Hewlett-Packard (HPQ) Message Board

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Technology Stocks : Hewlett-Packard (HPQ)

HPQ 22.38

+0.4%

11:13 AM EST

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To: PCSS who wrote (485)	5/20/2002 1:32:30 PM
From: Elwood P. Dowd	of 4345

The following is an almost word-for-word rehash of the what an ML honcho was preaching on the Rukheyser(sp)CNBC show Friday night. El 9:55AM Merrill Lynch reiterates selling tech into strength : Merrill Lynch in a pre-open note said that "mainstream" technology is not a growth sector anymore, and reiterates long-standing strategy of selling tech shares into strength given NASDAQ's recent rally; fragmentation, overcapacity, margin pressures, and pro forma reporting continue to plague the industry; however, the Pentagon may be the next "Killer App". Recommends redeploying assets into attractive themes such as: dividend-paying utilities, consumer staples, aerospace/defense, drugs, energy, and corporate-oriented financial stocks

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