Gateway Slides 2.7% on Downgrade
Gateway
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was down 2.7% in midmorning after
Merrill Lynch
cut its intermediate-term rating to neutral from accumulate. Merrill said there is a high likelihood that the computer company will sharply lower its earnings forecast during its analysts meeting this week.
Other PC stocks were also lower.
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Dell
(DELL) - Get Dell Technologies Inc. Class C Report
was down 1.9%, and
Compaq
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was slipping 1.5%.
