Afternoon Market Update (DELL, WMT, AMZN, RIMM)

Shares of Dell Inc (NASDAQ: DELL) moved up about 0.4% after analyst Brian Marshall of Gleacher & Co resumed coverage of the company with a “neutral” rating. The target price for the company is set at $12.

Walmart Stores Inc (NYSE: WMT) has offered more than $4 billion to purchase Massmart Holdings Ltd in order to enter into the African market. Doug McMillon, president and chief executive officer of Walmart International, said, “We are continuing to deploy our strategy to accelerate growth and improve returns in our international business, and this region of the world fits with our focus on large, high-growth markets.”

US Technology stocks moved down, with Amazon.com (NASDAQ: AMZN) and Research In Motion (NASDAQ: RIMM) as the top decliners in the list. The Nasdaq Composite Index lost about 0.5%, while the Morgan Stanley High Tech 35 Index fell about 0.65%. The Philadelphia Semiconductor Index moved down about 0.46%.

Read more from Benzinga's Markets.