Dell (DELL) shares plunged on the back of weak earnings and even weaker guidance, as the PC market continues to slow. In its fiscal second quarter, Dell earned 50 cents a share on $14.48 billion in revenue. Analysts polled by Thomson Reuters were looking for 45 cents a share on $14.64 billion in revenue. As PC sales continue to be pressured by tablets, smartphones and mobile devices, Dell said it expects third-quarter revenue to fall between 2% and 5% sequentially. It also lowered full-year earnings guidance to at least $1.70 per share. Analysts were looking for earnings of $1.90 a share. Shares of Dell dived on more than twice its average daily volume, falling 6.77% to $11.51 on more than 41 million shares.
Dell-rival HP (HPQ - Get Report) reports its earnings after the close of trading tonight. Analysts polled by Thomson Reuters expect the PC giant to earn 98 cents a share on $30.1 billion in revenue, down from $1.10 and $31.2 billion last year. Shares of HP fell sharply heading into the results, down 3.71% to $19.19. Interested in more on HP? See TheStreet Ratings' report card for this stock. Follow TheStreet Tech on your wireless devices. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull