|j_r_ewing - Dienstag, 10. Juli 2001 - 19:58|
| 1:31PM UBS Warburg cuts 2001 PC growth forecast ($GHA, DELL, AAPL, GTW, CPQ, MSFT) by Tomi Kilgore |
The Goldman Sachs Computer Hardware Index ($GHA) is down 2.9 percent after Analyst Don Young at UBS Warburg lowered his 2001 growth forecast for PC industry shipments to 2 percent from 5 percent. Young cited further deterioration in Europe, excess retail inventory levels among major vendors and the lack of improvement in global PC demand for his move. Meanwhile, he initiated a 2002 growth forecast of 10 percent. Among PC makers, Dell Computer (DELL) is down $1 at $25.70, Apple Computer (AAPL) is slipping 64 cents to $22.06, Gateway (GTW) is giving up 51 cents to $14.29 and Compaq Computer (CPQ) is losing 30 cents to $13.90. Yound thinks Compaq is "very likely" to report quarterly results, scheduled for July 22, that are below previously-given expectations of $9 billion in revenue and earnings of 5 cents a share. Separately, Prudential Securities's Kim Alexy said in a midday research note to clients that she remains concerned that PC original equipment manufacturers are "waging a price war" that will continue to eat away at profitability without driving "sufficient" unit growth. UBS's Young said he sees Microsoft (MSFT) as the only one benefiting from the price war. The stock is edging up 8 cents to $65.77.
|j_r_ewing - Dienstag, 10. Juli 2001 - 23:14|
| Compaq-Gewinne wie erwartet, aber bei verringertem Umsatz: |
4:42PM Compaq to miss revenue target (CPQ) by Chris Kraeuter
Compaq Computer (CPQ) will miss its revenue target for the second quarter and cut more employees as economic conditions in Europe deteriorate further. The computer maker now expects earnings of 4 cents a share on revenue of $8.4 billion. Earnings are as analysts expect, but revenue was expected at $8.8 billion, according to the average estimate of analysts surveyed by First Call/Thomson Financial. In the first quarter, revenue was $9.2 billion. Further, Compaq said it will cut 4,000 jobs and take a $490 million charge in a bid to bring annual savings up to $900 million. For the year, Compaq said it will lose 8,500 workers through severance. Actual results will be announced on July 25. Ahead of the news, Compaq shares closed down 44 cents, or 3.1 percent, at $13.76.