Stocks are giving up some gains as all ten of the economic sectors dip.
Dell (DELL 12.80, +0.19) plans further cost-cutting measures, including
a hiring freeze and voluntary severance packages, The Wall Street
Journal reports.
The utilities sector underperforms with a gain of only 0.2%. Electric
utility PPL (PPL 28.57, -3.90) this morning reported
worse-than-expected third quarter earnings and issued downside fiscal
year 2008 and 2009 earnings guidance, citing cost pressures and higher
financing costs.