Dell (DELL) slipped modestly Wednesday morning after the PC giant postponed its annual analyst day.
Dell shifted the event to New York from Texas and delayed it to September from April. A note from Lehman Bros. analyst Harry Blount concludes that the Round Rock, Texas, company made the change "predicated on management's desire to have 1-2 quarters of actual results under their belt demonstrating the progress they are making in reinvigorating growth and improved customer satisfaction rather than just promising them to investors."
Even so, Lehman -- which rates the stock overweight and seeks to do business with Dell -- says the decision "will likely cap upward stock momentum over the near term as investors may fear the move signals management's lack of near-term visibility."
On Wednesday, Dell fell 18 cents to $29.63.