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Dell announced it was delaying its 10-K for fiscal year 2007 until April 18th. The original filing was due on April 3rd.
The audit committee said they have identified numerous accounting errors, while saying "there may have been evidence of misconduct & deficiencies in financial controls".
Clearly, something has gone seriously wrong. Dell has frozen its 401k plans for employees, and that is very unfortunate.
Below is a list of how analysts had rated the stock prior to today's annoucement. Its clear that taking the advice from analysts who you rarely hear about is better than those you are familar with.
I wish they would just cut the crap. They should issue just 3 ratings: Buy, Sell, and RUN...
If an analyst issues a "neutral" rating, its clear they do not have a clue of what is going on.
Ned Davis Research- March 12, 2007: Buy
Goldman Sachs- March 26,2007: Buy
JP Morgan- February 1, 2007: Neutral
UBS- January 22, 2007: Neutral
Columbine Capital Services, Inc.- March 11, 2007: Sell
Thomas White- February 2, 2007: Underperform

