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

To: Elwood P. Dowd who wrote (92323)	7/25/2001 5:00:06 PM
From: Elwood P. Dowd	Read Replies (1) \| Respond to of 97611

AFTER HOURS Compaq slides as lowers Q3 targets By Nicole Maestri, CBS.MarketWatch.com Last Update: 4:56 PM ET July 25, 2001 NEW YORK (CBS.MW) -- Techs felt a pinch in evening trading Wednesday as Compaq Computer matched expectations for its second quarter but said its third-quarter revenue would fall short of current expectations. Shares slid to $14.01 in third-market action after closing at $14.12. But there was positive news from Electronic Data Systems as it posted its ninth consecutive quarter of double-digit, per-share growth. Fiber optic giant Corning beat estimates with its second-quarter results; shares promptly rose to $14.06 in third-market action after closing at $13.77. Compaq Computer Compaq Computer effectively matched its pre-announced second-quarter results with a profit of $67 million, or 4 cents a share, and revenue of $8.5 billion. Analysts surveyed by First Call/Thomson Financial had expected a 4-cent a share profit, on average, with revenue at $8.8 billion. Last year, the Dallas-based PC giant (CPQ: news, chart, profile) reported a second-quarter profit of $387 million, or 22 cents a share. Revenue was down from last year's $10.13 billion level. For the third quarter, revenue will be in the range of $8 billion to $8.4 billion and earnings per share of 7 cents to 9 cents. Analysts currently expect revenue of $9.3 billion and earnings of 9 cents per share for the third quarter, according to First Call. See full story. Shares ended the day up 27 cents to $14.12.