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AFTER THE BELL - 3Com stock dips on Q4 earnings
Reuters Story - June 24, 1997 17:41 %DPR %BUS %US %HOT %STX %XHR/US COMS %ELI PMTC IMN V%REUTER P%RTR
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NEW YORK, June 24 (Reuter) - 3Com Corp stock
slipped by more than a point after the U.S. market close,
dealers said Tuesday, while most stocks remained in line with
closing prices.
Traders said the computer networking company traded at
48-1/2, dipping below its unofficial close of 49-3/4, after
reporting fourth quarter earnings of $0.48 per share, matching
analysts' estimates, compared with $0.46 in the year-ago
period, before charges.
3Com also said its revenues rose to $830 million, compared
with $660 million for the year-ago period.
Also active in after-hours trading was Parametric
Technology Corp , which saw its stock fall to 39 from
an unofficial close of 41-1/2, traders said.
The software tool company's stocks also slipped three
points in late May after the company said it was comfortable
with fiscal 1998 earnings estimates that were less than
expectation.
Data storage company Imation Corp remained halted
after hours, while the company reported that its second
quarters earnings per share would likely come in below
analysts' estimates of $0.30 to $0.38.
Otherwise, stocks prices were steady. "We finished the day
on a strong note and nothing is jumping out," a trader said,
referring to a spectacular rally during regular hours trading.
The Dow Jones Industrial Average soared to 7758 Tuesday,
gaining 154 points, or 2.02 percent. The gain retraced most of
Monday's heavy losses reflected in a 192-point drop in the
blue-chip average.
The New York Stock Exchange said session one volume fell to
9,000, compared with 250,600 the previous day. Session two
volume hit 11,410,040, compared with 5,359,555.
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