Business Services Industry
Compaq Executives Believe Computer Maker's Fortunes on Upswing.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, December, 2000 by Ward, Leah Beth
Dec. 21--HOUSTON--Ted Clark is demonstrating all the things you can do with Compaq's wireless iPaq Pocket PC. He scribbles "CPQ" across the screen with his stylus and up pops the stock price for the Houston-based computer company.
"Ouch," said Mr. Clark, vice president of wireless Internet solutions at Compaq Computer Corp. At $15 a share, the stock is trading for less than half of what Wall Street projected last year.
Last week, the market punished Compaq for lowering revenue and earnings expectations for the fourth quarter, making it the latest in a long list of companies to issue the dreaded "pre-announcement."
"It was brutal," Michael D. Capellas, chairman and chief executive, said in an interview this week.
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