NEW YORK, Dec 2 (Reuters) - Cisco Systems Inc
dropped a point in after-hours trade Tuesday after 3Com Corp
sent a cold snap through the computer networking
industry with the news that it would cut inventory levels.
3Com, which also said it would see a slight profit in the
second quarter, was halted for trade.
"Cisco is trading low," a dealer said, specifying that the
company's stock had fallen to 85-1/2, off an unofficial close
of 86-1/2.
Ascend Communications , also involved in computer
networking, was hit with a three-quarter point slide. Dealers
said Ascend's stock price, which closed unofficially at 23-3/4,
fell to 23.
As the session progressed, Cisco descended further to 85,
traders said.
And Bay Networks Inc , which closed at 27-3/4 on the
New York Stock Exchange, was at 27-1/2 after the bell, dealers
added. Bay Networks is the global leader in the internetworking
market. |
