Dell Warning Drags Down PC Makers

Shares of the PC makers were feeling the after-effects of Dell's(DELL Quote - Cramer on DELL - Stock Picks) warning earlier today, as many of the industry leaders slipped during the trading session.

Dell warned that its earnings for the fourth-quarter would come in between 18 cents and 19 cents, well below Wall Street's estimates of 25 cents a share for the period. Dell attributed the shortfall to a slowing global economy and a slowing demand for its products.

Compaq(CPQ Quote - Cramer on CPQ - Stock Picks) lost 94 cents, or 4.6%, to $19.56, and Hewlett-Packard(HWP Quote - Cramer on HWP - Stock Picks) was down $1.63, or 4.6%, to $34.13 in recent New York Stock Exchange trading. IBM(IBM Quote - Cramer on IBM - Stock Picks) dropped $2.50, or 2.3%, to $108.75 and Gateway(GTW Quote - Cramer on GTW - Stock Picks) fell $1.88, or 7.9%, to $21.82 on the Big Board.

Dell slid 31 cents, or 1.2%, to $25.31, and Apple(AAPL Quote - Cramer on AAPL - Stock Picks) fell 69 cents, or 3.5%, to $18.81 on the Nasdaq.