Compaq Message Board - Msg: 16981370

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Compaq

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: PCSS who wrote (94977)	1/29/2002 11:46:40 PM
From: Elwood P. Dowd	of 97611

Merged HP, Compaq would aim for PC profit in 2003 SAN FRANCISCO, Jan 29 (Reuters) - The personal computer business of a merged Hewlett-Packard Co.(NYSE:HWP - news) and Compaq Computer Corp.(NYSE:CPQ - news) would be profitable next year, Compaq's chief executive, Michael Capellas told key analysts on Tuesday. Capellas made the forecast in a meeting with Institutional Shareholder Services, a company which advises fund managers how to vote in proxy battles and whose support would sharply raise the chances for the $22.4 billion deal to be approved. Compaq filed a copy of Capellas's slide presentation with regulators. Hewlett-Packard Chief Executive Carly Fiorina met with the firm, known as ISS, on Jan. 24. The potential merger partners say that combining their personal computer operations -- making the largest global PC producer -- would give them scale to cut costs and improve profitability. Both companies are losing money in their respective units at present. HP has not set a target date for profit, while Compaq expects to make money by the third quarter of this year. One slide in Capellas's presentation said their merger would ``enable the combined PC business to achieve positive operating margins in 2003''.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next