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Wall Street Beat: Tech stocks in doldrums

Marc Ferranti | Nov. 19, 2012
Though U.S. political leaders managed to spark some good news for the economy Friday, technology stocks are down for the week, showing a continued lack of confidence in the sector.

Chairman and CEO John Chambers said the company has succeeded in efforts to cut costs and that while European sales were still weak the company's business in the U.S. was strong during the quarter.

In the coming weeks, all eyes will be on political leaders in the U.S. as they struggle to compromise on a budget deal. Reports of strong holiday sales for PCs would also help IT.

 

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