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Catto said he was comfortable with analysts' forecasts for revenues of about £175m this year.
He says Compaq's statement took the market aback because most investors had thought the "preannouncement season," during which many companies guide Wall Street analysts to lower their forecasts for revenues and earnings, was over.
In tech, Foundry Networks drove the networking sector higher, after saying its would beat fourth-quarter forecasts for revenues on stronger sales, and Saks jumped despite posting a decline in same-store sales and warning that it would miss analyst expectations for the quarter.
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His forecasts for revenue growth in 2016 and 2017 respectively are 2% and 3%.
National Semiconductor is the latest company in the wireless-phone industry to lower forecasts for revenue or profit.
In the face of a dismal advertising market, Yahoo said that it barely met its forecasts for revenue and profit for the third quarter, and it sharply cut its sales forecast for the fourth quarter.
In the face of a dismal market for advertising, Yahoo said yesterday that it barely met its forecasts for revenue and profit in the third quarter, but it sharply cut its sales forecast for the fourth quarter.
During the depths of the global economic downturn, in 2010, the company then set itself a new goal – to become "the world's greatest service company" – and issued ambitious forecasts for revenue growth and profits by 2012.
The Closure Medical Corporation, the maker of Band-Aid Liquid Bandages and Dermabond surgical adhesive, has reduced its 2004 forecasts for revenue and profit, causing a decline in its stock price.
Marketing services group Creston adds 8p to 51p - a rise of almost 20% - after announcing in a trading update that it has performed ahead of consensus forecasts for revenue, profits before financial charges and earnings per share.
Rolls-Royce cut its forecast for revenues this year.
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