The Dow Jones Industrial Average
Shares of the three tech giants were down sharply after Dell reported weak-sauce earnings that failed to match its own guidance. The poorest performance came from consumer notebooks as Apple
Each of the three is trying to address the changing landscape in its own way. HP announced today that sales fell 3% and earnings fell 30%. It also said that it'll go ahead with its plan to lay off 8% of its workforce, mainly through early retirement, to save $3 billion to $3.5 billion annually. Shares eventually soared 9% after hours.
Intel continues to branch out into the market for tablet chips, while Microsoft today released So.cl, its social network, to limited fanfare. Rumor has it the software giant plans to release a version of Microsoft Office for mobile devices.
Intel and Microsoft lost to the market today, but I'm not particularly worried about their long-term prospects given reasonable growth prospects and valuations.
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