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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Captain Jack who wrote (70382)	10/27/1999 6:30:00 PM
From: Elwood P. Dowd	Read Replies (1) \| Respond to of 97611

Home - Yahoo! - Help RESEARCH ALERT-Robertson cuts H-P estimates SAN FRANCISCO, Oct. 27 (Reuters) - Robertson Stephens analyst Dan Niles said he cut his earnings estimates on Hewlett-Packard Co., citing major issues in the company's UNIX workstation business and sluggish corporate PC demand. -- Niles cut H-P's fourth quarter estimates to 73 cents a share, versus 82 cents previously. He also estimates that revenue growth in the fourth quarter, ending October, will be closer to seven percent year-over-year, instead of the 10 percent growth the company is forecasting. -- Niles cut H-P's fiscal 2000 estimates to $3.20 a share from $3.30 previously, citing a possible slowdown in spending due to Y2K concerns by corporate customers. -- ''We believe UNIX is having major issues in the quarter,'' Niles said, adding that the company is still having sales force problems and some Y2K issues are starting to develop. -- He also forecast that H-P's PC business, which grew 28 percent in the July quarter, will likely grow in the mid- single digits in the October quarter, around five percent. -- ''Consumer demand is great, but corporate desktop demand is horrible,'' Niles said. ''My suspicion is that it's Y2K related. We believe Q1 will also be challenging.'' -- H-P shares were off 5-1/2 to 71-1/8.