But he said he still held most of the 5.7 million Compaq shares disclosed in an earlier proxy statement.

Companies Compaq shares lost more than a quarter of their value after the company said it expected earnings to plummet.

At the day's low of $10.75, Compaq shares sold for less than at any time since July 30, 1996.

Compaq shares fell 5.5 percent, or 49 cents, to $8.50.

Compaq shares have lost half their value this year amid disappointing earnings and management turmoil.

Compaq shares were up 24 cents to $10.59, a 14 percent decline since the announcement Monday.

But while the earnings beat the consensus estimate, they fell short of some higher estimates, and Compaq shares dropped $1.25 to close at $73.375.

Compaq shares closed today at $72, up 50 cents.

Compaq shares dropped 44 cents, or 3 percent, to close at $13.76 amid a widespread sell-off in technology stocks.

Compaq shares slipped 12.5 cents yesterday to $80.375 after setting an all-time high on Tuesday.