Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Elwood P. Dowd who wrote (95060)	2/4/2002 11:25:58 AM
From: Elwood P. Dowd	Respond to of 97611

Monday February 4 11:18 AM ET H-P CEO Sees Recovery in Second-Half 2002 NEW YORK (Reuters) - Hewlett-Packard Co. (NYSE:HWP - news) Chief Executive Carly Fiorina on Monday said that the computer and printer maker is planning on an economic recovery in the second half of 2002 and that she sees the merger with competitor Compaq Computer being approved. Fiorina, speaking at the Goldman Sachs Technology Investment Symposium in La Quinta, California, said that HP has been planning for a second-half recovery and that it believes that is still a prudent planning assumption, adding that the company has assumed the recovery will be mooted at first. Fiorina said she sees corporate information technology budgets rising 2 percent to 3 percent in 2002 and 8 percent to 10 percent in 2003. Fiorina used the forum to try to convince investors that the company's planned merger with competitor Compaq Computer Corp. (NYSE:CPQ - news) is a smart strategic move. That merger, which the Hewlett and Packard families oppose, is expected to go to a shareholder vote in March and Fiorina expects it to pass. ``The level of (institutional investor) support is growing,'' Fiorina said. ``And it is in our judgement more than sufficient to win a positive shareholder vote.''