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Technology Stocks : Compaq
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To: Elwood P. Dowd who wrote (25346)5/2/1998 12:39:00 PM
From: NickSE  Read Replies (2) of 97611
 
Could it be possible that someone at Compaq might have leaked some info to Gardner? If you read the upgrade it sure sounds like it. IMO, this is a very positive sign.

RESEARCH ALERT - Compaq

-- Analyst Richard Gardner said channel inventories were coming down and he has heard inventories are in the seven to nine week range in the U.S. corporate channel.

-- Inventories coming down because there was more price elasticity than Gardner originally estimated in the market place and Compaq's price cut promotions on sales out of the channel, he said.

-- Gardner said Compaq cut back on its bill plan this quarter and is shipping less into the channel so products there can sell through.

-- Said Compaq is committed to getting inventories down by the end of the June quarter and there is a good chance inventories could come down to four to five weeks.

-- A proxy was imminent for Compaq's acquisition of Digital Equipment Corp. and Gardner said there is a 99 percent chance the deal will close by the end of June.

-- Digital could add $0.35 to $0.50 per share to Compaq's fiscal 1999 earnings, now estimated at $1.51 per share.

-- Compaq suffered immensely from a huge decline in average selling prices but Gardner thinks price declines could moderate and comparisons will get easier in the second half of 1998

Regards,
Caisson
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