employees’ 401(k) retirement plans, Bloomberg News reported this month. During Donald Trump’s tenure as president, Dell has shifted its supply chain away from China where possible to avoid the worst effects of the trade war with the U.S. That decision looks to have paid off, with Dell’s PC business holding up better than that of rival HP Inc., which on Wednesday reported declining PC sales partly due to supply disruptions.In a conference call after the results, Sweet said revenue in the current period would be “seasonally lower” than in prior years. Usually, sales in the three months ending in July are higher than in the fiscal first quarter, but that may not happen this year. Dell withdrew its forecasts in March and Sweet didn’t offer any further guidance on Thursday.“We’re all navigating through a difficult time right now, but our focus has been on let’s get through this, let’s do the right thing and then let’s position the company properly to take advantage of the opportunities post-crisis,” Chief Financial Officer Tom Sweet said in an interview. Among those opportunites, he said, are demand from the explosion of data, new fifth-generation wireless networks and edge computing, in which servers are located closer to customers rather than at far-way centers.Dell also said it would suspend a share-repurchase plan announced in February that was valued at $1 billion over two years.Shares reached a high of $49.74 in extended trading after closing at $45.58 in New York. The stock has dropped 11% this year.Fiscal first-quarter revenue in Dell’s personal computer division, called the Client Solutions Group, climbed 2% to $11.1 billion from a year earlier. Dell said there was “double-digit unit and revenue growth” in laptops sold to businesses in the quarter as well as “high-single-digit revenue growth” in mobile workstation computers. Overall, the commercial PC business gained 4% to $8.63 billion. Consumer PC sales declined 5% to $2.47 billion.Sales in Dell’s data-center hardware unit, called the Infrastructure Solutions Group, dropped 8% to $7.57 billion. Servers and networking gear sales fell 10% while storage hardware dipped 5%. The company attributed the drop to customers spending more on “remote work and business continuity solutions” rather than server farms.VMware Inc., the publicly traded software maker that Dell owns more than 80% of, saw revenue advance 12% in the first quarter, to $2.8 billion.(Updates with comments from CFO in the sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Dell Technologies (DELL) delivered earnings and revenue surprises of 32.67% and 3.09%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?
Computer hardware giant Dell Technologies late Thursday hurdled Wall Street's targets for its fiscal first quarter. The Dell earnings report drove its stock higher in extended trading.
Dell Technologies Inc. said that the COVID-19 pandemic has boosted its business in certain sectors Thursday and showed off financial performance well beyond expectations, sending shares more than 7% higher in late trading. The tech company revealed first-quarter earnings of $182 million, or 19 cents a share, on revenue of $21.9 billion, roughly even with sales from a year before. After adjustments for stock-based compensation and other effects, the company reported earnings of $1.34 a share, down from $1.45 a share a year ago. Analysts on average expected adjusted earnings of 97 cents a share on sales of $20.75 billion. "Customers need essential technology now more than ever to put business continuity, remote working and learning plans into practice," Chief Operating Officer Jeff Clarke said in the announcement. "In Q1, we saw orders with banking and financial services, government, healthcare and life sciences customers up 15 to 20 percent - all to meet immediate needs of their customers, communities and patients." Dell stock closed a penny higher at $45.58, but then shot to more than $49 in after-hours trading following release of the results.
Commercial notebooks reported double-digit unit and revenue growth, while mobile workstations posted high-single-digit revenue growth, the company said. "In Q1, we saw orders with banking and financial services, government, healthcare and life sciences customers up 15% to 20%," Chief Operating Officer Jeff Clarke said in a statement.
Dell Technologies posted better-than-expected results for its fiscal first quarter as demand for notebooks heated up amid the work-from-home trend.
NEW YORK, NY / ACCESSWIRE / May 28, 2020 / Dell Technologies, Inc. (NYSE:DELL) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on May 28, 2020 at 5:30 PM ...
Dell Technologies (NYSE: DELL) announces that Michael Dell, Dell Technologies' founder and chief executive officer, will present as a keynote speaker at the Bank of America 2020 Global Technology Conference in a virtual fireside chat on Tuesday, June 2, 2020 at 12:45 p.m. CT / 1:45 p.m. ET.
Dell Technologies (DELL) is set to report its F1Q21 results this Thursday after market close. Going into the print RBC Capital analyst Robert Muller has reiterated his DELL hold rating with a price target of $42, suggesting shares could pullback a further 2.5%. So far the stock has dropped 16% year-to-date.“While we view consensus expectations as reasonable, we expect Dell to report choppy results through FY21 given supply and demand disruptions related to COVID-19” Muller explains.Recent data points suggest difficulties in Dell’s primary standalone profit engine (ISG), says Muller, adding that he will be listening for commentary surround supply chains and backlogs. “We remain Sector Perform-rated on Dell largely due to its high debt burden, especially given the current macro environment” the analyst writes.Turning to the numbers, Muller is forecasting revenue of $20.9B, EPS of $0.95 and Adj. EBITDA of $2,174MM vs. consensus of $20.7B, $0.93, $2,184MM respectively.For FY21, he is now expecting $89.7B in revenue, alongside EPS of $5.06 and Adj. EBITDA of $9,842MM vs. consensus of $87.8B, $5.03, $9,939MM respectively. The analyst cites a more difficult near-term Server & Storage environment due to supply constraints and Covid-19 weakness as behind his lower numbers.On March 26, Dell withdrew its previous FY21 guidance of $92-95B/$5.90-6.60 for revenue/EPS and Dell is unlikely to reinstate guidance, says Muller.He notes that Hewlett Packard (HPE) posted declines of (20%) and (18%) for its Compute and Storage segments, respectively, during the April quarter due to supply constraints and Covid-19 market uncertainty, “which we view as a solid read thru for Dell's ISG business.”Overall, analysts are divided 50/50 on Dell stock, with 5 recent buy ratings vs 5 hold ratings. The average analyst price target, at $46, translates into upside potential of 6% from current levels. (See DELL stock analysis on TipRanks).Related News: Salesforce Earnings Preview: Five-Star Analyst Bullish Into Print Google, Apple Roll Out Coronavirus Contact Tracing Technology IBM Is Said To Make Far-Reaching Job Cuts Across The U.S. More recent articles from Smarter Analyst: * Coty Names Chairman Peter Harf As CEO To Steer Strategic Turnaround; Shares Pop 18% * Abiomed’s Heart Pump Gets FDA Emergency Use Status For Covid-19 Patients * Eli Lilly’s Taltz Injection Gets FDA Nod For Inflammatory Spine Arthritis Treatment * Eli Lilly Starts Dosing Patients In World’s First Covid-19 Antibody Trial
This week is a shortened trading week with major markets closed Monday in observance of the Memorial Day holiday. Investor focus will remain on the coronavirus and its impact on the U.S. economy as most states across the country continued their phased reopening plans.
(Bloomberg) -- International Business Machines Corp. cut an unspecified number of jobs across the U.S., eliminating employees in at least five states. The company declined to comment on the total number, but the workforce reductions appear far-reaching.“IBM’s work in a highly competitive marketplace requires flexibility to constantly add high-value skills to our workforce. While we always consider the current environment, IBM’s workforce decisions are in the interest of the long-term health of our business,” company spokesman Ed Barbini said Thursday in a statement. “Recognizing the unique and difficult situation this business decision may create for some of our employees, IBM is offering subsidized medical coverage to all affected U.S. employees through June 2021.”Based on a review of IBM internal communications on the Slack corporate messaging service, the number of affected employees is likely to be in the thousands, said a North Carolina-based worker who lost his job along with his entire team of 12. “This was far ranging -- and historical employment ratings, age and seniority did not seem to matter,” he said. The person asked not to be identified on concern that speaking publicly may impact his severance package.The cuts also affected employees in Pennsylvania, California, Missouri and New York, where IBM is based, according to people familiar with the matter.Another worker who lost his job said the reductions mostly focus on IBM’s North American workforce. Half of his 70-person department were cut on Thursday and told their last day with the company will be June 22. The person asked not to be identified discussing a sensitive topic. The tech industry has suffered widespread job losses after the coronavirus pandemic triggered a severe recession. Airbnb Inc. and Uber Technologies Inc. have cut about a quarter of their workforces. Earlier on Thursday, Hewlett Packard Enterprise Co. said it will eliminate some employees to save money, while Dell Technologies Inc. suspended several staff benefits. It’s unclear how many of IBM’s cuts are caused by the pandemic. The company has suffered years of falling revenue. In an earnings call in January, IBM discussed reducing costs through “aggressive structural actions” to improve the competitiveness of its Global Technology Services consulting unit, which represents about a third of revenue.In online forums Thursday, dozens of newly unemployed IBM workers, some who said they had been with the company for more than 20 years, lamented the situation and expressed fear over finding a new job in a recession. “With the Covid situation, it will be hard to find new opportunities,” one wrote.(Updates with HPE cuts in seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Hewlett Packard Enterprise Co. reported declining sales and announced it would cut jobs and reduce executive pay, saying the coronavirus pandemic has disrupted supply chains for data-center hardware.Revenue fell 16% to $6 billion in the period ended April 30, the San Jose, California-based company said Thursday in a statement. Analysts, on average, expected $6.19 billion, according to data compiled by Bloomberg. Profit, excluding some items, was 22 cents a share, compared with an average estimate of 28 cents.The company said it was putting in place a plan to cut costs, with a goal of $1 billion in savings by the end of fiscal 2022. Measures will including simplifying its product portfolio and supply chain as well as changing customer support, marketing efforts and real estate strategies, HPE said in the statement.“It definitely was a tough quarter by every measure and I’m disappointed in the performance, but I don’t see this as an indication of our capabilities,” Chief Executive Officer Antonio Neri said in an interview. “This was clearly driven by supply chain disruptions because of coronavirus,” including a shortage of chip components from China, disrupted logistics and social-distancing guidelines in some regions.Neri said he expected HPE’s sales to “recover sequentially,” with the third quarter posting better results than the second and the fourth improving further. Still, he said, it’s unknown just how bad the economic downturn will be.The company withdrew its annual profit forecast last month, citing uncertainty from the Covid-19 pandemic, which has forced millions of people to stay home to prevent the spread of the virus.HPE shares dropped about 5% in extended trading after closing at $10.36 in New York. The stock has dropped 35% this year.Neri has struggled to spark sales growth at the computing and networking company, which has seen year-over-year revenue declines in all but one quarter since the company split from HP Inc. in 2015. Competing with larger hardware rival Dell Technologies Inc. and dominant cloud-computing companies such as Amazon.com Inc. and Microsoft Corp., HPE has hitched its future to edge computing, which distributes data-processing capacity closer to customers rather than at centralized data centers. More immediately, the company has sought to support sales by offering $2 billion of financing for clients trying to preserve cash in the pandemic.Under the company’s three-year plan to reduce expenses, senior executives including Neri will take 20% to 25% cuts to their base salaries and the board reduced each director’s cash retainer by 25% from July to the end of the fiscal year. The hardware maker will consolidate offices where possible, Neri said. He expects more than half of HPE’s employees won’t return to the office full time, instead dropping in for meetings and collaboration when necessary.The number of employees who may lose their jobs under the cost-cutting plan hasn’t been determined, Neri said. The company will spend the next few months working out the details and evaluating how much it can save in other areas. HPE has already instituted some temporary pay cuts and has frozen employee raises and promotions, executives said on a conference call after the results were announced.In the fiscal second quarter, revenue declined in all of HPE’s business segments. Server sales dropped 20% to $2.64 billion and storage hardware fell 18%. Neri said the company saw “steady” demand from large enterprises while small and mid-sized businesses struggled. HPE wasn’t able to produce as much data-center hardware as clients were ordering, he said.HPE’s integration of supercomputer maker Cray is on track and should yield synergies by 2021, executives said on the call.(Updates with additional details starting in ninth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Dell Technologies Inc. has suspended some employee benefits, signaling that the computer hardware giant is cutting costs to contend with the weakening global economy.The company will discontinue contributions to employees’ 401(k) retirement plans under a matching program, beginning June 1 and continuing at least until the end of the fiscal year, Dell Chief Operating Officer Jeff Clarke wrote to employees in a recent memo, citing the contracting economy and estimates of shrinking spending on information technology.Dell has also frozen external hiring, internal promotions and raises for the rest of the fiscal year, a person familiar with the matter said. The company suspended an incentive program with so-called “inspire points,” which let employees translate commendations from managers and colleagues into prizes that included gift cards, grills and toys, said the person, who was not authorized to speak publicly. Dell hasn’t yet conducted mass layoffs or cut the salaries of rank-and-file employees.“While it’s difficult to predict the shape of the slowdown and a recovery, our job is to prudently manage our business so that we’re in a strong position on the other side of this situation,” Clarke wrote in the memo. “Given the economic uncertainty that continues, we’ve made another tough decision to maintain the strength of our team and future of our company.”Round Rock, Texas-based Dell has 165,000 employees around the world. The maker of personal computers, servers and software entered the Covid-19 pandemic with some existing challenges, including falling demand for data-center hardware, computer component shortages and a massive pile of debt stemming from its acquisition of EMC Corp. Chief Executive Officer Michael Dell has agreed to take a pay cut during the coronavirus crisis, temporarily forgoing most of his salary as a gesture of solidarity with his employees.“Like all companies right now, we’re constantly evaluating our business to plan for resiliency in the current environment and to support our team members, customers, and community in a way that sets us all up for success on the other side of this pandemic,” a Dell spokesman wrote in an emailed statement.Dell hasn’t reported results since February, so it’s unclear how high a toll the pandemic has taken on the hardware maker. Software maker VMware Inc., which Dell owns more than 80% of, also reportedly cut salaries, executive pay and 401(k) matches in response to the faltering global economy.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Dell Technologies (DELL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Technology companies have become a dominant driver in recent years of economic growth, consumer tastes and the financial markets. The biggest tech stocks as a group, for example, have dramatically outpaced the broader market in the past decade.