From Dow Jones Newswires - RE: HWP PC sales may be soft...
September 30, 1998
REPEAT:Merrill Says
Hewlett-Packard's PC Sales
May Be 'Soft'
Dow Jones Newswires
No further information is available at this time.
NEW YORK (Dow Jones)--Merrill Lynch & Co.
issued a brief note Tuesday, speculating
Hewlett-Packard Co.'s (HWP) personal computer
sales may be "soft."
Analyst Steve Milunovich wrote that SCI Systems
Inc. (SCI), which generates about one-third of its
sales from H-P, announced Sept. 23 that it might
not make Wall Street revenue estimates for the
fiscal first quarter ending Sept. 30.
Further, he wrote, "demand for UNIX workstations
has been less than expected," attributing the
information to a "major supplier to H-P."
In the note, Milunovich wrote that "it might be early
to buy Hewlett-Packard" shares.
The analyst wasn't immediately available, and
H-P didn't have an immediate comment on the
report.
H-P shares were recently down 2 1/4, or 4.1% to
53 1/8.
Later, a Hewlett-Packard spokeswoman said that
SCI Systems is one of several manufacturers that
the company works with. She wouldn't cite the
exact number of manufacturing partners.
Hewlett-Packard is to report its earnings Nov. 16. |
