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Dell Dragging Down Tech Sector Wednesday

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  • Description

    FBN’s Nicole Petallides with the stocks moving the markets.

  • Duration 1:39
  • Date

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The New York Stock Exchange this unit gulf Dell dragging down I think all the big name -- -- what's the problem was dealt.

It absolutely is.

-- it down over 15%.

This is -- 52 week low -- -- on their forecast is well below the analysts' estimates they're not doing well in any of the different areas whether it's consumer whether it's that -- the big companies public public sector they're weak forecast.

Is very in the stock down about 15% their earnings were dropping and then lower revenue has pumped up nothing -- here for down.

We -- months of the month's new home sales number up 3.3 percent month of -- month that may have helped the market a little bit.

Let me tell you still with us tell us about the of the big got tech stocks which all members of the -- authority and -- -- Yeah Hewlett-Packard is the number one loser on the Dow in percentage terms -- it down over 5%.

Microsoft and Intel also among the losers and I gotta tell you -- -- there as well on IBM also losers all tech names that are Enid down how.

Are obviously moving down at -- in sympathy with either -- -- doubt the unbelievable.

If they can sell if you can sell he sees Hewlett-Packard looks bad we can't sell PCs Microsoft looks back and I'm gonna Solomon operating system and Intel makes the -- so.

Down goes the PC market and down goes the whole raft of tech -- I guess that's with every right.

It's a cat and really is that dairy herd cats and excited big picture -- -- wanted to technical ounce down here today and just talking about this down trend that started out on May first.

Big picture for the market and that -- we saw little pop on Monday we're still on this downtrend moving our -- I think we'll watch -- market -- thanks to call Dow's down 83 -- --

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