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Technology Stocks : Compaq
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To: Joseph Francis Torti who wrote (24842)4/23/1998 4:37:00 PM
From: William Hunt  Read Replies (2) of 97611
 
THREAD --- Evidently the market did not think much of CPQ buyback of 100 million shares ---tendency to believed this is still a management credibility issue whether the market has an up day or not ---a company that offers to buy 6.6% of shares and the stock does move means there is still a lot of non believers .
Perhaps the best thing that happen to CPQ today was DEC / INTEL settling their legal dispute . This is really big news:
1) DEC receives 700 million in cash this qtr from INTEL
2) DEC receives from INTEL 600-700 million in chip rebates from INTEL over the next five years
3) DEC will transfer 2900 employees to INTEL when they take over ownership this qtr ---no write off charge for shutting down the plant or the cost of laying off employees
4)DEC will get rid of a major cash drain to earnings and turn the plant ( HUDSON ) over to INTEL who knows how to run a chip plant at a reasonable cost with high quality

YES THIS IS BIG NEWS FOR CPQ

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