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Investor PM: EMC, Sun drag Nasdaq down 3 percent

Sun Microsystems and EMC led the Nasdaq down 3 percent Tuesday after a Goldman Sachs analyst said the companies are unlikely to meet growth targets. The Nasdaq shed 75.
Written by ZDNET Editors, Contributor on
Sun Microsystems and EMC led the Nasdaq down 3 percent Tuesday after a Goldman Sachs analyst said the companies are unlikely to meet growth targets. The Nasdaq shed 75.49, or 3.35 percent, to 2,175.54.

The Dow Jones industrial average was up 33.77 to 11,039.14.

Goldman Sachs analyst Laura Conigliaro lowered estimates for networking company Sun Microsystems and data-storage maker EMC, souring investors on the companies. Sun shares fell $1.80, or 9 percent, to $18.76. EMC shed $3.09, or 8 percent, to $34.01. Full story. Tiffany Kary, ZD Inter@ctive Investor

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