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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Fred Fahmy who wrote (53258)	4/15/1998 7:27:00 AM
From: Mark A. Palma	Respond to of 186894

COMPAQ REPORTS INLINE WITH EXPECTATIONS. REDUCES INVENTORIES!!!!! Wednesday April 15, 7:00 am Eastern Time Company Press Release Compaq Reports First Quarter Earnings HOUSTON--(BUSINESS WIRE)--April 15, 1998--Compaq Computer Corporation (NYSE:CPQ - news) today announced worldwide sales of $5.7 billion for the first quarter ended March 31, 1998, an increase of eight percent compared to the first quarter of 1997. Net income for the quarter was $16 million or $.01 per share. ''As we indicated in early March, sales from our North American commercial channels were not meeting our expectations. At that time, we said we would immediately reduce prices and aggressively promote commercial products in North America in order to reduce channel inventories and accelerate the implementation of our Optimized Distribution Model (ODM), and that is exactly what we are doing. As a result, we are seeing an acceleration of sales out of the channel,'' said Eckhard Pfeiffer, Compaq's President and Chief Executive Officer. ''It will take another quarter of adjustment to put the Company's core business on a track of improved profitability,'' said Earl Mason, Senior Vice President and Chief Financial Officer. ''Our asset management progress continues. For example, End of Period Inventory Turns was 15 which is an improvement of 4 turns from the first quarter of 1997. In fact, inventory decreased $314 million from the fourth quarter of 1997. This coupled with improvements in receivables and payables increased our cash balance to $7.1 billion, an increase of 43 percent over the $5.0 billion reported a year ago.''

To: Fred Fahmy who wrote (53258)	4/15/1998 8:44:00 AM
From: Ibexx	Respond to of 186894

Fred and thread, ______ Wednesday April 15, 6:46 am Eastern Time U.S. stocks in London buoyed by Intel LONDON, April 15 (Reuters) - U.S. stocks in London gained on Wednesday after semiconductor giant Intel Corp reported quarterly earnings overnight that contained no negative surprises, dealers said. Intel shares were indicated $2-3/8 higher at $78 in London after Intel said that its first-quarter earnings per share were $0.72 with a charge against $1.20 for the same period in 1997. The statements were made after the market had closed. Earnings were $0.81 a share without the charge. A consensus estimate of analysts had put Intel earnings at $0.72. ''These figures have provided the lift this morning,'' said a dealer. By 1015 GMT, the June S&P future was trading at nearly four points above its estimated fair value of around 1,123, which pointed to a 20 to 30 points higher opening by the Dow. Dealers said the market would be encouraged by Intel comments that it expected revenues in the third quarter of 1998 to be higher than those in the second quarter. Elsewhere, shares were lightly traded as investors braced themselves for another batch of first quarter earnings. Blue chips scheduled to report results include Coca-Cola (KO - news), Apple Computer Inc (AAPL - news), Compaq Computer Corp (CPQ - news) and BankAmerica Corp (BAC - news). Economic figures due include February business inventories at 1230 GMT, which are forecast to rise 0.5 percent from the previous month. ________ Ibexx