Little Leeway for Dell

Dell(DELL Quote) set the bar low when it initially delivered its guidance for the first quarter.

Now that Dell has warned it will be unable to meet even this lackluster financial target, the sense on the Street is that something is broken at the world's No. 1 PC maker.

How apparent this is to Dell, and what the company proposes to do about it, likely will overshadow any of the results contained in the company's earnings report after the market close Thursday.

"Dell needs to wake up," says David Schamens, a managing member at Invictus Funds, which has no position in Dell. "They really need to re-evaluate what has gone wrong and correct it," he says, suggesting everything from better products to a management shake-up. ...