Cindy Shaw
Cindy Shaw
above account appears both business changes guidance imaging improvement largely margins offered pc percent printing quickly seeing today
It appears they have made fundamental, largely sustainable changes in the business. The guidance they offered today was above expectations, and we're seeing fundamental improvement in margins in this business pretty quickly under this new CEO. Margins in both the PC and imaging and printing businesses, which each account for 30 percent of revenue, were better than expected.
aggressive appear confidence consumer current demand easily federal improve latter miss prices primarily public revenue split weak
The revenue miss was split evenly between weak demand in the public sector, primarily in U.S. federal buying, and Dell being aggressive with prices in the consumer sector. The latter is easily fixed. (But) Dell doesn't appear to have confidence federal demand will improve in the current quarter.
driven earnings improvement last primarily quarters
In our view, earnings improvement in the last two quarters has been driven primarily by better execution.
concerns cost credit cutting finally fully improving investors possibly putting realizing reflected rest
We think Hewlett-Packard will finally get credit for improving execution, possibly putting to rest concerns (H-P) is a cost-cutting story that is fully reflected in the stock. We think investors are finally realizing that cost cutting is only part of the story.
bit mixed results toward
The results are mixed with a near-term bit toward the negative.
earnings management quality tactic
We do not look favorably upon this tactic as we think it reduces quality of earnings and reduces management accountability and transparency.
hearing hoped
I was hearing of some of these problems, but I hoped things were more under control.
adapting changing existing focused instead longer model perfecting
We think Dell has been too focused on perfecting its existing model instead of adapting it to a changing environment. What was working for them before is no longer working.
contract duke half ibm left remaining
IBM may be left to duke it out for the remaining half of the contract that has yet to be awarded.
future imply might negative
If they do write it off, that might imply they are negative about future profitability. To write it off would be contradictory.
bucks company earnings given itself outrageous price sell trying
We all know this company has been trying to sell itself for 65 bucks (a share) minimum, which was a pretty outrageous price given the earnings outlook.
company earnings less likely
When earnings are improving, a company is less likely to take a write-off.
earnings expenses generally investors legal moving view
We view this as a legal way of artificially boosting earnings by moving expenses to a place where investors generally won't see them.
based citing conference cost credited cutting driver earnings execution finally growth headlines improving investors key questions realizing results wisdom
We have been citing improving execution as a key driver of earnings growth while conventional wisdom and headlines have credited cost cutting. Based on yesterday's results and questions on yesterday's conference call, we think investors are finally realizing that cost cutting is only part of the story.