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Technology Stocks : 3Com Corporation (COMS)
COMS 0.00130-18.8%Nov 7 11:47 AM EST
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To: Glenn D. Rudolph who wrote (12494)12/19/1997 10:17:00 PM
From: Maverick  Read Replies (1) of 45548
 
Late Thursday, 3COM CORP executives said the company expects to
see short-term pressure on its gross margins as it moves to
eliminate inflated inventory levels in its distribution channels.
The executives, speaking to analysts in a teleconference call
following release of its 2Q results, said Asia was unlikely to
return to its historic above-average industry performance any time
soon. But on the bright side, an expected imminent resolution of
standards for 56-kilobits per second computer modems could help
boost industry growth prospects for 1998, they said. Benhamou said
another factor dampening fiscal second quarter results was the
economic turmoil in Asia, adding that "it's unlikely that Asia
will return to its above average industry growth rates any time
soon." (Reuters 06:39 PM ET 12/18/97) For the full text story, see
infobeat.com

* Gruntal & Co said it lowered its fiscal 1998 earnings estimate
on 3COM CORP to $0.88 per share from $1.23. The 1999 estimate was
set at $1.69. The rating remained a hold. Gruntal assumes modest
sequential gains in the systems business, but sees Cisco Systems
Inc gaining market share, some of which will be at 3Com's expense.
Until a modem standard is agreed upon, potential buyers are likely
to stall new and upgrade purchases. (Reuters 01:07 PM ET 12/19/97)


* BancAmerica Robertson Stephens analyst Paul Johnson raised
estimates on 3COM CORP to reflect slightly higher margins in the
reported 2Q. Johnson raised his 1998 and 1999 earnings per share
estimates to $1.15 and $2.27 from $1.12 and $2.24, respectively.
(Reuters 01:14 PM ET 12/19/97)

SoundView Financial Group said analyst Michael Karfopoulos
reduced his earnings estimates on 3COM CORP. It cut fiscal 1998
EPS to $0.75 from $1.10. It cut fiscal 1999 EPS to $1.50 from
$1.86. It kept stock rated as short-term and long-term hold.
(Reuters 12:18 PM ET 12/19/97)
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