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Investing.com - Shares of Dell Technologies (NYSE:DELL) edged lower in premarket U.S. trading after the computer hardware manufacturer announced that Chief Financial Officer Yvonne McGill was stepping down from the role.
Company veteran David Kennedy -- who is currently Senior Vice President of Global Business Operations, Finance -- will take over the position on an interim basis, Dell said. McGill, meanwhile, will continue to be an adviser until October 31.
Dell noted that McGill’s resignation was "not the result of any disagreements with the company on any matter relating to its financial statements, internal control over financial reporting, operations, policies or practices."
"We remain confident in our strong market position, continued growth and long-term value creation opportunities including advancing our modernization efforts," Dell Vice Chairman and Chief Operating Officer Jeff Clarke said in a statement.
Strategists at Morgan Stanley flagged that the change was considered to be abrupt, adding that the fact the firm reported its latest quarterly earnings only a little over a week ago and has an upcoming analyst day in less than a month "suggests to us there was some haste made in this decision."
The firm also reaffirmed its guidance for its fiscal third quarter and full year, which were previously released in August.
Last month, Dell offered soft per-share earnings guidance for the current three-month period, as surging enterprise spending on artificial intelligence servers continued to boost returns but also pushed up manufacturing expenses.]
For its third quarter, the company guided for adjusted per-share profit of $2.45, compared to Wall Street estimates of $2.55, although its revenue outlook of $26.50 billion to $27.50 billion topped estimates of $26.31 billion.
Dell’s stock price has risen by a little over 5% so far this year, outperforming peer HP but lagging the benchmark S&P 500.