Dell Downgraded By S&P

Standard & Poor's trimmed its rating on Dell (Nasdaq: DELL) as the computer maker ponders its next move in its battle with Hewlett-Packard (NYSE: HPQ) to acquire 3Par (NYSE: PAR).

S&P lowered Dell to "sell" from "hold." Analyst Tom Smith cut his fiscal 2010 EPS estimate for Dell to to $1.40 from $1.47 per share and lowered his target price for Dell shares to $11 from $15.