mark and thread.
I hope you bought the leaps I was talking abot..
News Alert from Reuters via Quote.com
Topic: Cisco Sys Inc
Quote.com News Item #2158931
Headline: U.S. Robotics-3Com merger seen sparking networkers
======================================================================
NEW YORK, Feb 26 (Reuter) - Shares in several networking
companies rose in after-hours activity on Wednesday after news
of a proposed $6.6 billion stock merger between 3Com Corp
(NASDAQ:COMS) and U.S. Robotics Corp (NASDAQ:USRX).
The announcement provided the first real spark in some time
for the recently downtrodden group.
According to Instinet, several networking shares were
higher in after-hours activity. Cascade Communications Corp
(NASDAQ:CSCC) traded at 33, up from a regular-session closing price
of 32-5/8, and Cisco Systems Inc (NASDAQ:CSCO) rose to 58-1/2 from a
close of 58-1/8.
Shares in 3Com and U.S. Robotics were both sharply higher
in after-hours activity prior to Nasdaq-imposed trading halts.
Scott Bleier, chief investment strategist at Prime Charter
Ltd, said the deal could revitalize interest in the group,
which has met with stiff selling pressure in the wake of
earnings and sales warnings by several companies recently.
"This should heat up the networking sector," Bleier said.
"This is a mega-merger, and you can probably expect other big
companies like Cisco and Ascend (Communications Corp) (NASDAQ:ASND)
are going to be on the prowl."
Copyright 1997, Reuters News Service |
