STOCKS TO WATCH: Compaq, Mattson Technology, Network Peripherals and Technology Solutions

The computer maker said Friday it sees a doubling, or even a tripling of its revenue growth rate in 2000, the most optimistic projection the company has made in several years.

Compaq President and Chief Executive Michael Capellas laid out his growth strategy during the company's annual briefing for Wall Street analysts and fund managers. He said he that during his first 180 days on the job he has prepared the company for solid growth to rutn around the past two years of lackluster growth, management turmoil and disappointing financial performance.

The chip-equipment maker should be worth watching Monday after it filed to sell 3 million shares of common stock.

The company said it would net about $100 million to be used for general corporate purposes including working capital, repaying debt and capital spending, according to a prospectus filed with the Securities and Exchange Commission.

After the offering there will be about 19.2 million shares outstanding in the company, the filing said.

The underwriters, led by Morgan Stanley Dean Witter, have been allotted an extra 450,000 shares to purchase in the event of heavy demand.

Its shares closed up 3 3/4 to 29 1/2 Friday.

Network Peripherals will also draw attention Monday after the maker of Ethernet switching products filed to sell 2.5 million shares of common stock, according to a Securities and Exchange Commission filing.

The company said it would use the net proceeds from the offering, an estimated $115.7 million, for working capital and general corporate purposes including increases in inventory and accounts receivable as well as planned expansion of sales and marketing and research and development efforts.

After the offering there will be about 15.2 million shares outstanding in the company, the filing said. The underwriters, led by Lehman Brothers, have been granted the right to purchase an extra 375,000 shares in the event of heavy demand.

Its shares closed up 3 1/2 to 52 1/2 Friday.

Technology Solutions announced late Friday received a favorable ruling from the IRS that the proposed spin-off of its eLoyalty division will be a tax-free distribution.

The company said it expects to complete the spin-off by mid-February, pending compliance with regulatory requirements.

Following the spin-off, eLoyalty will be a separate, publicly traded electronic customer relationship management business.

Its shares closed off 1/4 to 35 3/4 Friday.

Reuters contributed to this report.>