"3Com Up Slightly In Late Trading; 3Q Earns Met Views" - From WSJ-online :
Dow Jones Newswires -- December 18, 1997
NEW YORK (Dow Jones)--Shares of 3Com Corp. (COMS) rose slightly
in after-hours trading after the company reported fiscal second-quarter
earnings in line with analysts' expectations.
John Dawson & Associates broker Carol Valentin Munoz said 3Com was
recently trading at 33 1/4, up from its 33 1/8 close.
After the close of the market, the Santa Clara, Calif., networking company
announced earnings of $15.1 million, or 4 cents a share, for the quarter
ended Nov. 30, compared with $115.7 million, or 33 cents a share -
including 17 cents a share in various charges - a year ago.
A survey of 30 analysts polled by First Call Corp. had estimated 3Com
would earn 4 cents a share for the latest quarter.
The company's sales fell to $1.2 billion from $1.4 billion in the second
quarter of fiscal 1997.
Also up in late trading was Adobe Systems Inc. (ADBE), which announced
fiscal fourth-quarter earnings above Wall Street's expectations.
For the quarter ended Nov. 28, Adobe Systems reported earnings of 56
cents a share, excluding items, compared with 49 cents a year ago and a
First Call consensus estimate of 55 cents.
Deron Coleman, a trader at PT Discount Brokerage, said Adobe Systems
was recently trading at 36, up from its 34 5/8 close.
-By Gaston F. Ceron; 201-938-5174 |
