To: Paul Engel who wrote (98490 ) 2/8/2000 2:42:00 AM From: Paul Engel Read Replies (1) | Respond to of 186894
Intel Investors - "Under the agreement, H-P will be the preferred provider of Intel-based and Linux servers for Loudcloud, which designs website infrastructure. " Future Intel business, courtesy of Marc Andreesen & HP. Paul {===================================} Hewlett-Packard Surges Amid Sales Optimism By Reuters Feb 7, 2000 (3:56 PM) URL: techweb.com SAN FRANCISCO -- Shares of Hewlett-Packard, the world's second-largest computer company, rose to a record on Monday amid optimism the company will beat estimates when it reports quarterly earnings on Feb. 16. The stock rose 10 1/2 to 128 1/2 in trading on the New York Stock Exchange. Shares have more than doubled from a year-low of 63 3/8, and closed on Monday at a record high. "We have confirmed that [Hewlett-Packard's] business in Asia is very strong, while PCs and printers continue to show good results," wrote Salomon Smith Barney analyst JohnJones in a research note to clients. "Orders on Unix servers is expected to be encouraging." In light of that, Jones raised his earnings estimate for Hewlett-Packard's (HWP.N) fiscal first quarter by $0.04 to $0.79 cents a share. He also raised his revenue estimate for the quarter by 11 percent to $11.37 billion, from $11.17 billion. Jones reiterated his "buy" rating on the stock and his $115 price target, excluding the value of test and measurement equipment maker Agilent Technologies, in which it recently sold a stake. Including the 84-percent stake that Hewlett-Packard holds in Agilent (A.N), Jones also reiterated a price target of $147. In recent weeks, Palo Alto, Calif.-based Hewlett-Packard has announced a number of partnerships with other high-tech companies designed to boost sales. Last week, it partnered with rival Eastman Kodak to open stores that will develop copies of digital photographs. And on Monday, it said was joining with Loudcloud, a start-up formed last year by Netscape co-founder Marc Andreessen, to offer new Internet systems for businesses. Under the agreement, H-P will be the preferred provider of Intel-based and Linux servers for Loudcloud, which designs website infrastructure.