“Dell shares were sliding Thursday on news that $280 million in expenses related to restructuring efforts and stock-option expenses would cut deeply into its fourth-quarter results,” TheStreet.com reports.
“Shares of the Round Rock, Texas-based firm were dropping 8.5% to $9.96 heading into the close Thursday, a day after the company said the $280 million in expenses would cut its earnings by 11 cents a share,” TSC reports.
MacDailyNews Note: Dell closed today at $9.95, down $0.93, or -8.55%.
TSC reports, “Dell said the expenses will include $135 million in restructuring efforts as part of a plan to cut $3 billion in expenses by 2011. Another $145 million in stock-based compensation will go on the books when Dell delivers its fourth-quarter report on Feb. 26.”
“For Dell followers, this is just one more piece of bad news. Earlier in January, AmTech Research downgraded the stock, citing ‘multiple headwinds,'” TSC reports.
Full article here.
MacDailyNews Take: Why drag it out, Mikey? Just SIDAGTMBTTS.
