We are officially the biggest loser on the stock exchange today, with a whopping 31.88% drop. Looks like the analysts weren't kidding when they said they didn't believe Mike anymore.
14 replies (most recent on top)
The analysts were laughing thier heads off at the new CFO on the earnings call. They asked Sal if it was a bad move to change the CFO (especially with one that's not competent) and lessons to be learnt.
Sal did his usual blaming the mess on change in offerings from Regional to Global rather than a cr-p CFO. Then tried to cover up by saying the new cfo Del hasbeen will put in robust processes to make sure earnings etc are stable and steady.
Amazing how the analyst worked out in weeks that Sharp was 10x better than Del bean counter, and Del Bean was not upto the task ahead.
Things just go from worst to worts with these 2nd rate execs who aren't upto it.
How is the new CFO doing? Will he bring any needed changes?
"a market cap now actually below the amount of money wasted on share buybacks in that time."?
SERIOUSLY???
I'd say that constitutes not just complete ineptitude at business skills or a lack of grasp of even accounting 101, but a combination of total self-interest/greed and no ability at the fundamentals of primary-school arithmetic.
As well our platform-X capability was explained. It is just some headwinds of the terminated contracts which disillusioned the markets and it will all be normal.
Just some headwinds? a 16th consecutive quarter of shrinkage by Mikey2, even worse than forecast and a market cap now actually below the amount of money wasted on share buybacks in that time.
It will all be normal - 7-10% shrinkage of revenue until there is nothing left. But Mikey2 will have pocketed his $100M+ and left long before then - all normal, nothing to see here, move along, Platform-X and its scripts all fully in control
Atos won't be back, they have imploded.
Just to make them even more miserable Saleh is now their cfo too. He's bound to make it better...
Anyone still at DXC that isnt retiring this year is a fool. I left last year and still project that I was on haven't moved forward because management of those projects su-k
Sorry, it was ATOS previously and the equity company more recently.
Wonder if they will be back trying for a bargain or are things too broken now?
Anyone remember how much Cap were offering a while back? The one that got rejected because it was too low.
A buyout is the only way I will break even on the staff share scheme that goes back to the CSC days when share were pushing $100!!!
From our highest Close share price to last night's, it is an 81% drop over the two Mikes
From the Share Bonus just gone, I guess losing over 80% of the company's value constitutes a "Far Exceeds" for a CEO?
Must be scope for me to get $20m then for filling in my timesheet
DXC Technology Stock Sinks as Analysts Say Progress Is ‘Reversing’
Barrons.com
Aug. 3, 2023 11:24 am ET
DXC Technology DXC –29.44% shares were tumbling on a slew of downgrades from Wall Street firms, a day after delivering a disappointing earnings report.
In the race to the bottom, DXC is a generational talent.
We are the AI powerhouse and leading in insurance and automotive industry with that. ... and we gave examples of that.
As well our platform-X capability was explained. It is just some headwinds of the terminated contracts which disillusioned the markets and it will all be normal.
Employees have been nickeled and dimed to death by CSC, EDS, HPE and DXC. I'm surprised it has lasted as long as it has. When you take your employees for granted and come up with excuses year after year as to why there is no money for pay raises, you have ki-led their motivation and morale. Clients see it and seek other service providers. Typical was my manager having the audacity to say at my appraisal "a bonus is better than a pay raise" on one of the rare occasions I got a paltry bonus. My people manager had flown in for appraisals and sat there stone faced.
Absolutely love it. That's what happens when you treat your employees like sht and nickle and dime them. Pretty soon all DXC will have left to count are the nickles and dimes as the company continues to swirl around the bowl.