Dell (DELL) NewsBite - HPQ Forecast Pulls Down DELL

Posted: Wednesday, May 20, 2009 9:47 AM EDT

Dell (NasdaqNM: DELL) opened at $11.45. So far today, the stock has hit a low of $11.31 and a high of $11.51. DELL is now trading at $11.43, down $0.13 (-1.12%). Over the last 52 weeks the stock has ranged from a low of $7.84 to a high of $26.04. Shares of DELL are trading lower today after competitor Hewlett-Packard (HPQ) forecast second-quarter earnings of 88 to 90 cents per share, while also saying revenue will likely fall between 0 and 2 percent. Analysts' are expecting earnings of 88 cents per share on flat revenue. This could be a bad sign for DELL. Technical indicators for the stock are bearish and S&P gives DELL a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on DELL the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 13 range. [ABR-Seven Summits Strategic Investments NewsBite]

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