Compaq shares plunge on profit warning

Compaq Computer Corp. shares traded sharply lower Monday following the company's 11th hour profit warning.

Compaq shares were down 7 13/16 to 23 1/8, or 23 percent.

After the bell Friday, Compaq said it expects to report earnings of 15 cents per share, or less than half of what analysts expected. First Call's survey of 33 brokerage firms predicted a profit of 31 cents per share.