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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF
COMS 0.00130-18.8%Nov 7 11:47 AM EST
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To: DMaA who wrote (19396)9/14/1999 10:13:00 AM
From: Moonray  Read Replies (1) of 22053
 
Morgan sees less than a zero sum game: RESEARCH ALERT-
3Com<COMS.O>cut to market performer

NEW YORK, Sept 14 (Reuters) - J.P. Morgan said on Tuesday it cut its
rating on 3Com Corp. to market performer from buy.

On Monday, 3Com announced it plans to spin off its fastest growing
unit, Palm Computing, maker of the world's best-selling line of
handheld computers. -- J.P. Morgan said, "This is a positive move for
the company as it attempts to drive value from its three business
groups (Handheld Devices, Network Systems and Personal Connectivity).

That said, the company's remaining business (Network Systems
and Personal Connectivity) will lack any significant growth drivers
for the foreseeable future." -- "We believe that the move to spin
off Palm Pilot takes a lot of mystery, and potential upside, out of
3Com's stock." -- "Essentially, 3Com is counting on the broadband
access portion (i.e., cable modems and xDSL products) of its
Network Systems group to drive future growth, which represents only
a few percent of current sales and is not enough to offset declining
revenue and income from its Personal Connectivity business."

((--Wall Street Desk, 212-859-1730))

REUTERS

Rtr 09:38 09-14-99

o~~~ O
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