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DELL EPS BEATS ESTIMATES STOCK SINKS ON GUIDANCE - Capital Street FX
In the Premarket trading session on Wednesday, Dell Technologies Inc.’s stock was trading at 50.80-lower by 4.49% as compared to its previous close.
The computer maker reported its earnings after the market close on Tuesday. Dell generated an adjusted EPS of $1.75 for its latest quarter. The EPS was above the market expectation of $1.58. The company brought in $22.93 billion in revenue for the third quarter ended 1st November. The revenue was, however, below the consensus estimates of $23.04 billion.
The PC maker lowered its full-year revenue forecast citing a shortage of chips from Intel. Dell cut its fiscal 2020 revenue forecast to between $91.5 billion and $92.2 billion, after previously stating a range of $92.7 billion and $94.2 billion. Stocks of the PC maker have rallied about 9% so far in 2019.
On the technical front, the current price is below the MA5 and the MA20. The current price is below the lower band of the Bollinger Bands and is heading downwards. The stock is expected to trade lower today.
TRADE SUGGESTION- LIMIT SELL AT 51.10 TAKE PROFIT AT 50.10 STOP LOSS AT 51.60
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