Technology Select Sector SPDR Fund (XLK)

May 23, 2012 8:08 AM EDT Send to a Friend
Technology stocks, represented by tech ETF (NYSE: XLK), may come under pressure today, as shares of computer manufacturer Dell Inc (NASDAQ: DELL) took a beating overnight. The price of the stock is down 13 percent after the company missed estimates when it reported earnings and provided lackluster guidance after the close yesterday.

Revenue was $14.42 billion, down 4 percent from $15.02 billion in the same period last year. Non-GAAP net income dropped from $1.05 billion to $761 million, or 43 cents per share. The Street was looking for revenue of $14.91 billion and EPS of 46 cents.

In other tech news, Hewlett-Packard (NYSE: HPQ) will be reporting earnings after the bell today.

For a complete list of technology companies reporting earnings this week, visit EPS Insider at Streetinsider.com.


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