Reuters: Technology News: Lenovo shares hit over 4-month low on concern over PC outlook

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Lenovo shares hit over 4-month low on concern over PC outlook Jun 25th 2012, 07:03 HONG KONG | Mon Jun 25, 2012 3:03am EDT HONG KONG (Reuters) - Shares of Lenovo Group Ltd, the world's No.2 PC maker, fell by more than 6 percent to a more than four-month intraday low on market concern over the outlook for the PC market amid the global economic slowdown. Lenovo's shares fell as much as 6.3 percent to HK$6.26 in afternoon trade, extending earlier losses and hitting the lowest intraday level since February 9. "The huge increase in volume suggests that a major holder is now exiting the stock," said a trader who declined to be identified because he was not authorized to speak to the media. An analyst said Lenovo's stock had outperformed peers such as market leader Hewlett-Packard Co and No.3 PC vendor Dell Inc this year, but worries over Europe's economy and a further slowdown in China might dampen PC demand and could affect the Chinese company. Lenovo shares are still up 22 percent so far this year, outperforming the main Hang Seng Index's 2.9 percent gain, Dell's 16.7 percent fall and HP's 20.1 percent loss.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions