Breeze Holdings Acquisition Corp
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Company profile

Breeze Holdings Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company focuses for a target business in the energy industry in North America. The Company has no operations and has not generated revenues.

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Dell stock downgraded as Goldman Sachs joins the chorus with PC-market concerns

10:39 am ET April 1, 2022 (MarketWatch)

By Emily Bary

Goldman downgrade marks the second for Dell this week

Another analyst is taking a more cautious view of the market for personal-computers, prompting a downgrade of Dell Technologies Inc.'s stock.

Goldman Sachs analyst Rod Hall lowered his rating on Dell shares (DELL) to neutral from buy late Thursday, pointing to signs of moderating PC demand among low-end buyers and concern that higher-end PC demand could follow the same pattern.

"We also believe that higher inflation, fading stimulus support and macro events-led uncertainty is likely to lead to more cautious discretionary consumer spending as we progress through 2022," he wrote in his note to clients.

Hall notes high average selling prices in the market, which he attributes to strong demand for premium devices and scant discounting. He expects that prices could "soften" in the second half of the year as the supply/demand balance improves and as demand for lower-end units further trails off.

Dell was previously on Goldman's Conviction List, but Hall removed it from there in conjunction with his downgrade.

"Recall, our buy rating on DELL was primarily based on the value unlock opportunity for the company from the VMW [VMware Inc.] spinoff which has since been completed," he wrote.

Hall isn't the first analyst to voice concerns this week about the possible end of a pandemic-driven boom in the market for personal computers. A Morgan Stanley analyst downgraded shares of Dell and HP Inc. (HPQ) Thursday, while a Barclays analyst cut his rating on shares of Advanced Micro Devices Inc. (AMD), citing potential risk in several of that company's end markets, including PCs.

Shares of Dell were off 2.5% in Friday's session, after declining 7.6% in Thursday trading. The stock has declined 13% over the past three months as the S&P 500 has lost 5%.

-Emily Bary


(END) Dow Jones Newswires

April 01, 2022 10:39 ET (14:39 GMT)

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