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To: Night Writer who wrote (86310)	10/31/2000 2:43:09 PM
From: tonyt	Respond to of 97611

Compaq Sticking With Europe Through Currency Turbulence, Chief Says By: Bob Keefe 10/31/00 10:45:00 AM Source: Cox News Service SAN DIEGO - Volatility in European currency markets will hurt Compaq Computer Corp. in the fourth quarter and will continue to be a concern through next year, but the world's biggest personal computer maker isn't changing the way it does business overseas, Compaq's chairman said Monday. ``The only good news about Europe is that we've been in the European market for a very long time,'' Compaq Chairman Michael Capellas said in an interview Monday. ``We do know how to follow trends. We do know how to play the currency game very well. But if you're an amateur in this market, you're going to get burned.'' Last week, Houston-based Compaq reported strong third-quarter earnings, but warned its fourth-quarter profits would miss analysts' estimates because of the weakness in the euro. About one-third of Compaq's sales are made in Europe. Domestically, the company ranks No. 2 behind Round Rock, Texas-based Dell Computer Corp., according to the latest figures from researcher Gartner Group Inc.'s Dataquest unit. Dell also recently warned that its third-quarter earnings will be below expectations, also in part because of weakened demand in Europe related to the decline of the euro. Europe's common currency rose Monday for the third day in a row, but has been in a tailspin since August in the wake of a softening economy overseas and a continued strong economy in the United States. Monday, the value of a euro closed at 84.28 U.S. cents, just slightly better than its all-time low of 82.30 cents last Thursday. While the decline has prompted some U.S. companies to re-evaluate their European operations, Capellas said doing so at Compaq would be short-sighted. ``We're not leaving Europe, we're not backing off, but there is certainly some volatility,'' said Capellas, who spoke at a technology conference north of San Diego on Monday. ``The companies that don't have volatility right now in their reporting must not have a presence in Europe, because it's its impossible not to have been caught in the volatility of the currency rate,'' he said. Monday, Compaq shares closed at $30.25, up 30 cents. (The Cox web site is at coxnews.com) c.2000 Cox News Service

To: Night Writer who wrote (86310)	10/31/2000 2:44:04 PM
From: Elwood P. Dowd	Read Replies (1) \| Respond to of 97611

Compaq Sticking With Europe Through Currency Turbulence, Chief Says By: Bob Keefe 10/31/00 10:45:00 AM Source: Cox News Service SAN DIEGO - Volatility in European currency markets will hurt Compaq Computer Corp. in the fourth quarter and will continue to be a concern through next year, but the world's biggest personal computer maker isn't changing the way it does business overseas, Compaq's chairman said Monday. ``The only good news about Europe is that we've been in the European market for a very long time,'' Compaq Chairman Michael Capellas said in an interview Monday. ``We do know how to follow trends. We do know how to play the currency game very well. But if you're an amateur in this market, you're going to get burned.'' Last week, Houston-based Compaq reported strong third-quarter earnings, but warned its fourth-quarter profits would miss analysts' estimates because of the weakness in the euro. About one-third of Compaq's sales are made in Europe. Domestically, the company ranks No. 2 behind Round Rock, Texas-based Dell Computer Corp., according to the latest figures from researcher Gartner Group Inc.'s Dataquest unit. Dell also recently warned that its third-quarter earnings will be below expectations, also in part because of weakened demand in Europe related to the decline of the euro. Europe's common currency rose Monday for the third day in a row, but has been in a tailspin since August in the wake of a softening economy overseas and a continued strong economy in the United States. Monday, the value of a euro closed at 84.28 U.S. cents, just slightly better than its all-time low of 82.30 cents last Thursday. While the decline has prompted some U.S. companies to re-evaluate their European operations, Capellas said doing so at Compaq would be short-sighted. ``We're not leaving Europe, we're not backing off, but there is certainly some volatility,'' said Capellas, who spoke at a technology conference north of San Diego on Monday. ``The companies that don't have volatility right now in their reporting must not have a presence in Europe, because it's its impossible not to have been caught in the volatility of the currency rate,'' he said. Monday, Compaq shares closed at $30.25, up 30 cents. (The Cox web site is at coxnews.com) c.2000 Cox News Service Email this story to a friend Click for printer-friendly format Related News Nortel Networks Completes - PR Newswire Compaq Announces Enhanced - PR Newswire Investor Dispatch: HTML edition Investor Dispatch News.com Dispatch All Newsletters More from CNET Investor: Market Update \| My Portfolio \| Broker Reports \| IPOs \| Splits \| Play the Game Click Here for Fidelity Investments(R) CNET Services: Stock Quotes • Tech Auctions • Tech News • Free Downloads • Search • Games • Latest PCs • Business Solutions • Hardware Buying Advice