post-close bombshell was taking apart the box makers in early trading and the rest of the market.

Last night after the close, PC giant


said it expects to miss fourth-quarter earnings estimates by a substantial margin. Investors dragged the company's shares into the mud during after-hours trading, cutting the company's value almost in half.


took a closer look at the

plunge in a piece last night.

Apple's warning was certainly having its effect on the

Dow Jones Industrial Average. PC-making components





(IBM) - Get Report

were weighing most heavily on the blue-chip index, with H-P slashing some 44 points and IBM knocking off around 20 points.

Other big downers for the Dow were


(INTC) - Get Report



(BA) - Get Report


In fact, the PC maker may not be the only "bad apple" in the patch today. An article on

CNET News.com

reported that shipments of


(INTC) - Get Report

long-awaited Pentium 4 processors are going to be delayed.

Citing PC manufacturers, the story says that the Pentium 4 is not expected until the week of November 20 and possibly later. The processor had been expected to arrive around the end of October.


(INTC) - Get Report

, which issued a

profit warning last week, was lately down $1.94, or 4.41.94%, to $42.50.

Boeing was suffering from disappointment over

Singapore Airlines'

decision to purchase airplanes from its competitor


. Boeing had been hoping to win the contract.

From the close of composite trading, H-P was off 6.3%, IBM was down 2.0% and Boeing was off 3.7%.



was getting hit hardest among the PC-makers because it, like Apple, is consumer-centric. Oh, and it was downgraded by

Morgan Stanley Dean Witter

. Gateway was lately trading down 14.8%. Other PC-makers, like

TheStreet Recommends





(DELL) - Get Report

were off 2.0% and 7.5%, respectively.

Elsewhere on the Nasdaq,

Research in Motion


was surging this morning, lately up 19%.

On the NYSE, the largest independent cement-maker in the U.S.,



was flying following news it would be acquired by Mexico's biggest cement-maker,



, for $2.6 billion.

United Airlines

(UAL) - Get Report

was taking a beating following its own earnings warning this morning. United said it expects to report a loss for the third quarter and possibly in the fourth, due to operational "disruptions." The airline was plagued by labor problems over the summer. United was lately down 6.3%.

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Sector Watch

Internet stocks were in the hole again, following a little rally yesterday on some positive comments from

J.P. Morgan



(EBAY) - Get Report




were falling 2.4% and 1.1%.

Despite a drop-off in crude oil prices, energy stocks were faring well today. Crude-oil prices tumbled $1.12 to $30.33 a barrel after Saudi Arabia said the country is prepared to supply the world with as much oil as necessary to help deflate price pressure. The

American Stock Exchange Oil & Gas Index

was off 1.0%.

As investors scrambled to draw their money out of tech, other defensive stocks continued to show strength as well, with the

Amex Tobacco Index

up 1.0%, the

Dow Jones Utility Average

3.4% higher and the

American Stock Exchange Pharmaceutical Index

0.9% higher.

Financials were also rising, with the

American Stock Exchange Broker/Dealer Index

up 1.8% and the

S&P Insurance Index

1.5% higher.

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The benchmark 10-year Treasury note was lately 6/32 higher at 99 20/32, and yielding 5.799%.

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