Wtf!!!!!
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DELL Dell cuts guidance, will take $450 mln charge, look to streamline business
Co issues downside guidance for Q3 (Oct), sees non-GAAP EPS of $0.39 vs. $0.40 Reuters Estimates consensus; sees Q3 (Oct) revs of approx $13.9 bln vs. 14.3 bln consensus. Co comments "shortfall in revenue versus previous guidance was driven in part by the company's U.S. consumer and U.K. businesses, which fell short of expectations. The company continues to refocus on higher value products and services while optimizing profitability". Co also says it will take a Q3 charge of approx $450 mln, more than $300 mln of shich is associated with "cost of servicing systems that included a vendor part that failed to perform to Dell's specifications. This issue is limited to a small percentage of previous generation OptiPlex desktop systems". Charge also includes costs of workforce realignment, product rationalizations and excess facilities, actions are designed to streamline the business to improve operating efficiency.
Co issues downside guidance for Q3 (Oct), sees non-GAAP EPS of $0.39 vs. $0.40 Reuters Estimates consensus; sees Q3 (Oct) revs of approx $13.9 bln vs. 14.3 bln consensus. Co comments "shortfall in revenue versus previous guidance was driven in part by the company's U.S. consumer and U.K. businesses, which fell short of expectations. The company continues to refocus on higher value products and services while optimizing profitability". Co also says it will take a Q3 charge of approx $450 mln, more than $300 mln of shich is associated with "cost of servicing systems that included a vendor part that failed to perform to Dell's specifications. This issue is limited to a small percentage of previous generation OptiPlex desktop systems". Charge also includes costs of workforce realignment, product rationalizations and excess facilities, actions are designed to streamline the business to improve operating efficiency.
I doubt that it caused the ES to drop 10 handles in minutes..
Stock is not down that much in A/H anyways..
damnit!
That was crazy, luckily I was on the short side of it a couple times there at the end.
the er2/es really put some nice candy in the bucket today! 
BOO HOO -- the "liquidity pumpers" got bit by the ghost in the machine! HAHAHAHAHA!
BOO HOO -- the "liquidity pumpers" got bit by the ghost in the machine! HAHAHAHAHA!