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Technology Stocks : Compaq
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To: hlpinout who wrote (59302)4/22/1999 7:16:00 AM
From: rupert1  Read Replies (3) of 97611
 
Hi hio: CPQ appears to be firming in Europe this morning. We will see what the shareholders meeting will do. Is there a webcast? I had expected a $2 pop as the accumulated effect of yesterday and today. Of course I had assumed that we would have received more clarification from Rosen that we did.

COMPAQ is not a sick company with cash problems, structural problems or market share problems or product problems. It made sales of $9.4 billion in the last three months, profits of $258 million, maintained its No. 1 position in PC's increased its market share in several categories, developed almost a new $1.6 billion dollar service business, and slightly reduced inventory levels. It has massive assets still in the early stage of being leveraged. It has AV. It has an international franchise.

Several commentators/posters have compared it to certain "turnaround" situations in other companies which have taken 9-18 months to bear fruit. COMPAQ does not need a turnaround. It needs a faster driver. Rosen and his crew will keep the engine revving and the new man will have to jump into the driving seat while it is moving. I suspect the new CEO will be appointed within 6 weeks.

I was glad that EP spoke out on CNN yesterday: there are two sides to every story. I find his words encouraging. He thinks that some of the benefits of the strategy will show up in this quarter.
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