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Computer maker Dell shares fell 13 percent Friday, as both earnings and margins fell short of Wall Street estimates.
Stocks opened lower Friday after weak results from Dell and a jump in oil prices.
Stock index futures indicated a lower open on Friday, with weakness in the tech sector, but trading will likely be volatile with thin volume ahead of the long weekend.
Ding, dong Dell. The computer marker's after hours earnings miss could put a dent in tech in Friday's quiet, pre-holiday session.
The Dow rose sharply on Thursday after the government reported the economy grew at a surprisingly robust clip in the second quarter and oil prices eased.
Dell reported a profit that fell well short of consensus expectations, punishing the company's shares in late trading.
Stocks advanced Thursday after second-quarter GDP was revised to show growth was more robust than first thought and oil receded to around $116 a barrel after earlier topping $120.
The markets have staged an impressive two-day rally on stronger GDP and durable goods; lower oil, natural gas; stronger financials. But the disappointing showing from Dell is a reminder that the global economic slowdown is not going away. If you are not confused, you're not paying attention.
Computer maker Dell is scheduled to report its fiscal second-quarter results after the market closes Thursday. The following is a summary of key developments and analyst opinion about the period.
Stocks advanced Thursday after second-quarter GDP was revised to show growth was more robust than first thought and oil receded to around $118 a barrel after earlier topping $120.
Software companies pay hundreds of millions of dollars to PC makers like Hewlett-Packard to install their photo tools, financial programs and other products, usually with some tie-in to a paid service or upgrade. With margins growing thinner than most laptops, this critical revenue can make the difference between profit and loss for the computer makers, says the New York Times
Stocks opened higher Thursday after the second reading on second-quarter GDP showed growth was more robust than first thought. Tropical Storm Gustav, which is readying to move back to hurricane status and heading toward the Gulf Coast, continued to hover over the market and bump up oil prices.
Thursday's markets will be quiet, but there are a few important undercurrents investors are watching.
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