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Technology Stocks : Compaq
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To: Captain Jack who wrote (59769)4/23/1999 10:20:00 PM
From: Elwood P. Dowd  Read Replies (2) of 97611
 
Compaq boss tries to reassure market
Spooked investors reluctant to buy shares,
despite strong tech rally

Toronto -- Compaq Computer Corp.
chairman Ben Rosen is working to
reassure the market that he is charting a
new course for the beleaguered computer
company.

But spooked investors are still reluctant to
buy Compaq shares, despite watching the
stock slide to half of its value since
reaching a record $49.25 (U.S.) in
January.

Compaq shares were almost unchanged in
this week's three-day tech rally. Yesterday
they closed at $23.68.

Frederic Dickson, an analyst with Branch
Cabell & Co., said yesterday he could not
think of another technology stock he owns
that hasn't gained in recent days.

"[Compaq] stock has done nothing in a
very strong tech rally," Mr. Dickson said.
"I think it's a wait-and-see attitude among
investors."

The market is waiting to see whether Mr.
Rosen can achieve what he has vowed to
do: Appoint a successful new chief
executive officer, return the
Houston-based company to the stellar
profits of the past and rebuild strained
relations with Wall Street.

Posted: 04/23/99, 9:59PM EDT as a reply to: Msg 1 by YahooFinance
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