Compaq, acting fast, stems slide
Article Abstract:
Compaq Computer Corp's repurchase of as much as 10 percent, or 10 million shares, of its common stock is a move to stop the decline in the price of the computer maker's stock. Compaq shares are trading heavily as a result of the company's announcement that 2nd qtr 1991 earnings will be less than expected. On Thursday, May 16, 1991, 7.2 million shares traded, making Compaq's stock the most heavily traded on the New York Stock Exchange for the day. The closing price was down 25 cents at $35.75. Eleven million shares traded on the previous day and analysts believe negative investor reaction to Compaq's lower earnings may continue. Stockholders and executives were surprised and disappointed by the stock market's reaction to the drop in profits. In addition, stockholders questioned Pres and CEO Joseph R. Canion's sale of 20 percent of his Compaq holdings in Feb 1991 at $70 per share. Despite Compaq's troubles on the stock market, executives indicate that new products, research and marketing strategies should increase sales and profits significantly.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1991
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Dow declines by 14.34; computer stocks weak
Article Abstract:
The Dow Jones industrial average fell 14.34 points on Nov 2, 1989, led by Compaq Computer Corp, which was 17 points off. Compaq, which has always been popular with traders and investors, has had disappointing earnings recently. Just prior to its stock decline, Compaq announced that 4th qtr earnings would be lower than expected due to slowing sales and limited new-product availability. Compaq's decline led to similar activity by other computer and high-technology stocks. Computer Associates fell one and one-eighth; Wyse Technology, one-fourth; DEC, one and seven-eighths; IBM, seven-eighths; Motorola, three-fourths; and HP fell two points. Despite the performances by high-tech and computer stocks, the market is relatively healthy.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1989
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Selloff hits Compaq on profit news; quarter of value lost on gloomy outlook; computer issues sag
Article Abstract:
Shares of Compaq Computer Corp lost 25 percent of there value after the company announced that it expects earnings to be down by 79 percent in the 2nd qtr of 1991. Compaq says profits will be 25 cents a share, which compares with $1.18 a share in the same period last year. Revenues will probably be down 15 percent from the $862 million that was reported last year. Compaq's stock was down $10 when the market opened on May 15, 1991, and by the end of the day, the company's shares were down another $13.25. The stock closed at $36. More than 11 million shares were traded, making Compaq's shares the day's most active issue. IBM, Apple and other computer firms saw their stock prices tumble.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1991
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