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

To: John Biddle who wrote (14509)	1/21/1998 10:50:00 PM
From: leebo	Read Replies (1) \| Respond to of 97611

RESEARCH ALERT - Compaq cut to hold LOS ANGELES, Jan. 21 (Reuters) - Hambrecht & Quist cut its rating on shares of Compaq Computer Corp to hold from buy based on its belief the stock will perform in line with the overall market over the near term. -- cut Q1 1998 earnings estimate to $0.34 a share on $6.2 billion in sales from $0.37 on $6.8 billion in sales, and full year 1998 to $1.65 a share on sales of $29.6 billion from $1.70 on sales of $30.5 billion. -- said ''we do not believe there are any catalysts to help drive near term share price appreciation'' despite Compaq's leadership position in the computer industry. -- cited several industry concerns for 1998 including the continued negative impact from foreign currency, aggressive PC pricing in the corporate marketplace, heightened competition and futher slowing in the Asia Pacific region. -- also sited high channel inventories for Compaq in the U.S. -- cited several positives for the company including continued market share gains and strengthening in Europe. -- Compaq shares were up 1-15/16 at 31-15/16 near the end of trading on Wednesday. More Quotes and News: Compaq Computer Corp (NYSE:CPQ - news) Related News Categories: US Market News, computer hardware, computers