DJIA Losers: IBM, Cisco, and Intel Display Tech Weakness
The Dow Jones Industrial Average (NYSEARCA:DIA) is down today 0.76% and stands at 12,375. These tech stocks are taking a hit today.
Cisco Systems (NASDAQ:CSCO): The entire tech sector is down today on JP Morgan’s bad news, with Cisco down slightly more than the Nasdaq. Cisco is counting on broadband adoption as the path to future growth. CSCO shares recently traded at $19.00, down $0.15, or 0.78%. They have traded in a 52-week range of $13.30 to $22.34. Volume today was 21,596,354 shares versus a 3-month average volume of 47,339,100 shares. The company’s trailing P/E is 16.41, while trailing earnings are $1.16 per share.
Don’t Miss: Apple iPad Flat Panel Shipments Jump 35%.
International Business Machines Corporation (NYSE:IBM): The weak FQ4 guidance attached to Infosys’ FQ3 report is affecting the shares of rival Wipro, and even those of IT services kingpin IBM. It should be noted that Buffett’s investment in IBM last year was the largest investment he had ever made, and it was the first significant technology investment that he ever made. IBM shares recently traded at $178.63, down $1.92, or 1.06%. They have traded in a 52-week range of $148.47 to $194.90. Volume today was 2,870,216 shares versus a 3-month average volume of 5,256,350 shares. The company’s trailing P/E is 14.08, while trailing earnings are $12.69 per share.
Intel Corporation (NASDAQ:INTC): People are encouraged by Intel’s recent deals with Motorola and Lenovo for its latest Medfield atom chips, as they prove Intel has some much-needed momentum in the smartphone and tablet markets. Most of them were impressed the performance of a prototype phone relying on Medfield, which faces tough competition from a slew of ARM-based processor lines. INTC shares recently traded at $25.24, down $0.51, or 1.98%. They have traded in a 52-week range of $19.16 to $25.92. Volume today was 40,168,324 shares versus a 3-month average volume of 55,627,600 shares. The company’s trailing P/E is 10.93, while trailing earnings are $2.31 per share.
Don’t Miss: Google Lets Bygones be Bygones in China.
To contact the reporter on this story: Scott Gillette at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com