Intel, HP, Kraft: Dow Midday Movers

NEW YORK (TheStreet) -- U.S. stocks were lower midday Wednesday as the market digested weak Chinese and European manufacturing data and strong U.S. housing information.

The Dow Jones Industrial Average fell 37.61 points to 12,928.08. Leading the Dow lower were Intel(INTC) , HP(HPQ) and Kraft Foods(KFT) .

Both Intel and HP were down following technology rival Dell's(DELL) fourth-quarter earnings miss on Tuesday. Dell reported earnings of 51 cents a share on revenue of $16.01 billion; analysts were expecting profit of 52 cents a share on revenue of $15.96 billion.

Shares of Intel fell 2.26% to $26.55. TheStreet Ratings gives Intel an A+ grade with a buy rating and a $32.22 price target.

HP shares dropped 1.33% to $28.96. The technology company gets a C grade from the TheStreet Ratings and a hold rating. HP reports earnings after the closing bell Wednesday,

Shares of Kraft fell 1.58% to $37.96. The company reported Tuesday fourth-quarter adjusted earnings of 57 cents a share on revenue of $14.7 billion. Analysts, on average, expected a profit of 57 cents a share on revenue of $14.79 billion.

The biggest gainer in the index midday was Caterpillar(CAT) . Shares rose 85 cents to $115.85.

-- Written by Alexandra Zendrian

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