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Computer makers decline after Dell warning

September 16, 2008
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NEW YORK—Shares of PC makers headed mostly lower Tuesday along with the broader market, after computer company Dell Inc. warned it is seeing weaker information technology demand around the world.

The broader market extended its losses as well, amid worries about insurer American International Group Inc. and ahead of the Federal Reserve's decision on interest rates.

Hewlett-Packard Co. was among the rare technology stocks heading higher. The company said on Monday it plans to cut 24,600 jobs over the next three years as it integrates technology-services firm Electronic Data Systems Corp.

Hewlett-Packard shares rose 65 cents to $45.98.

Here is how other hardware companies fared Tuesday morning:

Apple Inc. fell $3.55, or 2.5 percent, to $136.80.

Dell tumbled $1.70, or 9.4 percent, to $16.29.

IBM Corp. fell 93 cents to $114.26.

Seagate Technology fell $1.50, or 11.4 percent, to $11.67.

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