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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (58512)	1/8/2002 3:22:16 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Compaq Computes Profit Stocks Dip on Profit-Taking The Associated Press abcnews.go.com N E W Y O R K, Jan. 7 — A stronger-than-expected forecast from Compaq Computer failed to incite buying on Wall Street today as investors, playing it cautious, decided to collect some of their profits from last week's rally. Check Your Portfolio \| Stock Quotes The market drifted lower in quiet selling that analysts said wasn't surprising given stocks' recent gains. Although investors are becoming more confident that business is improving, they are still concerned about the near future and questioning whether stock prices are rising too quickly. "This is just a little consolidation after two vigorous days last Thursday and Friday on the market," said Ralph Acampora, director of technical research at Prudential Securities. "This is a pause that refreshes, nothing more." Compaq rose 29 cents to $11.68 after issuing a statement that its fourth quarter would be profitable and the results would exceed existing estimates. Analysts had predicted a loss for the computer maker, but because investors didn't view Compaq as a high-tech bellwether, the news failed to spark a rally. "Anything that this particular company says is probably not easily going to be extrapolated toward the rest of the tech sector," said Charles G. Crane, strategist for Victory SBSF Capital Management. "This particular stock doesn't have a halo effect on the rest of the market." Other tech issues were mixed. Microsoft fell 34 cents to $68.56, while Gateway advanced 43 cents to $10.25. In the broader market, General Electric fell $1.59 to $39.36, while Boeing climbed 64 cents to $41.