Dell Inc. (NASDAQ:DELL) big losses and the continuing confusion over Facebook Inc (NASDAQ:FB)’s post-IPO concerns dominated activity in the tech sector Wednesday.
Dell shares declined almost 14% after the computer giant posted unsatisfactory quarterly results and a weaker-than-anticipated forecast late Tuesday.
Stimulated by Dell’s losses, the Nasdaq Composite Index dropped 27 points to 2,813. Facebook, on the other hand, turned back from two days of losses to increase in excess of 3% to $32.05.
Needham & Co. on Wednesday kicked off coverage of Facebook Inc. with a “buy” rating and a price estimate of $40 per share, as the social networking company’s debut as a public firm sustained to make big waves in the stock market.
Dell’s competitors include Hewlett-Packard Company (NYSE:HPQ) that slipped -5.05% to $20.68 with the total traded volume of 10.33 million shares.
Other technology stocks with bullish trend include Oracle Corporation (NASDAQ:ORCL) up 0.27% to $26.43, Frontier Communications Corp (NASDAQ:FTR) up 1.96% to $3.39 and Activision Blizzard, Inc. (NASDAQ:ATVI) up 1.92% to $12.23, whereas with bearish trend include Yahoo! Inc. (NASDAQ:YHOO) down -0.26% to $15.25, QUALCOMM, Inc. (NASDAQ:QCOM) down -1.26% to $57.20 and LSI Corporation (NYSE:LSI) down -1.93% to $6.84.
Dell Inc. (NASDAQ:DELL) after opening at $12.87 hit high price of $13.10 and then trading at $12.56 by plunging -16.68% at 10:44AM EDT and on current session volume of 31.94 million shares is surprisingly higher than its average volume of 14.85 million shares.
The stock price volatility was 2.81% for a week and 2.00% for a month as well as price volatility’s Average True Range for 14 days was 0.34 and its beta remained 1.35.
The liquidity measure in recent quarter results of the company was recorded 1.34as current ratio and on the other side the debt to equity ratio was 1.04 and long-term debt to equity ratio also remained 0.72. The Company had total cash at hand $14.82 billion and a book value per share as $5.06 in the most recent quarter.
DELL generated revenue of 62.07 billion in the following twelve months and earned $3.49 billion. The Company showed a positive 5.63% in the net profit margin and as well as in its operating margin which remained 7.14%. Company’s annual sales growth for the past five year was 1.57%.
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