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

To: PCSS who wrote (649)	5/28/2002 10:25:51 PM
From: Elwood P. Dowd	Respond to of 4345

US PROFITABILITY REGAINING HEALTH 2Q by: hpq_rockingworld_again (M/Houston) Long-Term Sentiment: Strong Buy 05/28/02 07:36 pm Msg: 135508 of 135521 Second-quarter profits look up Preannouncements point to improvement in earnings; government report shows 1Q profit growth. May 28, 2002 NEW YORK (CNN/Money) - Company profits for the second quarter of 2002 are looking up, according to the latest numbers on earnings preannouncements. According to research firm First Call, the number of companies saying they expect to beat current analysts' second-quarter consensus earnings estimates is up more than 15 percent from the year-ago period. The percentage of companies saying they expect to report in line with expectations is also up. Of 678 companies preannouncing, 242 expect to beat expectations, compared with 118 companies a year ago.

To: PCSS who wrote (649)	5/28/2002 10:28:32 PM
From: Charles Tutt	Respond to of 4345

The curious thing about that article is that they note IBM "showed the strongest share gain" but don't say how much that was, while the share gains or losses of the other big players are quantified. With Dell and HP+CPQ unchanged, and Sun rising, IBM's share gain must have come at the expense of "other." JMHO. Charles Tutt (SM)

To: PCSS who wrote (649)	5/29/2002 4:06:07 PM
From: Elwood P. Dowd	Read Replies (1) \| Respond to of 4345

Dell CEO's bonus cut Michael Dell's base salary is increased but his bonus is slashed following revenue goal shortfall. May 29, 2002: 2:36 PM EDT NEW YORK (CNN/Money) - The top executive of Dell Computer Corp. got a pay raise in fiscal 2002, but his bonus was less than one fifth of what he received last year. Michael Dell, the company's chairman and CEO, received a bonus of $347,236, which amounted to roughly 37 percent of his salary, the company disclosed in a regulatory filing Wednesday. That compares with an annual bonus of $1.7 million in fiscal 2001, which was more than 180 percent of his salary last year. Dell's base salary in fiscal 2002 was increased to $925,962 from $892,308 in the prior year, the company said. In a document filed with the Securities and Exchange Commission, the company said Dell's actual bonus for fiscal 2002 was about 25 percent of his target bonus for the year, attributing the less-than-stellar payoff to missed revenue targets. Michael Dell, chairman and CEO of Dell Computer, received about one-fifth the bonus he got last year after missing internal revenue targets. "Although the company performed very well against its peers in fiscal 2002, the company's revenue growth performance fell short of some aggressive internal goals established at the beginning of the year," the company said in the filing. Dell, who founded the company in the early 1980s, chose to receive his bonus as discounted stock options which vest over two years rather than as cash. At the end of fiscal 2002, which ended in February, Dell, who owns about 12 percent of the company's outstanding shares, held exercisable options worth $33 million and unexercisable options worth $89.6 million, the company said. Dell (DELL: down $0.18 to $26.67, Research, Estimates), which became the world's largest supplier of personal computers in 2001 but was eclipsed after Hewlett-Packard Co. (HPQ: down $0.01 to $18.69, Research, Estimates) and Compaq merged earlier this month, has been something of a standout in the tech sector over the past year. The company has been credited as the creator of the build-to-order sales model, under which customers custom order their computers directly from the company, which makes for more efficient supply-chain management and lower manufacturing costs. And Dell has leveraged that model to aggressively cut prices while at the same time remaining profitable and gaining market share. The company also has been aggressively cutting costs, including laying off roughly 5,700 employees last year. In Fiscal 2002, Dell's revenue fell slightly to $31.17 billion from $31.89 billion in the year-earlier period. During the same period, the company's earnings per share fell to 65 cents from 84 cents. Kevin Rollins, the company's president and chief operating officer, also took home a pay raise last year, drawing a salary of $721,154 compared with the $688,462 a year earlier. Meanwhile, Rollins' bonus for the year fell to 243,389 from $1.16 million in fiscal 2001, the company said in the filing. Rollins also chose to receive his bonus in the form of discounted stock options. Shares of Dell were down about 1.6 percent in afternoon Nasdaq trade Wednesday. Over the past year, the stock has ranged between a high of $30.52 reached in March and a low of $16.01 which it fell to last September. SPECIAL: Click here for a FREE trial issue of MONEY magazine!