Dell Computer

(DELL) - Get Report

fell 6.9% in early trading after striking a new low of $25.50. The company said that weak demand in Europe was depressing third-quarter sales, although earnings for the period are still on track.

Fourth-quarter results, however, could be 1 to 2 cents below company estimates.

Bear Stearns

and

Lehman Brothers

lowered earnings estimates for the company while

Sanford C. Bernstein

maintained its market perform rating. Other PC stocks were lower.

Gateway

(GTW)

was down 4% and the

Box Maker Index

(BMX)

was off 1.9%.