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Market Update Analysis: 
Dell Disappoints
Author: Elena Todorova
123jump.com
Last Update: 9:09 AM EST November 01 2005


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Asian markets closed mostly higher, led by Kospi, up 2.7%, followed by the Nikkei, up 1.9%. European stocks consolidated at mid-day on weaker automakers and oil stocks, as well as warning from Dell. The computer giant released lowered preliminary Q3 earnings outlook and revenue far below projections, citing sales decrease. Procter&Gamble and Colgate-Palmolive Co released third-quarter profit rise, beating and in line with estimates respectively.

 
Valero LP(VLI: chart), crude oil operator, reported record Q3 net income of 88 cents a unit, up from net income of 78 cents a unit earned a year earlier, beating analysts’ forecasts of 80 cents a unit. Q3 included 9 cents a unit for discontinued operations.
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