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Gateway Hits Low as Estimates Are Cut

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was down 5.5% in early trading after striking a 52-week low of $28.33.

Merrill Lynch

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lowered its fourth-quarter sales estimates for the PC maker to 24% growth from 28% but kept its 63 cent earnings-per-share estimate.

Merrill also said the company may issue a cautionary statement at a competitor's technology conference Thursday.