Friday: Compaq Talks Cheap

Compiled by John J. Edwards III
Staff Reporter

You could be reading this collection of post-close items on a cheaper computer if the subject of our first item has its way:

Computer-industry leader

Compaq

(CPQ)

plans to introduce a high-powered computer priced at $799 without monitor, which would be an industry low, according to the trade publication

Computer Retail Week

. The computer would be based on a 166MHz version of

Cyrix's

(CYRX) - Get Report

MediaGX chip.

Mazel Stores

(MAZL)

and

Value City

(VCD)

said they signed a letter of intent to form a joint venture to operate certain departments in Value City stores. The proposed joint venture had $110 million in revenue last year, according to Mazel.

Western Resources

(WR)

reported first-quarter earnings of 61 cents per share, short of the

First Call

estimate of 66 cents. The utility company earned 66 cents a year ago.

Another utility,

DQE

(DQE:NYSE), surprised on the upside. The

Duquesne

parent reported first-quarter earnings of 58 cents per share, 2 cents ahead of the First Call view and better than the year-ago 55 cents.