CPQ spokesman said ML report was generally consistent with trends the company saw in Jan.
NEW YORK, March 3 (Reuters) - Compaq Computer Corp. told a
Merrill Lynch Technology conference the pricing environment was
somewhat tougher in January, and Merrill said it lowered its
near-term rating on the stock to accumulate from buy.
Earl Mason, Compaq's chief financial officer, gave an
update Monday on first quarter business in January, saying the
pricing environment in North America was slightly tougher than
originally thought, Merrill analyst Lucy Painter said.
The company did not give any change in earnings guidance
for the quarter, but Painter lowered her December 1998 earnings
estimate to $1.80 per share from $1.85 per share.
A Compaq spokesman said on Tuesday the Merrill report was
generally consistent with trends the company saw in January.
Painter maintained her long-term buy rating on Compaq.
"North America's sell-through is quite strong, although the
company noted that the pricing environment is a little tougher
than originally thought," she said in a research note.
Mason also told analysts Japan and Asia remained weak in
January, as expected, Latin America was mixed, and that the
European business was strong and on target with an aggressive
plan, she said. |
