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Sector Snap: IT services stocks slide



By AP
29 September 2008 @ 03:21 pm EST

NEW YORK - Shares of information technology service providers declined Monday afternoon along with the broader market after the House defeated a $700 billion emergency rescue for the nation's financial system.

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Quotes
CVG 4.39 0.33
ACS 37.3 1.58
CSC 26 1.59
HRS 30.06 1.45

SYMBOL LOOKUP

Stocks plunged even before the 228-205 vote to reject the bill was announced on the House floor. The Dow Jones industrials extended declines falling as much as 705 points. The tech-heavy Nasdaq composite index fell 146.66, or 6.72 percent, to 2,036.68.

Convergys Corp. fell $1.04, or 6.7 percent, to $14.54, having traded between $11.77 and $19.18 in the past year.

Shares of Affiliated Computer Services Inc. fared better. The stock slid fell $1 to $51.19, having traded in the range of $39.46 and $57.40 in the past 52 weeks.

Shares of Computer Sciences Corp. fell $2.03, or 4.8 percent, to $40.18. In the past year, the stock has changed hands between $36.91 and $60.

Harris Corp.'s stock fell $2.78, or 5.8 percent, to $44.92. It has traded in the 52-week range of $42 and $66.94.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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