In an effort to reduce inventory at its distributor warehouses, Compaq Computer is giving away free 15-inch monitorsÐvalued about $300 apieceÐwith its commercial desktop PCs through the end of May. The move was announced one week after the company reported that flatter-than-expected sales would wipe out its first-quarter profits.

Compaq chairman Eckhard Pfeiffer issued a statement saying, "We are putting in place price reductions and aggressive promotions in the first and second quarters to reduce these channel inventories."

A free monitor will accompany the purchase of a Deskpro 2000 model with a Pentium II processor or a

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