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In the Premarket trading session on Friday, Dell Technologies Inc.’s stock was trading at 41.20-lower by 5.42% as compared to its previous close.
The computer maker reported its earnings after the market close on Thursday. Dell generated an adjusted EPS of $2.00 for its latest quarter. The EPS was above the market expectation of $1.99. The company brought in $24.13 billion in revenue for the fourth quarter ended 31st January. The revenue was also above the consensus estimates of $23.88 billion. The PC maker also announced a stock buyback program of up to $1 billion over the next 2 years.
The tech company on Thursday reported its slowest quarterly revenue growth since its return to the public market due to weakness in its data center business. The PC maker said in December last year that slower demand in China will continue to impact its results into fiscal 2021. The tech company reported a net income attributable to the company of $408 million in the quarter, compared with a loss of $209 million a year earlier. Shares of Dell Technologies have fallen 15.24% years-to-date.
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 41.40 TAKE PROFIT AT 40.00 STOP LOSS AT 42.10