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Technology Stocks : Hewlett-Packard (HPQ)

HPQ 22.29

-2.7%

Dec 31 3:59 PM EST

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To: PCSS who wrote (2503)	1/31/2003 2:24:49 PM
From: The Duke of URL©	Read Replies (2) of 4345

"NEW YORK (Dow Jones)--Hewlett-Packard Co. (HPQ) shares fell 6% after an influential analyst lowered his projections for the company's second-quarter results. Lehman Brothers analyst Daniel Niles wrote in a Friday research note that H-P's sales declined more than he expected in January, particularly in the U.S. The steeper-than-expected decline didn't affect H-P's ability to meet expectations for the first quarter ending Friday, but will hurt the company's performance for the second quarter ending April 30, he said. Niles expects second-quarter revenue to decline 5% from the first quarter, compared with the 4% slide he had previously anticipated. He took his earnings estimate down to 26 cents a share from 27 cents for the second quarter. For the quarter ending Friday, he left his earnings estimate of 27 cents a share unchanged. Recently, H-P shares were down $1.08, or 5.9%, at $17.12. Volume was 17.6 million, compared with the daily average of 13.3 million. "

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