Wall St slips on weak corporate results

By Rodrigo Campos

NEW YORK (Reuters) - Weaker-than-expected results from computer maker Dell and homebuilder D.R. Horton helped push stocks lower on Friday as Wall Street headed for its third straight day of losses.

After the benchmark S&P 500 index has jumped 20 percent so far this year, investors were reassessing the global economic outlook and saw few reasons to make big bets.

Dell Inc, the No. 3 personal computer maker, slid 9.8 percent to $14.32 a day after it reported a 54 percent drop in third-quarter profit and sales that missed estimates.

Investors have been watching the technology sector closely after a big run-up, with the S&P information technology sector soaring more than 70 percent from its March lows.

The technology sector has been expected to share better than others as the recovery takes hold. But on Thursday, tech shares were pummeled after an analyst made bearish comments on semiconductors.

"When you see (technology shares) rolling over, you know there's a problem. That's not a sign of a healthy market," said Quincy Krosby, market strategist at Prudential Financial in Shelton, Connecticut. She said tech and bank shares must be a part of a strong market rally.

"We're not writing the obituary for this market, but it is consolidating, getting far more careful. It is prudent to take some money and some risk off the table."

The Dow Jones industrial average lost 47.83 points, or 0.46 percent, to 10,284.61. The Standard & Poor's 500 Index fell 6.89 points, or 0.63 percent, to 1,088.01. The Nasdaq Composite Index dropped 18.21 points, or 0.84 percent, to 2,138.61.