Dell Technologies

Sector Update: Tech Stocks Mixed Late Afternoon

Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.8%.The Philadelphia Semiconductor index rose 0.4%.In corporate news, Palo Alto Networks (PANW) shares fell 10% after the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year.A judge in federal district court in Virginia on Wednesday rejected the United States' proposed structural remedies that would require Alphabet's (GOOGL) Google to sell AdX, its advertising exchange, according to court documents. Alphabet shares were up 0.8%.Dell (DELL) shares jumped 15% after it reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.Microsoft-backed (MSFT) OpenAI was hit with multiple lawsuits Wednesday alleging that the AI company could have done more to help prevent a school shooting earlier this year in Canada by informing law enforcement of the suspected killer's activity on ChatGPT, according to media reports. Microsoft shares were down 0.8%.

$DELL$GOOGL$MSFT$PANW

Dow JonesNasdaq CompositeS&P 500$ADP$AVGO$BF.A$BF.B$DELL$FIVE$HPE$PANW$SNOW

Dell Print Showed 'Broad-Based Strength' But Computer Maker Faces AI Growth Slowdown Concerns, UBS Says

Dell Technologies' (DELL) latest results and guidance indicated "broad-based strength," though there are concerns that artificial intelligence-driven compute and storage growth may decelerate sharply in fiscal 2028 or 2029 amid rising prices, UBS Securities said in a note e-mailed Wednesday.Late Tuesday, the computer maker raised its full-year financial projections after delivering a second-quarter beat amid record AI server demand."We've had a strong first half of the year, and we expect the second half to be stronger," Dell Chief Financial Officer David Kennedy said on an earnings conference call, according to a FactSet transcript. "The momentum we've seen continues, and we are raising our expectations across every line of business."Dell's latest print showed "broad-based strength," UBS analysts David Vogt and Andrew Spinola said in a note to clients.The brokerage raised its price target on the company's stock to $500 from $455, but reiterated its neutral rating, citing limited visibility into sustained growth in 2028 following "exceptional" strength expected in 2027."While near-term momentum and enterprise AI demand remain strong, steep industrywide price increases raise durability concerns for server, storage, and (personal computer) demand," Vogt and Spinola said.There are concerns that AI-driven compute and storage growth could slow sharply in fiscal 2028 or 2029, according to the note. "The muted response after two quarters of sizable revisions suggests investors still view the cycle as potentially cyclical rather than secular."Dell shares were up 14% in Wednesday late-afternoon trade, bringing its gains to nearly 286% so far this year.UBS boosted its earnings forecast for the company to $26 a share from $19.41 for fiscal 2027 and to $29.86 from $21.90 for 2028. The brokerage also increased its 2027 and 2028 revenue estimates to about $193 billion and $232 billion, respectively, from $178 billion and $202 billion, according to the note."Despite rising near-term estimates, the key debate is whether server, storage, and PC demand can remain durable after steep industrywide price increases," Vogt and Spinola wrote. "Our framework balances solid near-term momentum and growing enterprise AI demand against the risk of a cyclical slowdown after the price-driven refresh cycle."AI server maker Hewlett Packard Enterprise (HPE) is scheduled to report its fiscal third-quarter results after the closing bell Wednesday.Price: $473.77, Change: $+48.77, Percent Change: +11.47%

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US Markets6d ago

Update: Equities Rise Intraday as Yield Rally Fades

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday as a rally in Treasury yields lost steam, while commodity traders continued to track developments in the US-Iran conflict.The S&P 500 was up 0.4% at 7,661.4 after midday Wednesday. The Dow Jones Industrial Average and the Nasdaq Composite gained 0.3% each to 52,947.5 and 26,182.3, respectively. The indexes finished Tuesday trading in the red for the third consecutive session.Most sectors were in the green intraday, led by materials, while real estate saw the steepest decline.Treasury yields were little changed intraday, with the two-year yield at 4.39% and the 10-year yield at 4.79%. Earlier Wednesday, the 10-year rate hit 4.818%, its highest level since November 2023, CNBC reported."While easing slightly after hitting multi-year peaks, yields remain elevated," Stifel said in a note on Wednesday.Iran has expanded the number of vessels it says must not sail through the Strait of Hormuz, Reuters reported Wednesday.The US Central Command said Tuesday that its forces completed a wave of strikes against Iranian military targets. Iran reportedly launched retaliatory attacks on Kuwait, Jordan and Bahrain.West Texas Intermediate crude oil was up 1.1% at $91.17 a barrel intraday Wednesday, while Brent advanced 1.2% to $95.81.In company news, shares of Dell Technologies (DELL) were up 9.2% intraday, the best performer on the S&P 500, after the company's fiscal second-quarter results beat Wall Street's estimates.Palo Alto Networks (PANW) slumped nearly 11%, the steepest decline on the S&P 500, as the cybersecurity firm's fiscal fourth-quarter adjusted gross margin declined year over year.Brown-Forman (BF.A, BF.B) reiterated its guidance for fiscal 2027 organic sales on Wednesday as it flagged continuing consumer headwinds that drove weaker-than-expected first-quarter top-line. The company's class A and B shares were up 3.2% and 3.4%, respectively.Broadcom (AVGO), Snowflake (SNOW), Hewlett Packard Enterprise (HPE) and Five Below (FIVE) are scheduled to release their quarterly results after markets close Wednesday.In economic news, US private sector employment grew at its slowest pace in seven months in August, ADP (ADP) data showed, ahead of the official jobs report due on Friday.Data from the Bureau of Labor Statistics are likely to show Friday that the US economy added 55,000 nonfarm jobs last month, compared with a drop of 23,000 for July, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.1%.Spot gold rose 0.9% to $4,368.15 per troy ounce, while silver edged up 0.1% to $65.44 per ounce.

Asia Markets6d ago

Update: US Equity Indexes Rise Amid Lower Treasury Yields, Higher Crude Oil

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose after midday Wednesday, while government bond yields slipped and crude oil prices advanced amid a worsening of hostilities against Iran.The Nasdaq Composite rose 0.3% to 26,177.4, the S&P 500 climbed 0.4% to 7,660.9, and the Dow Jones Industrial Average advanced 0.4% to 52,955.4. All sectors, except consumer discretionary and real estate, rose. Communication services and materials topped the gainers.The additional strikes Tuesday on Iran led to Tehran attacking Jordan, Bahrain and Kuwait even though US President Donald Trump had warned that Iran would be "hit much harder" if it retaliated to the first strikes in over a month. "They will be hit again at a much harder and higher level, but it will not be the biggest attack of them all, that is waiting in the wings and, when it is over, there will be very little left of the Islamic Republic of Iran!" Trump posted on Truth Social on Tuesday.The Iran Revolutionary Guards Corps said two oil tankers exploded after hitting a mine and are now on fire, Al Jazeera, a Middle Eastern broadcaster, reported Wednesday.The front-month US West Texas Intermediate crude oil contract rose 0.7% to $90.89 per barrel, and global benchmark North Sea Brent climbed 1% to $95.61 per barrel. Both crude types were down by more than 0.5% earlier in the session.Most US Treasury yields slipped, albeit moderately. The 10-year yield edged down by less than one basis point to 4.8%. The two-year yield slipped less than one basis point to 4.39%.Gold futures advanced 0.4% to $4,415.3, and silver futures marched 0.2% higher to $65.52.Meanwhile, ADP's monthly measure of private payrolls showed a 38,000 increase in August, below a 47,000 gain expected in a Bloomberg-compiled survey, following a 46,000 increase in July. Service-providing jobs climbed 48,000, with education and health services jobs up 45,000, while manufacturing sector jobs contracted 17,000."Pay can tell us a lot about today's choppy hiring," said Nela Richardson, chief economist at ADP. "To understand hiring patterns, you have to look deeply into where pay growth is accelerating, where it's slowing, and for whom. Once-predictable wage growth has been overtaken by the complexities of demographic change, persistent inflation, and AI's effects on jobs."New orders for US factory goods rose 0.9% in July, above expectations for a 0.7% increase in a survey compiled by Bloomberg and following a 0.2% decrease in June. Excluding a 2.3% increase in transportation orders, new orders would have been up 0.6% after a 0.1% decline in June.Dell Technologies (DELL) jumped 9.4%, the top gainer on the S&P 500, after the company reported higher fiscal Q2 non-GAAP earnings and revenue, and raised its fiscal 2027 guidance.Palo Alto Networks (PANW) sank 11%, the worst performer on the S&P 500 and the Nasdaq, as the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year.

Dow JonesNasdaq CompositeS&P 500$DELL$PANW

Sector Update: Tech Stocks Mixed Wednesday Afternoon

Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.3%.The Philadelphia Semiconductor index rose 0.2%.In corporate news, Dell (DELL) shares jumped 9% after it reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.Nvidia (NVDA) is in late-stage talks to buy AI startup Hugging Face, in a deal that may total about $14 billion, Bloomberg reported. The companies may strike a deal as early as this week that could include a $1 billion retention package for Hugging Face workers, the report said. Nvidia shares rose 3.5%.Microsoft-backed (MSFT) OpenAI was hit with multiple lawsuits Wednesday alleging that the AI company could have done more to help prevent a school shooting earlier this year in Canada by informing law enforcement of the suspected killer's activity on ChatGPT, according to media reports. Microsoft shares were down 1%.

$DELL$MSFT$NVDA

Sector Update: Tech

Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) decreasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 0.5%.The Philadelphia Semiconductor index rose 0.4%.In corporate news, Dell (DELL) shares jumped past 7% after it reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.

Deutsche Bank Adjusts Dell Technologies Price Target to $520 From $480

Dell Technologies (DELL) has an average rating of overweight and mean price target of $571.77, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $456.23, Change: $+31.23, Percent Change: +7.35%

Dow JonesNasdaq CompositeS&P 500$DELL

Japan6d ago

Update: US Equity Indexes Rise in Midday Trading

(Updates with index/price moves, macroeconomic data, and geopolitical news from the first paragraph.)US equity indexes rose as crude oil prices and government bond yields fluctuated.The Nasdaq Composite rose 0.4% to 26,215.4, the S&P 500 climbed 0.5% to 7,667.3, and the Dow Jones Industrial Average advanced 0.4% to 52,963.7 after midday Wednesday.Iranians and their Arab neighbours feared a return of war on Wednesday after the biggest exchange of fire between Tehran and Washington since July, with US forces striking Iran's southern coast and Iran firing at American bases across the region, Reuters reported. The Iran Revolutionary Guards Corps said that two oil tankers exploded after hitting a mine and are now on fire, Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil contract added 0.6% to $90.79 per barrel, and global benchmark North Sea Brent climbed 0.9% to $95.53 per barrel. Both crude types were down by more than 0.5% earlier in the session.Most US Treasury yields traded mixed, albeit moderately. The 10-year yield edged up by less than one basis point to 4.8% after trading slightly lower earlier in the session. The two-year yield slipped less than one basis point to 4.39%.Meanwhile, ADP's monthly measure of private payrolls showed a 38,000 increase in August, below a 47,000 gain expected in a Bloomberg-compiled survey, following a 46,000 increase in July. Service-providing jobs climbed 48,000, with education and health services jobs up 45,000, while manufacturing sector jobs contracted 17,000.Dell Technologies (DELL) jumped 10%, the top gainer on the S&P 500, after the company reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.

Dell's Strong Fiscal Q2, Higher FY 2027 Guidance Offset by Uncertain 2028 Growth, UBS Says

Dell Technologies (DELL) posted strong fiscal Q2 results and raised full-year guidance, though the maker of servers, storage systems and PC faces an uncertain growth outlook in fiscal 2028, UBS Securities said Tuesday in a report.Dell shares traded around 17.5 times the fiscal 2027 EPS midpoint target of $25.50, reflecting concern that AI-driven compute and storage growth "may slow sharply" in fiscal 2028 or 2029, UBS said."The muted response after two quarters of sizable revisions suggests investors still view the cycle as potentially cyclical rather than secular," the report said."While near-term momentum and enterprise AI demand remain strong, steep industrywide price increases raise durability concerns" for growth, UBS said."The market appears to have already priced in beats and guidance increases across the key AI metrics including revenue and orders," the report said.UBS raised its price target on Dell stock to $500 from $450 and maintained its neutral rating.Price: $451.27, Change: $+26.27, Percent Change: +6.18%

BofA Securities Lifts Dell Technologies Price Target to $600 From $505, Maintains Buy Rating

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BP$DELL$EEM$EETH$EXI$FAS$FAZ$FCEL$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MFC$NIO$PMR$QQQ$QURE$RTH$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Sector Update: Tech Stocks Lean Lower Premarket Wednesday

Technology stocks were leaning lower premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) declining by 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.1%.Dell Technologies (DELL) stock was up more than 9% after the company posted higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.Hewlett Packard Enterprise (HPE) has expanded its partnership with Tottenham Hotspur Football Club to modernize the technology infrastructure for the club's stadium, including hybrid cloud, networking and artificial intelligence-driven operations, Tottenham said. Shares of Hewlett Packard Enterprise were up more than 3% pre-bell.Sprinklr (CXM) shares were down more than 5% after the company reported a decline in fiscal Q2 adjusted earnings and cut its fiscal 2027 adjusted EPS outlook.

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Commodities6d ago

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Wednesday Amid Escalating US-Iran Tensions

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.03%, and the actively traded Invesco QQQ Trust (QQQ) retreated 0.2% in Wednesday's premarket activity, as markets traded mixed amid escalating US-Iran tensions.US stock futures were also mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.2%, and Nasdaq futures retreating 0.1% before the start of regular trading.Mortgage applications rebounded by 0.8% in the week ended Aug. 28 despite a further increase in average 30-year fixed mortgage rates, according to Mortgage Bankers Association data released Wednesday.ADP's monthly measure of private payrolls showed a 38,000 increase in August, well below expectations compiled by Bloomberg as of 7:45 am ET for an increase of 47,000 after a 46,000 increase in July.Factory orders data for July will be released at 10:00 am ET, followed by the weekly petroleum stocks data at 10:30 am ET.The Fed's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, posts at 2 pm ET.In premarket action, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) retreated 1.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, while the Vanguard Industrials Index Fund (VIS) was up 0.8%, and the iShares US Industrials ETF (IYJ) was inactive.FuelCell Energy (FCEL) stock was down more than 12% before the opening bell after the company reported a wider-than-expected fiscal Q3 adjusted loss.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.1%, the iShares US Technology ETF (IYW) was 0.8% lower, and the iShares Expanded Tech Sector ETF (IGM) lost 0.2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) decreased by 0.1%, while the iShares Semiconductor ETF (SOXX) fell by 0.5%.Dell Technologies (DELL) shares were up 8% after the company posted higher fiscal Q2 adjusted earnings and revenue in addition to lifting its full-year guidance.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.9% lower.Manulife Financial (MFC) shares traded down 4% in early-hours activity after the company said late Tuesday it priced a $750 million public offering in the US of 6.146% subordinated notes due 2041.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.1%, and the iShares US Consumer Staples ETF (IYK) advanced 0.03%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) was 0.3% higher. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.4%.Nio (NIO) shares were down more than 3% pre-bell after JPMorgan downgraded the company to neutral from overweight.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.5%, the Vanguard Health Care Index Fund (VHT) was down 0.8%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.1% higher.UniQure (QURE) stock was up 3% premarket after the company submitted a Biologics License Application to the US Food and Drug Administration to request accelerated approval of ifezuntirgene inilparvovec, or AMT-130, its investigational gene therapy for Huntington's disease.EnergyThe iShares US Energy ETF (IYE) was down 0.2%, while the State Street Energy Select Sector SPDR ETF (XLE) was 0.5% lower.BP (BP) stock was down more than 1% before market open after the company appointed Ian Tyler as board chair.CommoditiesFront-month US West Texas Intermediate crude oil was down by 0.8% to $89.53 per barrel on the New York Mercantile Exchange. Natural gas was up 1.1% at $2.94 per 1 million British Thermal Units. The United States Oil Fund (USO) lost 1.2%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for November were down by 0.4% to $4,379.40 an ounce on the Comex. Silver futures retreated 0.6% to $64.96 an ounce. SPDR Gold Shares (GLD) increased 0.1%, and the iShares Silver Trust (SLV) was 0.4% higher.

Sector Update: Tech