Last night I posted this:
I somehow couldn’t let this go, a tweet from CNBC Fast Money’s Guy Adami:
guy_adamiRumor DELL posted EPS by mistake
Googled and found out Dell was supposed to report AFTER the market but due to an accident of posting presentation materials early, word and numbers leaked giving investors the opportunity to profit from the better than expected numbers from the computer maker. Information courtesy of The Business Insider:
Dell made a rare mistake today, reporting its earnings before the closing bell, giving some traders a chance to react while the market was still open.
After a flat trading day, Dell shares started to spike up at 3:42 p.m., going from $14.62 to $15.76 in a matter of minutes — a roughly 8% increase.
Here’s what a Dell rep told us: “Some presentation material got posted early. It was an inadvertent error on our part. Consistent with full disclosure, we immediately posted our news release as soon as we recognized what had happened.”
Shares closed 15.65 or 6.7% up, but after-hours it went down by a 1%. Still some 5% profit for those able to access the information!