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

To: Lynn who wrote (43370)	1/12/1999 8:46:00 PM
From: LeeLyle	Read Replies (1) \| Respond to of 97611

The PIN numbers were part of a paragraph at the bottom of a long foldout one page sheet sent to stockholders to sign up to receive all financials and vote proxies online. I got mine and all my Compaq stock is held in three different brokerage accounts. Hope this helps you locate yours. You may have signed up for voting online then tossed it.

To: Lynn who wrote (43370)	1/12/1999 8:51:00 PM
From: Kenya AA	Respond to of 97611

From our friends at Bear, Stearns & Co. ..... Andrew J. Neff (212) 272-4247 aneff@bear.com 1/12/99 Shaw Wu (212) 272-5928 swu@bear.com William Bao Bean (212) 272-6915 wbean@bear.com Subject: Company Update Industry: Computers & Office Equipment BEAR, STEARNS & CO. INC. EQUITY RESEARCH Compaq Computer Corporation (CPQ-48 3/8) - Buy Buys Shopping.com; Strengthens Alta Vista Position; Maintain Buy ----------------------------------------------------------------- * Key Points. Joining the ranks of e-commerce players, Compaq yesterday said that it will acquire online retailer Shopping.com for around $200 million in cash to as a way to offer Internet- based shopping to new customers and Internet users. Compaq plans to combine Shopping.com with AltaVista search site. The combination of the two could enhance the value of AltaVista, which was purchased as part of the Digital Equipment acquisition, either as part of Compaq or as a spin-off, which has been a possibility for AltaVista. The idea is to meld the two operations together to provide a destination for AltaVista users and to link the busy AltaVista Internet search site to Shopping.com's site, multiplying the online retailer's potential base of customers. Shopping.com has a mixed reputation with recent bad publicity for poor service, but Compaq management indicated that they were buying the company for its online shopping engine and that they needed to work on repairing its image with customers. Shopping.com uses a sophisticated retail computer network to contact suppliers that ship orders directly to its customers, eliminating the need to warehouse inventory, slashing capital requirements compared to traditional storefront retailers. Even more significant, in our view, may be the implication that Compaq's board is sufficiently comfortable with the status of the Digital acquisition to move forward on another deal. We'll get a better sense of that when Compaq reports on January 27; our estimate is $0.38 vs. $0.42. The other issue is that issue could more closely tie Compaq with e-commerce, an association which has been clearly beneficial to the multiples of Dell, IBM, Sun Microsystems, Intel and others. * Compaq: The Bigger Picture. At a meeting we hosted with Compaq CEO Eckhard Pfeiffer recently at Comdex, we got a much better sense of perspective of the thinking behind Compaq's recent moves. Essentially, he reminded us that Compaq is acting on the plan it developed in 1996 on where it wanted to be in the year 2000 and what steps and tactics it needed to take to get there. In that context, Compaq's actions - such as the recent launch of its direct sales to small/medium business - are easier to understand: essentially, Compaq's agenda is to develop the appropriate distribution strategies for each business segment: major accounts, small/medium business and consumer, where the goal is to optimize for each segment and add direct efforts to extend its reach beyond the indirect channel. The goal withmajor customers is to "own the customer" through a team-based selling effort of Compaq total product and services capabilities. * Comfortable with 4Q Outlook. In our recent conversations with Compaq management (before the company went into the quiet period), they appeared comfortable with the fourth-quarter consensus estimates of $0.36 vs. $0.42; our estimate is $0.38. We are looking for 27% sequential growth in revenues to $11.1 billion due to our expectation of a stable U.S. enterprise business, seasonal stronger season for U.S. retail, and a pick-up in European enterprise as well as a snapback in the traditional DEC business after transitional factors diminish. We also expect CPQ to make progress on operating expenses in MG&A via further headcount reductions. We are maintaining our estimates for 1998 of $0.50, for 1999 of $1.75 and for 2000 of $2.25, implying significant improvements in its margins as a result of growth of services and reduced operating expenses. * Maintain Buy. While we recognize that there are still hurdles associated with the integration of Digital Equipment, the transition in distribution model, and competitive industry conditions, we are maintaining our Buy rating in view of the company's positive outlook going forward and compelling risk/reward equation. We believe the company is well positioned with the No. 1 position in several key businesses including corporate and consumer desktops, portables, NT workstations, servers, and fault-tolerant systems. In addition, the company has the opportunity to lower operating expenses and grow revenues in storage, Asia-Pacific/Japan, services, as well as its traditional markets.

To: Lynn who wrote (43370)	1/12/1999 9:07:00 PM
From: SS	Read Replies (2) \| Respond to of 97611

Lynn, re the Shareholder Offer from CPQ. Mine was a letter forwarded by Schwab. Deadline for the offer is 1/31/91. Enrollment number: M 2479 9184 3172. At Compaq Consumer Direct, (http://athome.compaq.com/store/buycompaq.asp) you're supposed to enter PIN #CD099 or call at 1-800-565-9917. For the same deal at Compaq DirectPlus, (http://www.directplus.compaq.com) you click on Shareholder Offer listed under Special Offers and enter access code # 4STOCKOWNR, or call them at 1-800-888-4156. At Compaq Works (http://compaqworks.com) you register under Promottional Mailings by entering Promo Code # 120198, or call them at 1-800-202-4367. None of the above worked for me so I called 1-800-888-0220, which seems to be the number to use. I told the guy I couldn't make the other options work and he took my PIN. Said $150 discount was standard for shareholders. (Why don't the tell us this?) BTW, I have mailed a "concerned shareholder" letter to Eckhard Pfeiffer, CEO. Let's see if anyone responds.

To: Lynn who wrote (43370)	1/13/1999 1:44:00 AM
From: csm	Read Replies (1) \| Respond to of 97611

Lynn Just to comment on the quality of Presarios. I spoke with a Compaq distributor in my area a few months ago, mostly about notebooks. I had an old LTE that bit the dust. He said they love Presarios because they get all the warranty work. He said to stay away from them and buy better quality. Either up the Compaq line or another manufacturer. He recommended the Toshiba Satellite 350 something or other. I'm not knocking CPQ. I am loooooonggg big time (for me). Stuart.