SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : 3Com Corporation (COMS)
COMS 0.001300.0%Nov 7 11:47 AM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Edwarda who wrote (32053)6/23/1999 11:44:00 AM
From: Boris Reynov  Read Replies (1) of 45548
 
From Thomson:

23-Jun-99 11:26:12 Shares of 3Com are being pressured by
revenue concerns today. After the close yesterday, the firm
reported FY99 4Q earnings of $0.24, a penny ahead of
expectations, but warned that revenue is likely to fall on a
year-over-year basis in FY00 1Q and 3Q. In reaction to the revised
outlook, several sell-side analysts have trimmed their earnings
expectations for the firm. Shares of 3Com are down $3 11/16 to
$27 13/16 on volume of 11.4 million shares. There is a lot of
speculative trading going on in today's session with just 14% of
total volume related to block transactions. It appears day traders,
both professional and retail, are behind the bulk of today's volume.
Part of the explanation for this lies in the fact that previous earnings worries caused the stock to fall to a new 52-week low of $20 in April from a high of $51 1/8 in December. The stock has
languished in the mid- to upper-20's for some time. Most of the
aggressive growth and momentum investors who focus on
near-term earnings and price growth have already exited the stock,
leaving just the long-term value oriented investors as shareholders.
The pre-trade data is consistent with this, showing there are a
number of institutional brokers skimming the market for 3Com at
"discount" prices while any short-term oriented investors who
ventured back into the stock are bailing once more.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News