Big tin company Compaq, which has rebranded itself as Q, waited until the end of yesterday to issue a profits warning for its first quarter earnings. A statement from CEO Eckhard Pfeiffer said that it will report net profits of 15 cents on Q1 turnover of $9.5 billion. The company blamed lack of demand and severe price competition for the drop in profits. Its first quarter earnings information will be released on April 21st. Wall Street analysts had thought it would produce net profit of 31 cents per share.
South African based site, IT Web, is reporting that Silicon Graphics will change its name next week. According to IT Web, the company has notified all of its staff and customers, but is keeping details of the new name under wraps until the 14th of April. However, mysterious Register staffer, The Fifth Vulture, thinks it's going to call itself Relevant. Or maybe Irrelevant. Monday will tell all. Whether the change of name will help its financial fortunes is, however, unclear. Paradoxically enough, the spun off chip division of SGI, MIPS, is showing every sign of returning to a buoyant situation. Last Friday it turned in its Q3 results and shows every sign of doing well... It's always a risky business changing a name that everyone in the industry knows. A few days ago, The Company formerly known as Silicon Graphics, announced an e-commerce initiative. ®