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To: Patrick E.McDaniel who wrote (106067)	3/2/1999 8:09:00 AM
From: Mohan Marette	Read Replies (2) \| Respond to of 176387

Breaking News-HP to announce major restructuring,possible break up. Pat: This ought to be interesting? ===================== NEW YORK, March 2 (Reuters) - Stocks to watch Tuesday. -- U.S. computer giant Hewlett-Packard Co. (NYSE:HWP - news) is expected to announce after the market closes on Tuesday a major restructuring that could break it up into at least two separate publicly traded companies, the Wall Street Journal reported. H-P closed at 65-7/8 on Monday. =================== More from Bloomberg Hewlett-Packard Will Reorganize, Split in Two, Wall Street Journal Says (Updates with yesterday's U.S. closing share price in fourth paragraph.) Palo Alto, California, March 2 (Bloomberg) -- Hewlett- Packard Co., the world's No. 2 computer maker, will reveal today plans to break the company into at least two separately traded entities, the Wall Street Journal Interactive Edition reported. Company officials weren't immediately available to comment on the report, which cited unidentified ''people familiar with the matter.'' Hewlett-Packard plans an announcement after the close of trading, the Journal said. Hewlett-Packard has been struggling to boost profit as prices for its printers and personal computers fall and recessions in Asia and parts of Latin America hurt sales. Though first-quarter profit beat expectations, Hewlett-Packard expects lackluster sales growth for the rest of its fiscal year because of a slowdown in some businesses in North America and Europe. Hewlett-Packard shares traded in Europe rose 2 to 67 7/8, according to Madoff Securities International Ltd. Shares fell 9/16 to 65 7/8 yesterday in U.S. trading. Net income in the three months ended Jan. 31 climbed 3.3 percent to $960 million, or 92 cents a share, from $929 million, or 86 cents, in the year-earlier period, Hewlett-Packard said last month. However, the company also said it expects fiscal 1999 sales growth to be at the low end of its earlier forecast for an 8 percent to 10 percent rise. The Palo Alto, California-based company has slashed expenses, cut its workforce and put a freeze on hiring to cope with slowing growth. Hewlett-Packard hired consulting firm McKinsey & Co. to examine possibilities for the company, the Journal reported. Hewlett-Packard could separate its test and measurement units from its computer business, the Journal reported, although one unidentified person close to the company said it's likely to focus on products for premium-priced markets such as the Internet. The company recently has begun developing devices consumers can use to harvest information from the World Wide Web.