Demented Halloween For Dell Trick-No-Treat: Dell
Watch out behind you.Dell shareholders were thrown through the windshield on Tuesday.
Late Monday, probably around the same time you were carving your pumpkin, the PC giant reported earnings.
Dell delivered plenty of tricks but not one single treat -- they revealed a $450 million charge and forecasted revenues $400 million dollars lower than what analysts were expecting.
Shareholders are punishing shares right now, sending them to roughly their lowest close in two years.
We hope you were listening when we made our table pounding downgrade on Dell (on 8/16, we scolded Dell for spotty customer service):
In a survey conducted last quarter, users beat up on Dell, ultimately sending the world's largest PC vendor into a virtual tie with Apple. The report awarded Apple a score of 81, compared with an industry average score of 74, in results released today. Dell, on the other hand, earned a score of 74, 5 points lower than what they received last year. If you own a Dell and have ever tried to reach the customer support line, you can emphathize with this: the length of time on hold with Dell customer service representatives was the #1 complaint. We're unabashedly giving Dell an underperform rating until their CRM improves.When we made our downgrade, Dell was sitting at $37.
Today, Dell is near $28. The horror! The horror!
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