Prudential Cuts Revenue Forecast For IBM, Dell
The PC sector is coming under fire this morning.
Prudential Securities
has cut revenue estimates on PC makers
IBM
(IBM) - Get International Business Machines Corporation Report
and
Scroll to Continue
TheStreet Recommends
Dell
(DELL) - Get Dell Technologies Inc. Class C 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.
