Sterne Agee Raises Estimates On Dell

According to Sterne Agee, Dell DELL estimates are raised. Sterne Agee said that it applauds DELL for posting an unexpectedly strong April quarter in which it handily beat EPS and gross margin expectations despite a $400 million top-line miss. “Gross margin came in at 23.4%, up a remarkable 580 basis points Y/Y, deflecting concerns with the unfortunate natural disasters in Japan and increasing competition. We rate DELL shares NEUTRAL as we remain concerned with the company's longer-term fundamental position and believe the company needs to take more aggressive steps to reinvent itself.” Dell closed yesterday at $15.90.