rudedog and thread, some NICE stuff from the Zoo:
CPQ Thanksgiving Sales
were Strong
by: jimcpim
12/1/00 1:25 pm
Msg: 199720 of
199729
!=DJ Compaq CEO -2: Says 4Q Inventory Positions Are
'Fine'
Dow Jones News Service via DowVision
December 1, 2000
By Anne Brady
Of DOW JONES NEWSWIRES
SCOTTSDALE, Ariz. (Dow Jones)--When Compaq
Computer Corp. (CPQ) Chief Executive Michael Capellas
showed up Thursday night for dinner and a Sheryl Crow
concert at the Credit Suisse First Boston Technology
Conference here, he expected the mood to be a bit somber,
given the recent declines in the stock market.
Instead, he said, he was surprised to find people very warm
and friendly.
"Everyone wanted to know how my Thanksgiving was," he
quipped Friday morning, speaking at the investment
conference at the Phoenician resort.
Late Wednesday, Gateway Inc. (GTW) cited poor sales
over the Thanksgiving weekend when it revised downward its
earnings guidance for the fourth quarter and for 2001.
Gateway executives said the slowdown was not
company-specific, but Capellas said Friday that Compaq
sales over the winter holidays' top shopping period were
strong.
"We did see pretty robust sales over Thanksgiving," said
Capellas. "So for all those people who ask, 'How was your
Thanksgiving?', it was just fine, thank you.
"Looking at the fourth quarter, our inventory positions are
fine. So far, demand is on target. There is no change in
guidance from us. We're on target for what we said we were
going to do."
Compaq shares have fallen recently along with other
technology stocks, as companies such as Intel Corp. (INTC),
Apple Computer Corp. (AAPL) and Gateway have lowered
earnings expectations. But Capellas expressed cautious
optimism for his company looking forward.
"The glass, I do believe, is half full," said Capellas. "Christmas
will indeed come."
Anne Brady, Dow Jones Newswires; 602-258-2003;
anne.brady@dowjones.com
(END) DOW JONES NEWS 12-01-00
11:56 AM
Copyright 2000 Dow Jones & Company, Inc. |
