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Technology shares slump after Intel warning

NEW YORK
Wed Nov 12, 2008 8:18pm EST

NEW YORK (Reuters) - Shares of large-cap technology companies fell after the bell on Wednesday following a warning from Intel Corp that its fourth-quarter revenue will be 14 percent below its previous forecast.

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Shares of Microsoft Corp were trading down 2 percent at $19.89, the lowest price since March 1998.

Cisco Systems Inc slipped 2.8 percent to $16.08, while QualComm Inc fell 2.2 percent to $31.84. Intel stock dropped 7 percent to $12.55.

(Reporting by Deepa Seetharaman; Editing by Leslie Adler)
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