Dell Accounting Irregularities
August 16, 2007 | Posted by Jorge Just a few minutes ago, Dell (DELL) halted stock trading while performing an internal probe into their accounting division. It appears that they’ve discovered irregularities that were purposely made. Trading for DELL will resume at 16:50. Coupled with HP’s (HPQ) excellent quarter, I can only imagine Dell’s stock dropping a couple of points at least in after hours trading. Not sure how this will affect their earnings report at the end of the month but I would tread lightly. Comapnies dealing with accounting issues are too high of a risk for my taste.
Reuters Update:
Dell has stated it would restate four years of financial results, reducing net income for the period by as much as $150 million and revenue by 1 percent or less per year, after the former leading PC maker completed a lengthy audit of its accounting.
Categories: 
Tags: | 