Dell reports strong quarter, but Wall Street isn't satisfied
Article Abstract:
Despite the fact that Dell Computer Corp.'s fourth-quarter earnings met analysts' expectations, Wall Street analysts were unimpressed, citing Dell's slowed sales growth of just 38 percent. Analysts expected a higher sales growth rate, and now question whether the slowdown in growth rate is a one-time phenomenon or an enduring change in the company's outlook. Dell's chief executive Michael Dell touted the firm's healthy performance and noted that Dell's growth rate still outpaced that of the computer industry as a whole by a factor of three and a half, and that of its closest competitor by a factor of three. Dell reported earnings of $425 million, or 31 cents a share, up 49 percent, as compared to $285 million, or 20 cents a share, in the equivalent period a year ago.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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Hewlett in $1.15 billion deal for maker of credit card devices
Article Abstract:
HP has announced its intention to acquire Verifone, a leader in the credit card authorization device market, for $1.15 billion. Verifone's stock rose 57% to $47.25 when news of the acquisition hit Wall Street. HP's stock fell 2% to $49.375 a share. Analysts declared the acquisition to be a sound move on HP's part and predict it will improve the company's visibility in the electronic commerce market. HP decided to purchase Verifone after the two companies worked together. Verifone's products do not overlap with any of HP's and the Verifone will continue to operate independently with its current management in place. One benefit of the acquisition is that it places HP in a position to provide smart card devices to consumers in the future.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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