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

To: The Duke of URL© who wrote (93748)	11/14/2001 10:52:00 AM
From: Elwood P. Dowd	Respond to of 97611

CRN: HP/Compaq Surge, boost Merger by: skeptically 11/14/01 10:49 am Msg: 261271 of 261271 crn.com HP, Compaq Shares Soar On HP Earnings, Giving Boost To Merger By Craig Zarley & Steve Burke, CRN Palo Alto, Calif. 10:27 AM EST Wed., Nov. 14, 2001 Shares of both Compaq and Hewlett-Packard soared after HP beat lowered earnings estimates for its fourth quarter, giving a much-needed boost to the two companies' floundering merger hopes. HP's stock was up nearly 15 percent in early trading to $23.24, a gain of $3.01 per share. Compaq's stock rose nearly 14 percent to $10.01 per share, a gain of $1.21. HP earned $361 million, or 19 cents per share, from continuing operations, down from $841 million, or 41 cents per share, in the same quarter last year. Analysts were expecting earnings of about 8 cents per share. Heirs to David Packard and William Hewlett last week said they would vote against the mergers, but the largest HP shareholder, the Packard Foundation, which holds about 10 percent of outstanding HP shares, has yet to weigh in on the deal. The CFO of the Packard Foundation, George Vera, said last week the foundation would decide whether to endorse the merger after the HP earnings announcement and SEC filings detailing merger plans. The SEC filings are expected by week's end. The Packard Foundation has a board meeting scheduled for Dec. 7, but Vera said he was not sure if the board would decide its position on the merger prior to that meeting. HP's Chairman and CEO, Carly Fiorina, said in the early morning earnings call with analysts that the Packard Foundation is engaged in "quite a deliberate process that has been going on for some time," and which will include the examination of the SEC filings. Fiorina said HP is interacting with the Packard Foundation as it is with other investors and continues to meet with them as they evaluate the merger. "The Packard Foundation ought to speak for itself, but they will probably not make a decision until December or January," Fiorina said. In a bizarre series of events, HP held its earnings call at 8 a.m. EST Wednesday after first scheduling it for after the market close on Thursday. Late Tuesday afternoon, HP said it had rescheduled that call for after the market close on Wednesday to avoid conflict with Dell's earnings call. That time was later changed to early morning Wednesday. The press and analysts were informed of the change in an e-mail at about 10 p.m. EST on Tuesday.

To: The Duke of URL© who wrote (93748)	11/14/2001 11:20:06 AM
From: Elwood P. Dowd	Read Replies (1) \| Respond to of 97611

briefing.com upgrade(CSFB) by: skeptically 11/14/01 11:06 am Msg: 261277 of 261279 finance.yahoo.com 10:12AM Compaq (CPQ) 9.95 +1.15 (+13%): -- Update -- CSFB upgrades to BUY from Hold. 10:19AM PC Industry : Merrill Lynch's Joe Osha notes that October's Taiwan chip production data confirms that the PC build continues to be strong, with no sign of deceleration so far in November. However, visibility continues to be poor and strength was confined to PC and consumer electronics, with no evidence of a pickup in comm IC order activity.