Prudential Cuts Revenue Forecast For IBM, Dell

Author:: David A. Gaffen
Publish date:: Dec 28, 2000 8:35 AM EST

The PC sector is coming under fire this morning.

Prudential Securities

has cut revenue estimates on PC makers

IBM

(IBM) - Get Report

and

Dell

(DELL) - Get Report

citing weakness in PC sales.

Prudential cut fourth-quarter revenue estimates for IBM to $24.5 billion from $25.3 billion. IBM was lower in preopen trading, with shares lately down $2.69, or 3.2%, to $82 on 35,300 shares traded on

Instinet

. Pru trimmed its revenue estimates for Dell to $8.29 billion for the quarter from a previous estimate of $8.38 billion. Dell was the most actively traded stock in preopen Instinet trading, losing 25 cents, or 1.4%, to $17.75 on 51,000 shares.