Movers: Dell, Santander, Petsmart, Greenfield Online, Marvell Technology
Dell (DELL) posts $0.31, vs. $0.33 a year ago, second quarter EPS as narrowed gross margin offset 11% revenue rise. Wall Street was looking for $0.36. Says it will continue to incur costs as it realigns its business to improve competitiveness, reduce headcount and invest in infrastructure and acquisitions. Sees continued conservatism in IT spending in the U.S.; conservatism has extended into Western Europe and several countries in Asia. S&P downgrades to hold from buy.
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