Stocks were mostly lower early on with
Nasdaq Composite Index
down as the index gives up some of the ground it gained yesterday.
Negative comments about Dell's revenue picture from
Salomon Smith Barney
BancBoston Robertson Stephens
sent shares of Dell sharply lower. It was down 6 7/8, or 7%, to 95.
The Nasdaq Comp was down 29 to 2376.
Dow Jones Industrial Average
was up 25 to 9388. The
was down 3 to 1251. The
was down 2 to 404.
TheStreet.com Internet Sector
was down 9 to 496.
TheStreet.com E-Commerce Index
was down 3 to 102.
The 30-year Treasury bond was down 1 4/32 to 98 14/32, yielding 5.37%.
Most Up at Open -- NYSE
Most Up at Open -- Nasdaq
United Pan Europe undefined, up from its offering price of $32.78 to 43
priced the 40 million-share IPO at $32.78.
Most Down at Open -- NYSE
Most Down at Open -- Nasdaq
: BancBoston Robertson Stephens said in a note: "We believe Dell's finish to the quarter was soft, leading to revenues of $5.2 billion relative to our $5.5 billion expectation. During Q4, we believe that the competitive pressure intensified, especially in the corporate market." The firm set a near-term price target on Dell of $80 a share.