3Com Article:
thanks mrmark!
here's an excerpt from a fine article on thestreet.com from today...it touches on several of the topics we've been kicking around here lately...
"Network shop 3Com (COMS:Nasdaq - news) also might be
worth a look, and not just for its Palm (PALM:Nasdaq -
news) stake, says Jeff Van Harte, manager of Transamerica
Premier Equity, which has 3.5% of its assets in 3Com and
0.5% of its assets in Palm. The fund boasts a 27.8%
three-year annualized return, which beats more than 60% of
its large-cap growth peers, according to Morningstar.
3Com, which Janus Twenty, Janus Worldwide and Janus
Olympus bought in the first quarter, is spinning Palm off to its
shareholders.
Palm is the maker of the suddenly ubiquitous hand-held
devices that can plan your life while also giving you the score
of the Red Sox game. The conventional wisdom is that
beyond Palm, 3Com is a company trying to exit low-growth
businesses and focus on more profitable units.
"I think Palm is gigantic; it's a new technology platform that's
just going to be huge," says Van Harte, whose fund, along
with other 3Com investors, will get 1.4 Palm shares for every
3Com share the fund owns. But he likes 3Com, too. "I think
it's in an intriguing, special situation right now," he says,
without specifying whether he's buying or selling the stock.
He says if 3Com can keep its position in the
network-interface card market and successfully compete in
the wireless-network and home-networking areas, it could be
a solid long-term pick."
thestreet.com |
