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Technology Stocks : Hewlett-Packard (HPQ) -- Ignore unavailable to you. Want to Upgrade?

To: Peter J. Wilkin who wrote (16)	5/6/2002 11:01:18 AM
From: Lynn	Read Replies (1) \| Respond to of 4345

Hewlett-Packard Shares Up After Merger NEW YORK (Reuters) - Shares in Hewlett-Packard Co. (NYSE:HPQ - news), trading on the New York Stock Exchange under the new stock symbol HPQ, rose on Monday in the first day of trading for HP since buying Houston-Texas based Compaq Computer Corp. HP shares gained 2.12 percent, or 37 cents, to $17.81 in morning New York Stock Exchange trading. HP, which used to trade under the symbol HWP, won after a long proxy battle that ended last week with a failed lawsuit filed by dissident shareholder Walter Hewlett. Compaq's symbol was CPQ before it was delisted in association with being purchased. After a long, heated proxy battle in which HP won a shareholder vote by only a few percentage points, HP's $18.7 billion purchase of Compaq has been met with mixed reaction on Wall Street. Analysts said they would reserve judgement on whether HP would be a new and improved company in its latest incarnation. Bear Stearns analyst Andrew Neff said in a research note on Monday that it would maintain its neutral rating on the company citing concerns that HP's sense of urgency during the proxy battle might not continue now that the deal has been done. He also said that the computer market at large remains tough. That includes weak corporate demand for new technology and the potential for more price cuts in personal computers. That comes on the back of Sanford C. Berstein analyst Toni Sacconaghi having raised his rating on the company to an "outperform" from a "market-perform" late last week as it became clear the deal was about to close, citing valuation. HP will officially launch the new company in a press conference on Tuesday. biz.yahoo.com