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Stock Analyst Update

A Light at the End of the Tunnel for Compaq

First-quarter earnings show that the firm's turnaround is legitimate.

The light at the end of the tunnel for Compaq Computer (CPQ) just got that much closer, after the firm reported solid first-quarter results Tuesday evening.

Despite a rough first quarter for the entire personal-computer industry, Compaq managed to post earnings before investment gains of $0.16 per share, in line with consensus expectations. Compaq saw especially favorable growth in its consumer PC segment, and made up for sluggish corporate sales with cost-cutting efforts.