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Stocks Mostly Lower After Thursday's Big Rally

A big drop in Dell is pushing the Nasdaq down.

Stocks were mostly lower early on with


(DELL) - Get Report

leading the

TST Recommends

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.

Elsewhere, the

Dow Jones Industrial Average

was up 25 to 9388. The

S&P 500

was down 3 to 1251. The

Russell 2000

was down 2 to 404. Internet Sector

was down 9 to 496. 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

Vodafone (VOD) - Get Report, up 2 to 181 1/2


Most Up at Open -- Nasdaq

United Pan Europe , up from its offering price of $32.78 to 43


Goldman Sachs

priced the 40 million-share IPO at $32.78.

Most Down at Open -- NYSE

IBM (IBM) - Get Report, down 3 to 176 1/4


Most Down at Open -- Nasdaq

Dell (DELL) - Get Report, down 7 3/8 to 94 1/2

: 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.