In another sign of recovery in the troubled personal computer industry Compaq said yesterday it expects to record a profit rather than a loss in the fourth quarter of 2001.
The No 2 computer-maker posted revenue of more than $8 billion, after it previously forecast revenue of $7.6 to $7.8 billion and a loss of 3 cents a share.
Compaq shares rose yesterday by 5 per cent and shares of the number 1 personal computer-maker Dell rose 2 per cent.
Houston-based Compaq and competitor Hewlett-Packard are in the process of merging, despite opposition from members of both the Hewlett and Packard families who said they would vote their combined 18 per cent stake against the merger.
Last week news of improved sales in semiconductors sent technology stocks soaring.
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