Gateway Slides 2.7% on Downgrade
Gateway
(GTW)
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.
TheStreet Recommends
Dell
(DELL) - Get Report
was down 1.9%, and
Compaq
(CPQ)
was slipping 1.5%.
