Stocks closed lower on Thursday with the S&P 500 falling 0.6% and Nasdaq Composite dropping 1.1%. Volatility, which has rebounded from its lows, closed just below 14.5, which is still low by historical standards. After yesterday's close, a slew of earnings sent futures down even further. And thus far, this morning's Personal Consumption Expenditures (PCE) Index report, the Federal Reserve's preferred metric on inflation, has had a muted effect on markets.
Tech stocks look set to continue their disappointing end to what has otherwise been a stellar month as the sector struggled again early Friday.
The Federal Reserve's closely watched preferred inflation gauge figures are due today and expected to show price pressures being slowly subdued, potentially setting the stage for a rate cut later this year by the central bank; Dell Technologies (DELL) shares are slumping in premarket trading as its margins and operating income declines offset earnings that beat Wall Street estimates; Gap (GPS) shares are surging after the clothing and accessories retailer raised its outlook and posted a better-than-expected quarterly earnings report; Skydance Media has reportedly submitted a sweetened offer for a merger with Paramount Global (PARA); and MongoDB (MDB) shares are tanking after it lowered its full-year adjusted earnings and revenue guidance. U.S. stock futures are falling, extending Thursday's declines.
Dell Technologies shares tumbled about 14% in premarket trading on Friday, as the PC and server maker expects sizeable AI investments to dent its quarterly profit.
Dell executives say there is strong demand for AI-powered servers, particularly those powered by Nvidia chips.
Start Time: 16:30 January 1, 0000 5:32 PM ET Dell Technologies Inc. Q1 2025 Earnings Conference Call May 30, 2024, 16:30 PM ET Company Participants Jeff Clarke - Vice Chairman and COO Yvonne McGill - CFO Tyler Johnson - Senior VP and Treasurer Rob Williams - Director, IR Conference Call Participants Krish Sankar - TD Cowen Toni Sacconaghi - Bernstein Ben Reitzes - Melius Research Erik Woodring - Morgan Stanley Wamsi Mohan - Bank of America Michael Ng - Goldman Sachs Amit Daryanani - Evercore Simon Leopold - Raymond James Ananda Baruah - Loop Capital Asiya Merchant - Citigroup Steven Fox - Fox Advisors Samik Chatterjee - JPMorgan David Vogt - UBS Operator Good afternoon, and welcome to the Fiscal Year 2025 First Quarter Financial Results Conference Call for Dell Technologies, Inc. I'd like to inform all participants this call is being recorded at the request of Dell Technologies. This broadcast is the copyrighted property of Dell Technologies, Inc. Any rebroadcast of this information in whole or part without the prior written permission of Dell Technologies is prohibited.
The headline numbers for Dell Technologies (DELL) give insight into how the company performed in the quarter ended April 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
After Dell Technologies (DELL) reported fiscal first-quarter revenue and earnings that beat analysts' estimates, executives joined the company's earnings call to discuss Dell's guidance, margins, artificial intelligence (AI) server backlog, and AI opportunities.
Dell Technologies (DELL) came out with quarterly earnings of $1.27 per share, beating the Zacks Consensus Estimate of $1.25 per share. This compares to earnings of $1.31 per share a year ago.
Dell Technologies (DELL) reported first-quarter revenue and earnings that beat analysts' estimates on surging demand for artificial intelligence (AI) servers, though shares tumbled over 17% in extended trading Thursday as Dell's results failed to impress.
Dell Inc. (NASDAQ:DELL) posted first quarter earnings that topped Wall Street estimates with growth driven by demand for its AI servers. The technology company reported a 6% year-over-year jump in revenue to $22.2 billion, above estimates of $21.7 billion.
Dell reported first-quarter earnings on Thursday that beat analyst estimates for earnings and sales, as the company has emerged as one of the top vendors for AI servers. In this article DELL