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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: Doug Fowler who wrote (9982)	12/3/1997 7:55:00 AM
From: Moonray	Respond to of 22053

US stocks flat in London, 3Com marked down LONDON, Dec 3 (Reuters) - Most U.S. stocks were flat in quiet dealings in London on Wednesday, as investors focused on 3Com Corp shares, which were marked down sharply after the manufacturer of computer network equipment issued a profit warning late on Tuesday. 3Com shares were bid at $31-1/8 in London, down from their New York close at $35-5/16. The shares tumbled to $30-5/8 in after-hours trading in New York on Tuesday after the group warned it would cut inventory and report second-quarter profits below industry expectations. ''We haven't seen it here yet because it's very quiet, but I think we're going to see more weakness in the technology sector,'' said one London dealer. ''Yesterday, three technology companies gave profit warnings,'' he added. ''It was in three different areas of the sector and that's a big concern.'' Yet no other shares in the sector traded in London. Elsewhere, December S&P 500 futures were down just 0.80 to 974.30 on Globex at 1155 GMT. ''It's holding up pretty well. It's still trading above fair value ... the market just feels like it wants to go a bit higher.'' Dealers here said the market drew support from comments from Federal Reserve Chairman Alan Greenspan, who said the world economy will emerge stronger once Asian's financial problems have been resolved. o~~~ O